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Canara HSBC Oriental Bank of Commerce Life Insurance Company is a joint venture between Canara Bank, Oriental Bank of Commerce and HSBC Insurance. The company started operations in India in 2008. Collectively the company has a network of 4,400 bank branches.
Canara Bank is owned by the Government of India and has a century old history of banking in India. It is one of the largest banks in India with a amazing network of more than 2800 branches across the length and breadth of India. The HSBC Group, headquartered in London, is one of the world's largest banking and financial services organizations with business in more than 81 countries across the world. The HSBC group's presence in India also dates back to more than a century. HSBC Bank is one of the oldest and leading private sector banks in India. Oriental Bank of Commerce (OBC), is also a Government of India's undertaking with a network of more than 1526 branches making it among the larger banks in India. Overall this partnership has got a trustworthy and historically established background to run the insurance business.
The company in its current form operated on a pure Bancassurance model. Having a large customer base of 3 banks, is in itself a huge base to start selling insurance products.
Anuj Mathur is the Managing Director & Chief Executive Officer of Canara HSBC Oriental Bank of Commerce Life Insurance Company.
| Year | 2011-12 | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 |
|---|---|---|---|---|---|---|---|---|---|
| Claims ratio | 80.58 | 88.44 | 86.76 | 89.58 | 92.99 | 94.95 | 95.22 | 94.04 | Yet to be published |
| Year | 2011-12 | 2012-13 | 2013-14 | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 |
|---|---|---|---|---|---|---|---|---|---|
| Market share | 0.6 | 0.6 | 0.5 | 0.4 | 0.6 | 0.6 | 0.6 | 0.68 | Yet to be published |
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