Template:Infobox company
Canara HSBC Life Insurance is an Indian life insurance company, headquartered in Gurugram.[1] Established in 2008, Canara HSBC Life Insurance [2] was a joint venture between Canara Bank (36.5%), HSBC Insurance (Asia Pacific) Holdings Limited (26%) and Punjab National Bank (23%). On 15 June 2022, the company renamed itself as Canara HSBC Life Insurance after the exit of its third partner, Punjab National Bank.[2][3]
The company provides life, health, online term plans, credit life and employee benefit segments.[4][5]
History and overview
The company was established in 2008. In February 2014, Canara HSBC Life Insurance [3] introduced the concept of online revival of the policy, enabling customers to reinstate a lapsed policy and allowing them to pay their premium online.[6]
It partnered with 3 rural regional banks, Pragathi Gramin Bank in Karnataka and Shreyas Gramin Bank in Uttar Pradesh in 2009 and South Malabar Gramin Bank in 2010.[7] The company partnered with Dhanlaxmi Bank in June 2017.[8] It also tied up with Can Fin Homes and[9] IndianMoneyInsurance.com.[10] In April 2020, Oriental Bank of Commerce merged with Punjab National Bank.[11][12] On 15 June 2022, the company rebranded as Canara HSBC Life Insurance.[13]
See also
References
- ↑ Canara Bank, life insurance arm launch 'Webassurance'(27 April 2019).
- ↑ 2.0 2.1 Canara HSBC Life rebrands due to PNB exit, Shetty, Mayur. The Times of India(16 June 2022). Retrieved 2022-06-17.
- ↑ 3.0 3.1 Canara HSBC OBC Life Insurance rebranded as Canara HSBC Life Insurance. mint(2022-06-15). Retrieved 2022-06-17.
- ↑ Bank Merger: 6 things OBC, UBI customers should know about debit cards, cheque books to passbooks post merger with PNB(13 April 2020).
- ↑ Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank. Punjab National Bank.
- ↑ HSBC Oriental Bank of Commerce Life Insurance Company launches online revival of policies(25 February 2014).
- ↑ Introduction. Canarahsbclife.com. Retrieved 2020-07-12.
- ↑ Canara HSBC Oriental Bank of Commerce Life Insurance ties up with Dhanlaxmi Bank(6 June 2017).
- ↑ Canara HSBC OBC Life Insurance partners Can Fin Homes to sell policies(8 March 2018).
- ↑ Canara HSBC OBC Life Insurance partners with IndianMoneyInsurance.com to sell policies(17 October 2019).
- ↑ Bank Merger News: Government unveils mega bank mergers to revive growth from 5-year low. The Times of India(30 August 2019). Retrieved 2021-10-08.
- ↑ 10 public sector banks to be merged into four. mint(2019-08-30). Retrieved 2021-10-08.
- ↑ Canara HSBC OBC Life Insurance renews commitment to its customers with Canara HSBC Life Insurance rebranding. Free Press Journal. Retrieved 2022-06-17.
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