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 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 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.
|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|
|NUMBER OF BRANCHES||28||HEAD OFFICE||Gurgaon|
|TOTAL PREMIUM COLLECTED||2011-12||2012-13||2013-14|
|CLAIMS SETTLEMENT RATIO||2011-12||2012-13||2013-14|
|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|
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.
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