Canara HSBC OBC Life Insurance

CANARA HSBC ORIENTAL BANK OF COMMERCE LIFE INSURANCE COMPANY LIMITED This Company was launched on 16 June 2008. It is a Joint Venture between Canara Bank (holding 51%), HSBC Insurance (Asia Pacific) Ltd (holding 26%), the Asian insurance arm of one of the world's largest banking and financial services groups - HSBC and Oriental Bank of Commerce (holding 23%). Lets have a small outlook of the ventured companies

Canara Bank

Canara Bank is a Public Sector Undertaking Bank established in 1906 and it holds 51% share in the JV.
As on 31st March, 2014 the bank is holding about 4678 Branches and is having a wide customer base of 50 Million.)
One of the largest nationalized banks in India in terms of business volume.

HSBC

HSBC Holds 26% share in the JV through HSBC Insurance (Asia-Pacific) Holdings Limited
International Bank established in 1865 and haves more than 100 million customer base
It is holding 8000 offices in 88 countries and territories across the world.

Oriental Bank of Commerce

OBC is an Public Sector Undertaking Bank established in 1943 and holds 23% share in the JV
As on 31st March, 2014 the company is operating with 2132 Branches and 1.77 million Customers.
Rates as AA+/FAAA/P1+ from CRISIL.

Below are some key facts and figures of Canara HSBC OBC Life Insurance.


STARTED YEAR	16-Jun-08
PAID UP CAPITAL	950 CRORES
INDIAN PARTNER	Canara Bank and Oriental Bank of Commerce
FOREIGN PARTNER	HSBC Insurance (Asia Pacific) Holdings Limited
MD/CEO NAME	Anuj Mathur
BANKING PARTNERS	Canara Bank and Oriental Bank of Commerce
SOLVENCY RATIO	3.59
NUMBER OF BRANCHES	28	HEAD OFFICE	Gurgaon
TOTAL PREMIUM COLLECTED	2011-12	2012-13	2013-14
	1861.08	1912.15	1805.88
CLAIMS SETTLEMENT RATIO	2011-12	2012-13	2013-14
	80.58%	88.44%	86.76%
KEY PLANS	CHILD	Canara HSBC Future Smart Plan
	TERM	eSMART TERM PLAN
	PENSION	Canara HSBC Grow Smart plan
	ULIP	Canara HSBC Smart One pay Plan
TOLL FREE NUMBER	1800-103-0003
WEBSITE ADDRESS	INDIAN PARTNER	www.obcindia.co.in
		www.canarabank.com
	FOREIGN PARTNER	www.hsbc.co.in
	COMPANY WEBSITE	http://www.canarahsbclife.com/

Key points to be Noted about Canara HSBC OBC Life Insurance:

The company head office is situated at Gurgoan, India.
Canara HSBC is having a Solvency ratio of 3.59.
Has collected more than 1800 crores of premium in 2013-14 period.
Has a claim settlement Ratio of 86.76% in 2013-14.

Disclaimer: In the above table, we had updated the details from the IRDA Annual report 2013-14, 2012-13 and 2011-12. Some details are captured from www.canarahsbclife.com. The accuracy of the above table content depends on these given sources. This information published is of informative nature and does not guarantee anything about the companies performance or claim records. The main aim of this post is to simplify the details about Canara HSBC OBC life insurance. All these information in this post can be seen in www.canarahsbclife.com and IRDA website

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