Chennai, December 19, 2025: Canara HSBC Life Insurance Company Limited (“Canara HSBC Life Insurance”) has entered into a strategic bancassurance alliance with Equitas Small Finance Bank (“ESFB”), marking a significant step toward deepening life insurance penetration across India’s diverse markets.
This partnership underscores Canara HSBC Life Insurance’s commitment to making life insurance accessible for every segment of society. Through this collaboration, the company will offer its comprehensive portfolio of life protection, savings, annuity, child plans, and investment-linked solutions across Equitas SFB’s robust network of 994 banking outlets and 365 ATMs in 18 states and Union Territories, with a strong presence in Tamil Nadu, Karnataka, Kerala, and Maharashtra.
Commenting on the partnership, Mr. Soly Thomas, Chief Distribution Officer- Bancassurance, Canara HSBC Life Insurance, said “At Canara HSBC Life Insurance, we believe in forging partnerships that create meaningful impact. Our collaboration with Equitas Small Finance Bank is a strategic step toward expanding financial inclusion and delivering life insurance solutions that are simple, transparent, and trustworthy. Together, we aim to empower millions across India to plan for life’s uncertainties and build long-term financial security, reinforcing our commitment to being a true ‘Promises Ka Partner.’”
Sharing his views, Mr. Murali Vaidyanathan, Senior President & Country Head – Liabilities, Wealth Management & Digital Banking, Equitas Small Finance Bank said, “At Equitas, our mission has always been to enable financial inclusion through innovative and customer-centric solutions. Partnering with Canara HSBC Life Insurance allows us to offer our customers a holistic financial planning option, combining the trust of banking with the security of life insurance. With a wide range of protection-led offerings and the strength of our growing branch network, we are able to safeguard the lives and financial wellbeing of our customers more effectively. This collaboration strengthens our commitment to building sustainable, scalable solutions that help individuals and families achieve long-term financial resilience and peace of mind.”
By combining Equitas SFB’s extensive reach and phygital banking model with Canara HSBC Life Insurance’s trusted solutions, this alliance seeks to accelerate life insurance adoption across India’s diverse demographics. The partnership also aligns with IRDAI’s vision of ‘Insurance for All by 2047’, reinforcing both organizations’ commitment to financial inclusion and holistic customer well-being.
