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Life Insurance Partner
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited was launched in June 2008 and is jointly owned by two of India‟s largest public sector banks – Canara Bank (holding 51%) and Oriental Bank of Commerce (23%) – and HSBC Insurance (Asia Pacific) Holdings Limited (26%), the Asian insurance arm of one of the world's largest banking and financial services groups – HSBC. The Company has exclusive access to around 60 million customers and a pan-India network of over 7000 branches of Canara Bank, HSBC and Oriental Bank of Commerce.

By only selling through the three banks' branches, seeking to seamlessly integrate systems and processes to reduce costs, Canara HSBC OBC Life aims to pass on the savings to customers through lower charges and improved early exit terms, making the Company's policies among the most competitive and most accessible in the market.

To deliver affordable insurance solutions to address the needs of the rural population, the social sector and economically weaker sections of the society, especially those who have no or very little access to organised financial services, the Company has also tied up with Rural Regional Bank (RRB) – Pragathi Krishna Gramin Bank in Karnataka.

Canara HSBC Oriental Bank of Commerce Life Insurance Company understands that today innovation is a key differentiator. Based on customer needs, the Company currently offers 13 products – 5 unit-linked and 8 traditional; 8 out of these are individual and 5 are group products.

The company achieved statutory break-even in 5th year of operations owing to its bancassurance business model, leading to a lean cost structure, strong persistency levels and superior underwriting process. Since launch on June 16, 2008 to September 30, 2014, the Company's business in terms of Gross Written Premium (GWP) stood at Rs 9034 crore and the number of policies sold are 4,67,490.
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