Canara HSBC Life Insurance Company Limited

About the company

Incorporated in 2007, Canara HSBC Life Insurance is a private life insurer in India, jointly promoted by Canara Bank, India’s fourth largest public sector bank, and HSBC Insurance (Asia-Pacific) Holdings Limited, part of the globally recognised HSBC Group. Over the years, the company has grown into a prominent bank-led private player in the Indian life insurance sector. According to the CRISIL report, the company’s individual weighted premium income (“WPI”) collected grew the third-highest amongst bank-led insurers between FY22 and FY25, while it had the third-highest assets under management amongst public sector bank-promoted life insurers, as at March 31, 2025. Canara HSBC Life Insurance has bancassurance tie-ups with Canara Bank, HSBC India, and seven associate regional rural banks that provide it with a wide network of more than 15,700 branches in India. Bancassurance remains the business driver accounting for 92.33% of the company's new business premium as of June 30, 2025. The company has a multi-channel distribution network of brokers, corporate agents, and direct sales, which includes sales on digital platforms. The company’s offerings primarily include saving and endowment plans, term (pure protection) plans, retirement solutions, group credit life and protection plans. It has a product portfolio comprising 20 individual products, 7 group products, and 2 optional rider benefits. These products have comprehensive protection, guaranteed income and market-linked growth features. Product mix during FY25 comprised 53.68% unit-linked (ULIP), 20.04% non-participating savings, 8.69% participating, and 13.11% annuity business, revealing strategic diversification across the customer base. The company also engages in social insurance under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Canara HSBC Life's business model has been driven by digital transformation. Over 99.70% of policy requests were digitally processed as of June 30, 2025, of which 67% utilised straight-through processing (fully automated issue without manual intervention). The 13th-month persistency ratio stood at 84.25% for Q1FY26, improving by over 900 bps over FY23, while the 61st-month persistency ratio increased to 58.20%. Canara HSBC Life's technology-based solutions include the use of AI, predictive analytics, and automation in customer acquisition, underwriting, and renewal. The company has developed solutions like 'Compass' for sales management and in-built predictive models for early claims identification and customer retention. These technologies have enhanced operating efficiency, wherein 86.56% of service requests and 80.83% of communications are now processed through digital interfaces in Q1FY26. The total premium for life insurers is expected to log 8% to 10% CAGR over the next 4 years ending fiscal 2028, while bank-led insurers are expected to grow faster at 10% to 12% CAGR over the same period in the Indian Life Insurance Sector. Canara HSBC is well-positioned to benefit from this growth, given its strong bancassurance network covering 15,700+ branches and access to 11.7 crore banking customers through Canara Bank, HSBC India, and regional rural banks, with over 90% of new business premiums sourced via bancassurance, which positions the company to effectively reach India’s expanding young and insurable population. The company is aiming to enhance penetration in its existing distribution network, diversify its revenue stream. To promote rural insurance products, the company is actively collaborating with local non-government organisations. Additionally, it continues to leverage technology and analytics to enhance productivity and improve consumer experience. Now, Canara HSBC Life Insurance is launching its initial public offering (IPO), which is a complete offer for sale of ₹2,517.50. Its shares will be listed on the NSE and BSE.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   10 Oct 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   14 Oct 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   15 Oct 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   16 Oct 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   16 Oct 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   17 Oct 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.