Latest news with #CanaraHSBCLifeInsurance
Business Standard
3 days ago
- Business
- Business Standard
Canara HSBC Life Insurance Declares Rs250 Crore Bonus for FY 2025
PRNewswire New Delhi [India], May 30: Canara HSBC Life Insurance Company Limited ("Canara HSBC Life Insurance"), has announced a bonus of Rs250 crore for FY25, benefiting around 2.27 lac policyholders as of 31st March 2025 holding participating policies with the Company. This bonus reflects the company's financial performance and dedication to delivering value to its customers. The total bonus amount declared by the Company in FY25 has grown by 7.90% as compared to FY24. Reaffirms policyholder trust and the company's financial strength through sustained value creation. All participating policies in force as of March 31, 2025 are eligible for this bonus. The declared bonus will be allocated to policyholders' accounts and will be payable upon policy maturity, surrender, or as per the policy terms. Anuj Mathur, MD & CEO, Canara HSBC Life Insurance while commenting on the announcement said, "We are pleased to declare a bonus of Rs250 crore for the financial year 2025, a reflection of our enduring financial strength, prudent investment strategy, and unwavering focus on creating long-term value for our policyholders. This milestone reinforces our commitment to delivering on the promises we make and to safeguarding the financial future of the families we serve. We are deeply grateful to our customers for their continued trust and confidence in Canara HSBC Life Insurance." In participating policies or with profit plans, life insurance companies share the profits in the form of bonuses with policyholders, reflecting a shared partnership between the insurer and policyholders. Bonuses declared in each financial year are accumulated and distributed upon policy maturity, death or surrender. Additionally, cash bonuses are paid out on specific policy events in accordance with policy conditions. About Canara HSBC Life Insurance: Incorporated in 2007, Canara HSBC Life Insurance Company Limited is promoted by Canara Bank and HSBC Insurance (Asia Pacific) Holdings Limited. Punjab National Bank is also a shareholder of the Company. As a bancassurance led insurance company with its corporate office at Gurugram, Haryana and more than 100 branch offices as of January 2025, pan India, Canara HSBC Life brings together the trust and market knowledge of public and private banks. For more than 15 years now, the Company sells and services customers through multiple channels and well diversified network of Canara Bank and the Indian branch of the Hongkong and Shanghai Banking Corporation Limited in multiple cities across the country. The Company has a vast portfolio of life insurance solutions and offers various products across individual and group space comprising of life, term plans, retirement solutions, credit life and employee benefit segments through partner banks, digital, and direct field force. With an aim to provide simpler insurance and faster claim process, the Company intends to keep the promises of their customers alive with their 'Promises Ka Partner' philosophy. Canara HSBC Life Insurance Company Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares and has filed a draft red herring prospectus dated April 28, 2025 ("DRHP") with the Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of the Company at , the SEBI at the website of National Stock Exchange of India Limited at and the website of BSE Limited at and the respective websites of the Lead Managers at , and Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP which may be filed with the Registrar of Companies, Delhi and Haryana at New Delhi, in the future, including the section titled "Risk Factors". Potential investors should not rely on the DRHP filed with the SEBI, but should instead rely only on the RHP, in making any investment decision. The equity shares proposed to be offered in the initial public offering may not be offered or sold in the United States except pursuant to an exemption from, or in transactions not subject to, the registration requirements of the U.S. Securities Act of 1933, as amended. There will be no public offer of securities in the United States.
