Canara HSBC Oriental Bank of Commerce Life Insurance Plans Expansion

Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited – a joint venture between two of India’s largest public sector banks, Canara Bank and Oriental Bank of Commerce, and HSBC Insurance (Asia Pacific) Holdings Limited, has entered into a strategic distribution tie-up with HSBC InvestDirect, one of India’s leading financial services organizations. HSBC InvestDirect provides a wide range of services such as security broking, depository services, investment advisory, distribution of financial products, and securities related financing to its customers.

Announcing the distribution tie-up, Mr Harpal Karlcut, Chief Executive Officer, Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited, said, “In addition to increasing our footprint across the country, the tie-up will benefit the customers of HSBC InvestDirect to whom the entire range of product offerings will be available. This will help them plan and achieve their financial goals at every stage of their lives.”

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HSBC InvestDirect offers a comprehensive range of value-added products and services backed by a professional service orientation for retail and corporate customers. The business activities undertaken by HSBC InvestDirect include (i) Securities Broking; (ii) Depository Services (iii) Investment Advisory; (iv) Distribution of financial products; and (v) Securities related financing (NBFC).

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