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 companiesCanara 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 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.
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.