FM launches operations of Canara HSBC OBC Life InsuranceFM launches operations of Canara HSBC Oriental Bank of Commerce Life Insurance. The company's head-quarters based in Gurgoan is the 19th life insurance company.
Apnainsurance.com Research Bureau
17 Jun 2008
Indian Finance Minister, P. Chidambaram launched the operations of Canara HSBC (Hongkong and Shanghai Banking Corporation) Oriental Bank of Commerce Life Insurance. This life insurance company is the 19th player in the insurance industry.
Canara HSBC Oriental Bank of Commerce Life Insurance Company with its head-quarters in Gurgaon has a capital-base of Rs 325 crore. Canara Bank holds the majority 51 per cent stake, HSBC holds 26 per cent and OBC holds 23 per cent stake.
The company has launched eight products with a mix of traditional and unit-linked schemes with focus on bancassurance.