HSBC Insurance Holdings is in talks with the Oriental Bank of Commerce and Canara HSBC Oriental Bank of Commerce Life Insurance Company ( OBC ) over increasing its stake from 51% in their joint venture, following the Indian government allowing foreign investment in insurance to rise to 51% in the country. Canara HSBC Oriental Bank of Commerce Life Insurance Company was formed by the three firms in 1999 , with Canara holding 51% , HSBC 26% and OBC 23% stakes in venture.
HSBC Insurance Holdings is in talks with Canara and the Oriental Bank of Commerce (OBC) over increasing its stake from 26% in their joint venture, following the Indian government allowing foreign investment in insurance to rise to 49% in the country. Canara HSBC Oriental Bank of Commerce Life Insurance Company was formed by the three firms in 2008, with Canara holding 51%, HSBC 26% and OBC 23% stakes in venture.