Canara HSBC Life Insurance Collaborates with GIC Housing Finance to Provide Credit Life Insurance Solutions.

Banking & Finance

In March 2025, Gurgaon (Haryana)-based Canara HSBC Life Insurance Company Limited formed a partnership with Mumbai (Maharashtra)-based GIC Housing Finance Limited (GICHF), a subsidiary of the General Insurance Corporation (GIC) of India, to offer credit life insurance solutions to home loan borrowers.


      - As part of the partnership, Canara HSBC Life Insurance will introduce its ‘Group Asset Secure’ plan, a specialized credit life insurance product, through GIC Housing Finance’s expansive customer network.

      - The collaboration leverages GIC Housing Finance’s lending expertise and Canara HSBC Life Insurance’s customer-centric insurance solutions.

     

Main Point :-   (i) The goal is to provide financial security to borrowers and their families, protecting them from loan liabilities in case of unforeseen circumstances.

      (ii) Canara HSBC Life Insurance is a joint venture (JV) comprising Canara Bank Limited (51%), HSBC Insurance (Asia Pacific) Holdings Limited (26%), and Punjab National Bank (PNB) (23%).


          ____________________________