Canara HSBC Life Insurance 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. Subsequently, pursuant to special resolution passed by its Shareholders at an extraordinary general meeting dated June 3, 2022, the name of the company was changed to ‘Canara HSBC Life Insurance Company Limited’ and a fresh certificate of incorporation, consequent upon change of name, was issued to the company by the RoC on June 15, 2022.It offers a comprehensive range of life insurance products tailored for both individual and group (i.e., companies, businesses or organizations) customers. Its offerings primarily include saving and endowment plans, term (pure protection) plans, retirement solutions, group credit life and protection plans and the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).

Its product portfolio comprises several individual products, many group products and few optional rider benefits, along with policies under the PMJJBY scheme. Its products have comprehensive protection, guaranteed income and market-linked growth features. It also delivers options like multiple payout choices, investment management flexibility and the ability to customize through a breadth of plan and fund offerings, including limited pay annuity plans and over ten fund choices in unit-linked products.It also actively engages with customers through digital channels, such as its websites and mobile apps, complemented by strategic alliances with brokers and corporate agents that enhance customer choices and extend its reach across India.

Additionally, it has established a direct sales model, supported by a dedicated field force, ensuring personalized service and customer engagement. Furthermore, through its defense channels, it focuses on armed forces personnel and their families, offering tailored insurance products designed to meet their unique needs. This segment is crucial for providing financial security to those serving in the armed forces.

