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 Punjab National Bank (holding 23%).
- The Company operates a bancassurance model
- It has an exclusive access to around 6 Cr customers and a network of 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 Rs. 500 Cr, Rs. 1000 Cr, Rs. 1500 Cr and Rs. 2000 Cr 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 Rs. 950 Cr (as on 31st January 2016).