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Canara Bank new life insurance JV with HSBC and Oriental Bank

Canara Bank declared a new joint venture insurance company with HSBC and Oriental Bank of Commerce called the Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd.

Apnainsurance.com Research Bureau

21 Jul 2008

Canara Bank declared a new joint venture insurance company with HSBC and Oriental Bank of Commerce called the Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd.

Canara Bank has a 51% stake in the JV while HSBC and Oriental Bank of Commerce have 26 per cent and 23 per cent respectively.

First year premium collection is expected to be Rs 180 crore.



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