Its strategic approach ensures that it reaches a wide audience, enhance financial inclusion and remain responsive to dynamic market needs.Business area of the companyThe company is a private life insurer in India and promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings, a member of the HSBC group, whose global reputation as a financial institution adds credibility and brand value to it. It offers a comprehensive range of life insurance products tailored for both individual and group (i.e., companies, businesses or organizations) customers. Its offerings primarily include saving and endowment plans, term (pure protection) plans, retirement solutions, group credit life and protection plans and the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).Products portfolioof the companyParticipating PlansCanara HSBC Life Insurance Promise4FutureNon-Participating Savings PlansCanara HSBC Life Insurance Guaranteed Assured IncomeCanara HSBC Life Insurance iSelect Guaranteed FutureCanara HSBC Life Insurance iSelect Guaranteed Future PlusCanara HSBC Life Insurance Guaranteed Fortune PlanCanara HSBC Life Insurance Guaranteed Suraksha KavachCanara HSBC Life Insurance Young Term PlanCanara HSBC Life Insurance iSelect Smart360 PlanCanara HSBC Life Insurance Saral Jeevan BimaCanara HSBC Life Insurance Promise2ProtectUnit Linked Insurance PlansCanara HSBC Life Insurance Wealth EdgeCanara HSBC Life Insurance Alpha WealthCanara HSBC Life Insurance Promise4GrowthCanara HSBC Life Insurance Promise4Growth PlusCanara HSBC Life Insurance SecureInvestCanara HSBC Life Insurance EZ Pension PlanCanara HSBC Life Insurance Future Dollar InvestmentAnnuity PlansCanara HSBC Life Insurance Smart Guaranteed PensionCanara HSBC Life Insurance Pension4Life PlanCanara HSBC Life Insurance Saral PensionGroup Protection Plans (including credit life)Canara HSBC Life Insurance Group Term Edge PlanCanara HSBC Life Insurance Group Advantage Term PlusCanara HSBC Life Insurance Sampoorna Kavach PlanCanara HSBC Life Insurance Group SecureCanara HSBC Life Insurance Group Asset SecureCanara HSBC Life Insurance Group Secure PlusGroup NL Fund Based ProductCanara HSBC Life Insurance Group Traditional PlanRidersCanara HSBC Life Insurance Accidental Benefit RiderCanara HSBC Life Insurance Linked Critical Illness Benefit RiderPMJJBYCanara HSBC Life Insurance Pradhan Mantri Jeevan Jyoti Bima YojnaAwards and recognitions2016: Awarded the ‘Golden Peacock Award’ for corporate social responsibility by the Institute of Directors2016: Awarded the ‘Golden Peacock Award’ for Corporate Ethics by the Institute of Directors2019 Awarded under the category ‘Best Life Insurance Company (Bancassurance)’ at the CMO Confluence Corporate Awards organised by Insurance Alertss2019: Awarded under the category ‘Best Insurer in Asia’ at the IDC FIA, 20192020: Recognised as ‘The Economics Times Best Brands 2020’2020: Awarded under the category ‘Life Insurance Company of the Year’ at the India Insurance Summit and Awards, 20202020: Awarded under the category ‘Life Insurance Company of the Year (Large)’ at the National Awards for Excellence in Financial Services Marketing2021: Awarded under the category ‘Business Transformation Leader Award’ at the Mint - TechCircle Business Transformation Awards, 20212021: Awarded under the category ‘Best Financial Inclusion Initiative of the year (Insurance)’ at the ET BFSI Excellence Award, 20212022: Awarded certificate of excellence under the category ‘Best Product Innovation in Private Life Insurance’ at the Navbharat BFSI Awards, 20222022: Certified ‘Best Workplaces for Women’ by Great Place to Work Institute, India in the Top 100 Large India’s best workplaces for women category2022: Awarded under the category ‘Best Use of Data Analytics in Predictive Modeling’ at the Martech Leadership Awards2022: Awarded as the second best under the category ‘IV-life insurance’ at the ICAI Awards for Excellence in Financial Reporting2022: Certified ‘Great Place to Work’ by Great Place to Work Institute, India January 2022-January 20232022: Awarded as ‘Amiable Insurer’ under the ‘life insurance-compact’ category at the ET Insurance Awards, 20222023: Awarded ‘Video Campaign of the Year’ at the Global Brand Excellence Awards2023: Awarded as ‘Amiable Insurer’ under the ‘life insurance-compact’ category at the ET Now Insurance Awards, 20232023: Awarded certificate of excellence under the category ‘Best Natural Resource Preservation Initiative of the Year - 2023 (Corporate)’ at the Indian CSR Awards2023: Awarded under the category ‘Most Effective Use of Influencer Marketing’ at Pitch BFSI Marketing Awards, 20232023: Recognized under the Teammarksmen Masters of CX2023: Certified ‘Best Workplaces for Women’ by Great Place to Work Institute, India in the Top 100 Large India’s best workplaces for women category2023: Certified ‘Best Workplaces in BFSI’ by Great Place to Work Institute, India in the Top 50 India’s best workplaces in BFSI category2023: Certified ‘Great Place to Work’ by Great Place to Work Institute, India for January 2023-January 20242023: Awarded under the category ‘Best use of technology to enhance customer experience’ at the Customer FEST Leadership Awards, 20232024: Awarded under the category ‘Life Insurance Company of The Year’ by India Insurance Summit and Awards, 20242024: Awarded under the category ‘Risk Management Innovation of the Year’ by India Insurance Summit and Awards, 20242024: Awarded as an ‘Amiable Insurer’ under the ‘Life Insurance - Compact’ by ET Now2024: Recognised for excellence in social impact by ET Edge2024: Awarded under the category ‘Best use of net promoter score in life insurance’ at the 3rd Annual Excellence Awards, 20242024: Certificate of excellence for ‘Best Environmental Sustainability Initiative of the year - 2024’ at the Indian CSR Awards2024: Recognized as one of the ‘Best Brands’ at ET Edge’s Best Brands, 20242024: Certificate of appreciation at ‘Bharat Shrestha Sewa Sanstha Puraskar 2024’ under the institutional category by Utsav Foundation2024: Certified ‘Great Place to Work’ by Great Place to Work Institute, India for January 2024-January 20252025: Certified ‘Great Place to Work’ by Great Place to Work Institute, India for January 2025-January 20262025: Certified ‘Best Workplaces in BFSI’ by Great Place to Work Institute, India in BFSI category2025: Awarded ‘bronze’ award under the ‘AI-Powered Engagement - successful use of technology’ category at the 14th ACEF Global Customer Engagement Awards, 20252025: Certified ‘Great Place to Work’ by Great Place to Work Institute, India for January 2025-January 20262025: Certified ‘Best Workplaces in BFSI’ by Great Place to Work Institute, India in BFSI category2025: Awarded ‘bronze’ award under the ‘AI-Powered Engagement - successful use of technology’ category at the 14th ACEF Global Customer Engagement Awards, 2025History and millstonesFY2008: Incorporated under the name of ‘Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited’FY2009: Granted a certificate of registration by the IRDAI to carry out the business of life insurance and commenced business operationsFY2010: According to the CRISIL Report, one of the few companies to cross Rs 5,000.00 million new business premium (first year and single premium) in second year of operationsFY2011: Sold 0.11 million new policiesFY2013: According to the CRISIL Report, became one of the fastest life insurance company to generate profits in fifth year of operationsFY2016: Crossed total premium of Rs 20,000.00 millionFY2019: Wiped off accumulated lossesFY2021: Crossed total premium of Rs 50,000.00 millionFY2021: Crossed Rs 1,600.00 billion in sum assuredFY2022: Crossed Rs 250.00 billion assets under managementFY2022: Declared final dividend of Rs 285.00 million to its ShareholdersFY2023: Launched new brand identity with change in logo and name of its Company to ‘Canara HSBC Life Insurance Company Limited’FY2024: Declared customer bonus of Rs 2,318.78 millionFY2024: Covered 8.86 million livesFY2024: Crossed embedded value of Rs 50,000.00 millionFY2026: Declared Rs 2,500.00 million bonus for policyholders for Fiscal 2025FY2026: Crossed 1 million retail inforced policies