Canara HSBC OBC Life has renamed itself as Canara HSBC Life following its third partner Punjab National Bank’s (PNB’s) decision to exit. PNB had acquired a stake in the company following the amalgamation of Oriental Bank of Commerce (OBC). Currently, Canara Bank holds 51% in the insurance arm, HSBC holds 26% and PNB 23%. Following PNB’s decision to exit, the stake is likely to be acquired by existing shareholders.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Announcing the rebranding of the company, Canara HSBC Life MD Anuj Mathur said that the company has turned in a profit despite Rs 500 crore of additional claims due to Covid-19. The strategy was to diversify business beyond bancassurance.
National News Glaw Lake Becomes India's 101st Ramsar Site, First for Arunachal India has expanded…
The Government of India has initiated an Offer for Sale (OFS) for the Life Insurance…
The Pacific island nation which previously used the name Nauru has officially made a shift…
Staying updated with current affairs is one of the most important aspects of competitive exam…
Annapurni Subramaniam, an Indian astrophysicist, has received the COSPAR Vikram Sarabhai Medal for the year…
Nathan Thomas, an engineering teacher in the America, has achieved the record of being the…