Punjab National Bank Reduces its Stake in Canara HSBC Life Insurance
| ➡️ Get instant news updates on Whatsapp. Click here to join our Whatsapp Group. |
Punjab National Bank (PNB) – India’s second largest Public Sector Bank, has reduced its stake in Canara HSBC Life Insurance Company Limited from 23% to 13% through an Offer for Sale (OFS) in the company’s Initial Public Offering (IPO). PNB executed the stake sale on October 17, 2025 and divested 9.5 crore shares at a price of Rs 106.00 per share. This transaction resulted in a cash consideration of Rs 1,007.00 crores for the bank.
The details of the transaction are as below
| Particulars | Details |
|---|---|
| Previous Stake | 23.00% |
| Current Stake | 13.00% |
| Shares Sold | 9.50 crore |
| Price per Share | Rs 106.00 |
| Total Consideration | Rs 1,007.00 crores |
| Transaction Date | October 17, 2025 |
Financial Performance of Canara HSBC Life Insurance
The LODR data provides insight into the financial performance of Canara HSBC Life Insurance for the fiscal year ending March 31, 2025:
| Financial Metric | Amount (in Rs crores) |
|---|---|
| Net Worth | 1,516.90 |
| Income | 10,725.90 |
| Expenses | 10,597.80 |
| Profit Before Tax | 128.10 |
| Profit After Tax | 117.00 |
About Canara HSBC Life Insurance Company
Incorporated in 2007, Canara HSBC Life Insurance Company Limited is a joint venture promoted by Canara Bank (36.5 per cent) and HSBC Insurance (Asia Pacific) Holdings Limited (25.5 per cent). Punjab National Bank is also a shareholder of the Company, holding 13% as an investor. As a bancassurance-led insurance company with its corporate office at Gurugram, Haryana and more than 100 branch offices as of March 31, 2025, pan India, Canara HSBC Life brings together the trust and market knowledge of public and private banks.
For more than 17 years now, Canara HSBC Life Insurance has sold and services customers through multiple channels and a well-diversified network of Canara Bank and HSBC located in multiple [Tier 1, 2 and 3] cities across the country. Canara HSBC Life Insurance has a vast portfolio of life insurance solutions and offers various products across individual and group spaces comprising of life, health, term plans, retirement solutions, credit life and employee benefit segments through partner banks and digital.
