New Delhi: Canara HSBC Life Insurance Company Limited (“Canara HSBC Life Insurance”) has announced the re-designation of Soly Thomas as Deputy Chief Executive Officer and Chief Distribution Officer – Bancassurance.
A founding member associated with the Company since 2008, Soly has played a pivotal role in shaping its growth journey and strengthening its market position. Over the past 18 years, he has been instrumental in building the Company’s bancassurance distribution strategy, leading the integrated sales network across Canara Bank, regional rural banking partners, and more recently, HSBC. There is no other change in the organisational structure, and Soly will continue to lead the bancassurance business, reporting to the MD & CEO.
Commenting, Anuj Mathur, Managing Director & CEO, Canara HSBC Life Insurance, said, “I am delighted to announce the re-designation of Soly Thomas to the role of Deputy Chief Executive Officer and CDO – Bancassurance. Soly’s relentless commitment, deep market understanding, vintage and strategic leadership have been pivotal to the Company’s success. His contribution in building and scaling our distribution ecosystem has been exemplary. In his expanded capacity, we look forward to leveraging his insights as we drive the organization into its next phase of sustainable growth.”
Sharing his perspective, Soly Thomas said, “I am truly honored by the trust and confidence the Board and the Company have placed in me. This recognition reflects the collective effort of our teams and partners over the years. I look forward to working closely with the leadership group to further consolidate our strengths, enhance customer value, and accelerate the Company’s long-term growth agenda.”
In recent years, Canara HSBC Life Insurance has continued to strengthen its leadership position through sustained performance and value creation. As of 9M FY26, the Company ranked 9th on an Individual WPI basis. It recorded 20% growth compared to 13% growth among private insurers and 10% industry growth during the same period. The Company’s overall industry market share stood at 2.1%, up 0.2% year-on-year, while its market share among private insurers rose to 2.9%, up 0.1% year-on-year. Further underscoring its growth trajectory and governance maturity, the Company successfully completed its Initial Public Offering earlier this financial year and is now publicly listed on Indian stock exchanges.
