Canara HSBC OBC Life InsuranceCANARA 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.
- 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.
|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.