The bancassurance alliance will allow Canara HSBC Life Insurance to distribute its life insurance portfolio through West Bengal Gramin Bank’s 960 branches across West Bengal, targeting rural and semi‑urban customers.
The partnership was formalized in New Delhi in the presence of Chairman Shri Alok K Goel and General Manager Shri Rajesh Kumar Mishra of WBGB, and Canara HSBC Life executives Soly Thomas (Deputy CEO & Chief Distribution Officer – Bancassurance) and Amit Joshi (National Business Head).
Canara HSBC Life Insurance is a joint venture promoted by Canara Bank (36.5 % share), HSBC Insurance (Asia Pacific) Holdings Limited (25.5 %) and Punjab National Bank (13 %). The company operates 107 branch offices pan‑India as of 31 March 2026, with its corporate office in Gurugram, Haryana.
The collaboration will offer a wide range of life‑insurance solutions covering protection, savings, long‑term wealth creation and family financial security, aiming to increase insurance penetration in the region.
Quotes: Soly Thomas emphasized the partnership strengthens the bancassurance distribution network and extends meaningful insurance solutions to underserved regions. Alok K Goel highlighted that the tie‑up enhances the value offered to WBGB customers through comprehensive life‑insurance access.
