Canara HSBC Life Insurance Company has accepted the resignation of Tarun Rustagi from the position of Chief Financial Officer, effective August 31, 2026.

Leadership transition at Canara HSBC Life

The private life insurer confirmed that Rustagi tendered his resignation on August 25, 2026, to pursue growth opportunities outside the organization. The Board accepted the resignation with his last working day set for November 24, 2026.

Rustagi served as CFO for seven years. In his resignation letter, he highlighted the company’s financial strengthening and its successful listing and capital raising from the market during his tenure.

Anuj Mathur, Managing Director and Chief Executive Officer, acknowledged the resignation and thanked Rustagi for his contributions. He requested a smooth transition of responsibilities during the notice period.

Canara HSBC Life Insurance Company Limited has entered into a Corporate Agency Agreement with The Hongkong and Shanghai Banking Corporation Limited, GIFT City Branch (HSBC IBU). The deal, executed on August 25, 2026, enables the distribution of the insurer’s products through HSBC IBU’s branch in GIFT City, Gujarat.

Deal Structure and Terms

The agreement allows Canara HSBC Life to leverage the banking unit’s presence in the International Financial Services Centre. Under the terms, the insurer will pay commissions to HSBC IBU as per its board-approved commission policy. No specific monetary value or duration was disclosed in the filing.

Related Party Disclosure

HSBC is a promoter group entity of Canara HSBC Life. Consequently, the transaction qualifies as a related-party transaction. The company confirmed that the agreement was executed at arm’s length. There are no special rights attached to the deal, such as director appointments or share subscription rights. No conflict of interest or nominee directorship arises from this arrangement.