Canara HSBC Life Insurance Company Ltd

Dematerialisation status

• Details of securities dematerialised during the period were furnished to all stock exchanges.
• The entire shareholding is in electronic mode.
• There was no rematerialisation request received during the period.

Canara HSBC Life Insurance Company Limited – Trading Window closed from 1 October 2026 and to reopen 48 hours after the unaudited financial results for the quarter ending 30 September 2026 are announced

Resolutions and outcomes

• Item 1 (Special): Re-appoint Dr Kishore Kumar Sansi as NED-Independent for 3 years (27 Oct 2026–26 Oct 2029).
• Item 2 (Special): Re-appoint Supratim Bandyopadhyay as NED-Independent for 3 years (28 Nov 2026–27 Nov 2029).
• Outcome not disclosed in filing; results to be declared by 20 Oct 2026.
• Material impact: no capital changes; governance focus on independent director appointments.
• Dr Sansi: 38 years banking experience; ex-MD/CEO Vijaya Bank; independent.
• Mr Bandyopadhyay: 36 years in insurance/finance; ex LIC executive; independent.

Governance / Compliance

• IRDAI order dated 10 Sep 2026 imposes ₹1 crore penalty on the company.
• Penalty relates to policyholder interest under Protection of Policyholder Regulations 2024 and Corporate Governance Regulations 2024.
• IRDAI directed submission of an Action Taken Report within timelines.
• IRDAI SCN dated 12 Mar 2026 for mis-selling; company responded and attended hearing.

Independent Directors Reappointment

• Dr Kishore Kumar Sansi reappointed as Non-Executive Independent Director.
• Term: 27 October 2026 to 26 October 2029.
• Profile: 38+ years in banking; ex-MD/CEO Vijaya Bank; independent director roles.
• Not debarred by SEBI or other authorities.
• Mr Supratim Bandyopadhyay reappointed as Non-Executive Independent Director.
• Term: 28 November 2026 to 27 November 2029.
• Profile: 36+ years in insurance and finance; LIC roles; PFRDA chair.
• Relationship with other directors: None.

CFO resignation

• Tarun Rustagi resigns as CFO; resignation accepted; last working day November 24, 2026.
• Resignation accepted on August 31, 2026; transition to be managed during notice period.

Corporate Agency Agreement with HSBC IBU

• Entered into Corporate Agency Agreement with HSBC IBU, GIFT City, on 25 August 2026.
• Purpose: distribution of Canara HSBC Life Insurance products via HSBC IBU GIFT City branch.
• Commission payable to HSBC IBU as per board-approved commission policy.
• HSBC IBU is an IFSC unit; HSBC is a promoter group entity.
• Transaction is at arm's length.
• Shareholding in HSBC IBU: nil.
• Significant terms beyond commission policy: nil.
• Termination or amendments: not applicable.

AGM details

• AGM held on 20 August 2026 from 3:00 PM to 4:49 PM via VC/OAVM.
• Record date: 14 August 2026.
• Total shareholders on record: 84,865.

Key resolutions

• Ordinary: Adopt Audited Financial Statements for the year ended 31 March 2026.
• Ordinary: Declare dividend of ₹0.40 per equity share for FY ended 31 March 2026.
• Ordinary: Appoint director in place of retiring director.
• Ordinary: Re-appoint another director by rotation.
• Ordinary: Appoint statutory auditors and set remuneration.
• Ordinary: Appoint joint statutory auditors and set remuneration.
• Ordinary: Approve material related party transactions with promoter group Canara Bank for 2026-27.
• Ordinary: Approve material related party transactions with HSBC for 2026-27.

Voting results

• All eight resolutions passed.
• Dividend resolution passed with near-unanimous support.
• RPT with promoter bank passed with about 99.999% in favour.
• RPT with HSBC passed with about 99.999% in favour.
• No resolution failed.

Auditors and remuneration

• Remuneration for statutory auditors approved.
• Remuneration for joint statutory auditors approved.

Material related party transactions

• Material RPT with Canara Bank (Promoter Group) for 2026-27.
• Material RPT with HSBC for 2026-27.