Business Upturn
3 days ago
- Business
- Business Upturn
Canara HSBC Life Insurance Declares ₹250 Crore Bonus for FY 2025
Reaffirms policyholder trust and the company's financial strength through sustained value creation NEW DELHI, May 30, 2025 /PRNewswire/ — Canara HSBC Life Insurance Company Limited ('Canara HSBC Life Insurance'), has announced a bonus of ₹250 crore for FY25, benefiting around 2.27 lac policyholders as of 31st March 2025 holding participating policies with the Company. This bonus reflects the company's financial performance and dedication to delivering value to its customers. The total bonus amount declared by the Company in FY25 has grown by 7.90% as compared to FY24. Advertisement All participating policies in force as of March 31, 2025 are eligible for this bonus. The declared bonus will be allocated to policyholders' accounts and will be payable upon policy maturity, surrender, or as per the policy terms. Mr. Anuj Mathur, MD & CEO, Canara HSBC Life Insurance while commenting on the announcement said, 'We are pleased to declare a bonus of ₹250 crore for the financial year 2025, a reflection of our enduring financial strength, prudent investment strategy, and unwavering focus on creating long-term value for our policyholders. This milestone reinforces our commitment to delivering on the promises we make and to safeguarding the financial future of the families we serve. We are deeply grateful to our customers for their continued trust and confidence in Canara HSBC Life Insurance.' In participating policies or with profit plans, life insurance companies share the profits in the form of bonuses with policyholders, reflecting a shared partnership between the insurer and policyholders. Bonuses declared in each financial year are accumulated and distributed upon policy maturity, death or surrender. Additionally, cash bonuses are paid out on specific policy events in accordance with policy conditions. About Canara HSBC Life Insurance: Incorporated in 2007, Canara HSBC Life Insurance Company Limited is promoted by Canara Bank and HSBC Insurance (Asia Pacific) Holdings Limited. Punjab National Bank is also a shareholder of the Company. As a bancassurance led insurance company with its corporate office at Gurugram, Haryana and more than 100 branch offices as of January 2025, pan India, Canara HSBC Life brings together the trust and market knowledge of public and private banks. For more than 15 years now, the Company sells and services customers through multiple channels and well diversified network of Canara Bank and the Indian branch of the Hongkong and Shanghai Banking Corporation Limited in multiple cities across the country. The Company has a vast portfolio of life insurance solutions and offers various products across individual and group space comprising of life, term plans, retirement solutions, credit life and employee benefit segments through partner banks, digital, and direct field force. With an aim to provide simpler insurance and faster claim process, the Company intends to keep the promises of their customers alive with their 'Promises Ka Partner' philosophy. Canara HSBC Life Insurance Company Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares and has filed a draft red herring prospectus dated April 28, 2025 ('DRHP') with the Securities and Exchange Board of India ('SEBI'). The DRHP is available on the website of the Company at the SEBI at the website of National Stock Exchange of India Limited at and the website of BSE Limited at and the respective websites of the Lead Managers at and Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP which may be filed with the Registrar of Companies, Delhi and Haryana at New Delhi, in the future, including the section titled 'Risk Factors'. Potential investors should not rely on the DRHP filed with the SEBI, but should instead rely only on the RHP, in making any investment decision. The equity shares proposed to be offered in the initial public offering may not be offered or sold in the United States except pursuant to an exemption from, or in transactions not subject to, the registration requirements of the U.S. Securities Act of 1933, as amended. There will be no public offer of securities in the United States. Logo: View original content: Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
3 days ago
- Business
- Yahoo
Canara HSBC Life Insurance Declares ₹250 Crore Bonus for FY 2025
Reaffirms policyholder trust and the company's financial strength through sustained value creation NEW DELHI, May 30, 2025 /PRNewswire/ -- Canara HSBC Life Insurance Company Limited ("Canara HSBC Life Insurance"), has announced a bonus of ₹250 crore for FY25, benefiting around 2.27 lac policyholders as of 31st March 2025 holding participating policies with the Company. This bonus reflects the company's financial performance and dedication to delivering value to its customers. The total bonus amount declared by the Company in FY25 has grown by 7.90% as compared to FY24. All participating policies in force as of March 31, 2025 are eligible for this bonus. The declared bonus will be allocated to policyholders' accounts and will be payable upon policy maturity, surrender, or as per the policy terms. Mr. Anuj Mathur, MD & CEO, Canara HSBC Life Insurance while commenting on the announcement said, "We are pleased to declare a bonus of ₹250 crore for the financial year 2025, a reflection of our enduring financial strength, prudent investment strategy, and unwavering focus on creating long-term value for our policyholders. This milestone reinforces our commitment to delivering on the promises we make and to safeguarding the financial future of the families we serve. We are deeply grateful to our customers for their continued trust and confidence in Canara HSBC Life Insurance." In participating policies or with profit plans, life insurance companies share the profits in the form of bonuses with policyholders, reflecting a shared partnership between the insurer and policyholders. Bonuses declared in each financial year are accumulated and distributed upon policy maturity, death or surrender. Additionally, cash bonuses are paid out on specific policy events in accordance with policy conditions. About Canara HSBC Life Insurance: Incorporated in 2007, Canara HSBC Life Insurance Company Limited is promoted by Canara Bank and HSBC Insurance (Asia Pacific) Holdings Limited. Punjab National Bank is also a shareholder of the Company. As