Canara HSBC Life Insurance Company Limited has announced the appointment of Sunil Kumar Chugh as an Additional Director in the category of Non-Executive and Non-Independent Director, with effect from 5 November 2026. The appointment was approved by the Board of Directors on the recommendation of the Nomination and Remuneration Committee, underscoring the company’s intent to strengthen its governance framework with seasoned leadership from the financial services sector.
Sunil Kumar Chugh brings more than three decades of banking experience to the boardroom. A Chartered Accountant and a Certified Associate of the Indian Institute of Bankers, Chugh began his career in 1993 and has held senior roles across several public sector banks, including Punjab National Bank, Oriental Bank of Commerce, Union Bank of India, Punjab & Sind Bank, and Dena Bank. His leadership portfolio spans Corporate Credit, Retail, Agriculture & MSME Credit, Financial Inclusion, Stressed Assets Management, and Credit Monitoring, with stints heading Large Corporate Branches in Mumbai, Kolkata, and Ahmedabad. He has also served on the boards of PNB Cards & Services Pvt. Ltd. and Swift India Domestic Services Pvt. Ltd.
Prior to taking on the upcoming governance role, Chugh served as Executive Director of Canara Bank and headed the Hyderabad Zone of Punjab National Bank, bringing a depth of strategic oversight and operational experience across both corporate and consumer banking. Notably, the announcement also confirms no disqualifications from regulatory authorities, aligning with Canara HSBC Life’s emphasis on robust governance as it broadens its leadership bench. As the insurer navigates a dynamic financial landscape, the addition of a veteran banker with extensive risk management and business-operations exposure is positioned to contribute to strategic oversight and value creation for policyholders and stakeholders alike.