Canara HSBC Life partners Equitas SFB for bancassurance

The bank has a network of 994 branches and 365 ATMs.

Canara HSBC Life Insurance Company Limited has entered into a bancassurance partnership with Equitas Small Finance Bank to distribute life insurance across India.

Under the agreement, Canara HSBC Life Insurance will offer life protection, savings, annuity, child plans and unit-linked products through Equitas Small Finance Bank’s network of 994 branches and 365 ATMs across 18 states and Union Territories. 

The bank has a strong presence in Tamil Nadu, Karnataka, Kerala and Maharashtra.

Soly Thomas, Chief Distribution Officer – Bancassurance at Canara HSBC Life Insurance, said the partnership will help expand access to life insurance through Equitas’ customer base and branch network. 

Murali Vaidyanathan, Senior President and Country head for Liabilities, Wealth Management and Digital Banking at Equitas Small Finance Bank, said the tie-up allows the bank to offer insurance as part of a broader financial planning proposition for its customers.