Canara HSBC Life Insurance Company Ltd. Company History and Annual Growth Details

Our Company was incorporated on September 25, 2007 as ‘Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited’, a public limited company under the Companies Act, 1956 and was granted a certificate of incorporation by the Assistant Registrar of Companies, Karnataka, and received a certificate of commencement of business dated January 28, 2008 from the Assistant Registrar of Companies, Karnataka. A fresh certificate of incorporation was granted on March 1, 2013 by the Registrar of Companies, National Capital Territory of Delhi and Haryana at New Delhi (now known as Registrar of Companies, Delhi and Haryana (the “RoC”)), pursuant to change in the registered office of our Company from Karnataka to Delhi. Subsequently, pursuant to special resolution passed by our Shareholders at an extraordinary general meeting dated June 3, 2022, the name of our Company was changed to ‘Canara HSBC Life Insurance Company Limited’ after Oriental Bank of Commerce ceased to be in existence pursuant to the scheme of amalgamation of Oriental Bank of Commerce with PNB, which became effective from April 1, 2020 and a fresh certificate of incorporation, consequent upon change of name, was issued to our Company by the RoC on June 15, 2022.

Further, our Company was granted a certificate of registration dated May 8, 2008 by the IRDAI to carry out the business of life insurance.

Major Events:

2008

- Incorporated under the name of ‘Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited’

2009

- Granted a certificate of registration by the IRDAI to carry out the business of life insurance and commenced business operations

2010

- According to CRISIL Report, one of the few companies to cross ?5,000.00 million new business premium (first year and single premium) in second year of operations

2011

- Sold 0.11 million new policies

2013

- According to CRISIL Report, became one of the fastest life insurance company to generate profits in fifth year of operations

2016

- Crossed total premium of ?20,000.00 million

2019

- Wiped off accumulated losses

2021

- Crossed total premium of ?50,000.00 million

- Crossed ?1,600.00 billion in sum assured

2022

- Crossed ?250.00 billion assets under management

- Declared final dividend of ?285.00 million to our Shareholders

2023

- Launched new brand identity with change in logo and the name of our Company was changed to ‘Canara HSBC Life Insurance Company Limited’

2024

- Declared customer bonus of ?2,318.78 million

- Covered 8.86 million lives

- Crossed embedded value of ?50,000.00 million

2026

- Declared ?2,500.00 million bonus for policyholders for Fiscal 2025