Latest news with #CanaraHSBCLifeInsuranceCompanyLimited
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:
News18
29-04-2025
- Business
- News18
New IPO Alert: Canara HSBC Life Insurance Files DRHP With SEBI, Check Details
Last Updated: Canara HSBC Life Insurance filed for an IPO with SEBI, offering up to 237.5 million shares. Promoters are Canara Bank and HSBC Insurance. New IPO Launch: Canara HSBC Life Insurance Company Limited, a prominent bank led private player in the Indian life insurance sector has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO). Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited are the promoters of the company. The offer comprises of an Offer for sale of up to 237,500,000 Equity Shares of face value of ₹10 each, (The 'Offer for Sale") including up to 137,750,000 equity shares by Canara Bank ('Promoter Selling Shareholder"); up to 4,750,000 equity shares by HSBC Insurance (Asia-Pacific) Holdings Limited ('Promoter Selling Shareholder"); and up to 95,000,000 equity shares by Punjab National Bank ('Investor Selling Shareholder"). Canara HSBC Life Insurance Company Limited is a private life insurer in India and is promoted by Canara Bank (which ranks as the fourth largest public sector bank by total assets in India as at December 31, 2024. (Source: CRISIL Report)) and HSBC Insurance (Asia-Pacific) Holdings Limited, a member of The Hongkong and Shanghai Banking Corporation Limited ('HSBC") group, whose global reputation as a financial institution adds credibility and brand value to the company. The company had the third highest assets under management ('AUM") amongst public sector promoted led life insurers, as at March 31, 2024 (Source: CRISIL Report) and ranks amongst the top five bank led life insurers in India based on the number of lives covered for Fiscal 2024. (Source: CRISIL Report) Incorporated in 2007, Canara HSBC Life Insurance Company Limited has grown into a prominent bank led private player in the Indian life insurance sector as it ranks second amongst public sector bank led life insurers in India based on the number of lives covered for Fiscal 2024. (Source: CRISIL Report). The Annualised Premium Equivalent ('APE") of the Company has consistently grown, reflecting efforts to expand products and services and increase market presence. The profit after tax of the Company has increased at a CAGR of 232.61% from ₹102.43 million in Fiscal 2022 to ₹1,133.17 million in Fiscal 2024 and was ₹848.93 million in the nine months ended December 31, 2024 The equity shares are proposed to be listed on the stock exchanges being BSE Limited (the 'BSE") and National Stock Exchange of India Limited (the 'NSE", and together with the BSE, the 'Stock Exchanges"). SBI Capital Markets Limited, BNP Paribas , HSBC Securities & Capital Markets (India) Private Limited, JM Financial Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers to the issue.
