ESG ‘Leader’ Rating Announcement
Canara HSBC Life Insurance Company Limited was recognised in the ‘Leader’ rating category of the FY2026 Environmental, Social and Governance (ESG) assessment conducted by NSE Sustainability Ratings & Analytics Limited, achieving an overall ESG score of 71. The assessment broke down the score into Environment 79, Governance 75, and Social 63.
Environmental Performance
The rating highlighted that the insurer’s greenhouse‑gas emissions from direct operations and its energy consumption are below industry averages. It also reported significantly lower energy and waste intensity compared with peers and noted strong waste‑recycling and recovery practices.
Social Performance
On the social front, the company recorded a lost‑time incident rate of zero and no employee fatalities during the year. 100% of employees were covered under health and safety training programmes. The workforce is balanced, with women constituting 36.69% of total staff, and the customer complaint frequency was reported to be below relevant benchmarks.
Governance Assessment
Governance appraisal recognised a robust oversight framework, with board independence levels exceeding regulatory requirements and strong independent representation across key board committees. The insurer also maintains comprehensive anti‑corruption and sustainability governance policies.
Management Commentary
Anuj Mathur, Managing Director & Chief Executive Officer, stated: “Being recognised in the ‘Leader’ category is a strong affirmation of our belief that sustainable growth and responsible business practices go hand in hand. At Canara HSBC Life Insurance, ESG is not a standalone agenda but an integral part of how we create long‑term value, manage risk, strengthen stakeholder trust and build organisational resilience. As we continue to grow, we remain committed to embedding these principles across our business and delivering meaningful outcomes for our customers, employees, shareholders and communities.”
Assessment Methodology
The FY2026 ESG assessment employed a sector‑specific framework that evaluates companies across environmental, social and governance parameters. It considered performance, policies, disclosures, governance practices and management of material ESG risks and opportunities, drawing on publicly available information such as annual reports, Business Responsibility and Sustainability Reports (BRSR), stock‑exchange filings and other public sources, and benchmarked the insurer against industry peers.
Company Background
Incorporated in 2007, Canara HSBC Life Insurance is a public listed entity co‑promoted by Canara Bank (36.5%) and HSBC Insurance (Asia‑Pacific) Holdings Limited (25.5%), with the remaining shareholding held by public investors, including Punjab National Bank (13%). Headquartered in Gurugram, Haryana, the insurer operates a bancassurance‑led model with 107 branch offices across India as of 30 September 2026. It offers a diversified portfolio of life‑insurance solutions—including individual and group life, term plans, retirement solutions, credit life and employee‑benefit products—distributed through Canara Bank, HSBC Bank, other bancassurance partners and digital channels. The company’s philosophy, “Promises Ka Partner,” emphasizes simpler insurance and faster claim processes.