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Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited

Canara HSBC Oriental Bank of Commerce

The Company was launched on 16 June 2008 and 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%).

  • The Company operates a bancassurance model.
  • It has an exclusive access to around 60 million customers and a network of over 6000 bank branches of its corporate agents.
  • The in-depth local market knowledge of Canara Bank and Oriental Bank of Commerce coupled with the considerable insurance experience, product range and proven bancassurance capabilities of HSBC make this an unparalleled union of financial strength, expertise and most importantly, trust.
  • To deliver affordable insurance solutions to address the needs of the rural population, the Company has tied up with three Rural Regional Banks (RRBs) - Pragathi Gramin Bank in Karnataka and Shreyas Gramin Bank in Uttar Pradesh in December 2009 and South Malabar Gramin Bank in June 2010.
  • The Company has a Resolution Centre (call centre) at the Head Office that caters to the diverse needs of its customers pan India and has a capability to handle calls in 10 different languages.
  • The Company is the fastest Indian life insurance company to cross ` 500 crore,` 1000 crore,` 1500 crore and `2000 crore in weighted premium income till date*.
  • The Company through its prudent investment strategy has demonstrated consistent fund performance, exceeding benchmarks across all funds.
  • The Company's total capital base currently stands at ` 925 crore.

Values we Value

Honesty & Fairness

We honour our commitments and live by our words. We offer equal opportunity to all and demonstrate honesty and transparency in our dealings.

Customer Driven

We offer simple and best in - class experience to our customers by leveraging research, technology and processes.

Simplicity & Excellence

We demonstrate excellence in quality and delivery. We will invest in simplifying every aspect of the life insurance business model in India and be recognised as the industry leader.

Staff Engagement

We operate as a high performing team; we take pride in our work and support each other to achieve our professional and personal aspirations.

Corporate Citizenship

We commit to take the benefits of insurance to all strata of society,particularly to our partners' customers. We demonstrate our responsibility towards society and the environment through our personal actions and work policies.

Corporate Social Responsibility

Canara HSBC Oriental Bank of Commerce Life Insurance Company is committed to more than just giving back to the society or community within which it operates and focuses on doing well by doing good.

The business of Life Insurance is all about social security and protection i.e. aimed at the well being of human beings and the society as a whole. One of the five core values of the Company is Corporate Citizenship which stresses the fact that businesses and markets are essentially aimed at the welfare of society and thus complement each other.

As a part of its commitment to CSR, the presentation of life insurance policies to 8 underprivileged children at launch was the first step towards this initiative.

16th June 2008: Mr P Chidambaram, former Union Minister of Finance, presented the first set of policies of the newly-launched Canara HSBC Oriental Bank of Commerce Life Insurance Company to underprivileged children at the company launch. Also seen in the photographs Mr Alok K Misra, former Chairman and Managing Director, Oriental Bank of Commerce, Mr M B N Rao, former Chairman and Managing Director, Canara Bank, Mrs Naina Lal Kidwai, Group General Manager and Country Head, HSBC, India and Mr Clive Bannister, former Group Managing Director of Insurance, HSBC.

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