Canara HSBC Life Insurance has appointed Indu Swaroop as chief financial officer (CFO), effective 25 November 2026, replacing Tarun Rustagi, who resigned from the position, the insurer announced on Thursday.
Swaroop currently serves as the insurer’s financial controller, overseeing statutory audits, tax compliance and other financial operations.
He joined Canara HSBC Life Insurance in 2008 and is among the company’s founding members. During his tenure, he has held several senior positions, including head of treasury and banking operations. He was also part of the core team that led the insurer’s public listing last year.
Swaroop brings more than 26 years of experience in finance, including a previous stint at Aviva Life Insurance.
His appointment was approved by the board at a meeting on Thursday, following recommendations from the nomination and remuneration committee and the audit committee, according to an exchange filing.
The company also designated him as key managerial personnel and senior management personnel.
The appointment comes as Canara HSBC Life Insurance continues to expand its business. The insurer reported a 24% year-on-year increase in value of new business (VNB) to ₹2.66bn (US$28.3m) in the first half of 2026, supported by growth in its protection business and demand for traditional products.
