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Canara HSBC OBC Life Insurance |
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Canara HSBC OBC Life Insurance |
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Canara HSBC Life Insurance in association with Oriental Bank of Commerce is a joint venture Life insurance company in India launched in March 2007 and inaugurated on 16th June 2008 with headquarters in Gurgaon, Haryana. Stalwarts like Canara Bank, HSBC and OBC have come together to form this alliance that fuses their individual customer bank consisting of more than 40 million people and 3600 branches across the country. This strategic alliance of three most trusted banks in India have all the basic infrastructure needed to become a significant Life insurer in India within no time.
The respective holdings in the venture are:
Besides the individual capital contribution, HSBC would take charge of the management services including providing senior level executives to the company. The nascent Life insurance market in India has shown great growth potentials that is being capitalized by the private insurers entering the market. In this scenario, Canara HSBC Oriental Life Insurance has a promising future.
Canara Bank is an established name in commercial banking services, mutual funds, housing and venture capital financing, factoring and insurance segments. The Life Insurance and Non Lief Insurance products of Canara Bank are front runners in the industry. This Canara HSBC OBC collaboration would bring best of value added international insurance products to the Indian markets.
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Oriental Bank of Commerce has its rural and semi-urban reach to contribute to the collaboration. With over 1350 branches and extension counters in all important centres across the country, OBC understands the needs of local populace that would help design customer-friendly life insurance products that would in turn bring a fair market share.
Contact Details:
Canara Bank
Denis Rodrigues
Phone: 91-80-2248 4581
Email: denisrodrigues@canbank.co.in
HSBC
Malini Thadani
Phone: 91-22-2268 1046
Email: malinithadani@hsbc.co.in
OBC
T M Bhasin
Phone: 91-11-2341 770
Email: tmbhasin@obc.co.in
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