HSBC to enter India life-insurance market
The worldÆs local bank signs MOU with two Indian banks to develop a life-insurance business.
HSBC Insurance Asia-Pacific has joined forces with Canara Bank and Oriental Bank of Commerce (OCB) to develop a new life-insurance company in India. All three parties have signed a non-binding memorandum of understanding (MOU) to create the company and will take different percentage holdings under the proposed agreement.HSBC will offer a range of management services, which may include providing executives for senior roles and experience in products and distribution channels like banca…
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