a bancassurance led insurance company with its corporate office at Gurugram, Haryana and more than 100 branch offices as of January 2025, pan India, Canara HSBC Life brings together the trust and market knowledge of public and private banks. For more than 15 years now, the Company sells and services customers through multiple channels and well diversified network of Canara Bank and the Indian branch of the Hongkong and Shanghai Banking Corporation Limited in multiple cities across the country. The Company has a vast portfolio of life insurance solutions and offers various products across individual and group space comprising of life, term plans, retirement solutions, credit life and employee benefit segments through partner banks, digital, and direct field force. With an aim to provide simpler insurance and faster claim process, the Company intends to keep the promises of their customers alive with their 'Promises Ka Partner' philosophy. Canara HSBC Life Insurance Company Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares and has filed a draft red herring prospectus dated April 28, 2025 ("DRHP") with the Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of the Company at the SEBI at the website of National Stock Exchange of India Limited at and the website of BSE Limited at and the respective websites of the Lead Managers at and Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP which may be filed with the Registrar of Companies, Delhi and Haryana at New Delhi, in the future, including the section titled "Risk Factors". Potential investors should not rely on the DRHP filed with the SEBI, but should instead rely only on the RHP, in making any investment decision. The equity shares proposed to be offered in the initial public offering may not be offered or sold in the United States except pursuant to an exemption from, or in transactions not subject to, the registration requirements of the U.S. Securities Act of 1933, as amended. There will be no public offer of securities in the United States. Logo: View original content:
India.com
22-05-2025
- Business
- India.com
Nearly 90 Firms File Draft Papers For IPOs In 1st Five Months Of 2025
New Delhi: Despite ongoing global market volatility, nearly 90 companies have submitted draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (SEBI) between January and May 2025, signalling continued interest in going public. Data from the SEBI website reveals that January saw the highest activity, with 28 companies filing draft papers, followed by 15 in February, 11 in March, 24 in April, and 12 so far in May. The surge in DRHP filings comes at a time when the actual number of initial public offerings (IPOs) hitting the market has been significantly lower compared to the same period last year. Only nine companies have made their debut on the mainboard segment between January and May this year, compared to over 25 in the same period in 2024. Among the notable names that have filed for IPOs this year are Canara HSBC Life Insurance, Canara Robeco Asset Management Company, Anand Rathi Share and Stock Brokers, and WeWork India. Filing a DRHP is the first step for companies aiming to raise funds through an IPO. The document outlines key information such as financial performance, business operations, risks, and other disclosures required by the SEBI. While the interest in IPOs remains steady, the weak listing momentum reflects broader concerns triggered by global uncertainties. The Indian equity markets have experienced significant fluctuations in 2025, impacted by geopolitical tensions and tariff-related measures, particularly from the United States. Since the beginning of the year, the Sensex has posted a return of 2.73 per cent, while the Nifty has gained around 3 per cent -- both reflecting cautious optimism amid a turbulent global environment. Meanwhile, IPOs in the biopharmaceutical sector saw a sharp rebound in 2024, jumping 68.4 per cent year-on-year (YoY) to $8.52 billion, according to a new report by GlobalData. A total of 50 IPOs were completed globally in the sector this year, up from $5.06 billion raised in 2023, making it the strongest year for biopharma IPOs since 2021, the report said.
Time of India
29-04-2025
- Business
- Time of India
Canara HSBC Life Insurance files DRHP with Sebi for IPO
Canara HSBC Life Insurance has filed its DRHP with SEBI for an IPO comprising 23.75 crore equity shares via offer for sale. Promoted by Canara Bank and HSBC, the insurer ranks high among public-sector-led peers in assets and lives covered. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Canara HSBC Life Insurance Company, a prominent bank-led private insurer in India, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO).The IPO will be a pure offer for sale (OFS) comprising up to 23.75 crore equity shares with a face value of Rs 10 offering includes up to 13,77,50,000 shares by Canara Bank , up to 47.50 lakh shares by HSBC Insurance (Asia-Pacific) Holdings Limited, and up to 9.50 crore shares by Punjab National Bank , which is categorized as an investor selling by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings, the company benefits from the strong domestic presence of one of India's largest public sector banks and the global brand value of of December 31, 2024, Canara Bank is ranked as the fourth-largest public sector bank in India by total assets, according to a CRISIL in 2007, Canara HSBC Life Insurance has steadily built its presence in the Indian life insurance sector. It is ranked third in assets under management (AUM) among public-sector-promoted life insurers as of March 31, 2024, and stood among the top five bank-led life insurers based on the number of lives covered in the company ranked second among public sector bank-led life insurers by lives covered during the same company's growth trajectory has been marked by strong financial performance. Its Annualized Premium Equivalent (APE) has consistently grown over the years. The company's profit after tax surged at a CAGR of 232.61%, rising from Rs 102.43 million in FY22 to Rs 1,133.17 million in FY24. For the nine months ended December 31, 2024, profit stood at Rs 848.93 equity shares are proposed to be listed on both the BSE and the National Stock Exchange (NSE).SBI Capital Markets, BNP Paribas , HSBC Securities & Capital Markets (India), JM Financial , and Motilal Oswal Investment Advisors are acting as the Book Running Lead Managers (BRLMs) to the issue.
