The insurer has also reviewed 365 additional complaints across Prudential Life and Gibraltar Life since January, with 125 cases qualifying for reimbursement.
The institute said insurers need better data access, stronger overseas risk controls and reforms to subsidiary rules as domestic market pressures intensify.
A larger contribution from non-par savings products, combined with strong protection growth, helped Canara HSBC Life deliver stronger profitability in Q1 FY2027.
He takes up the post on 1 September, leading the rollout of AI initiatives across the region and building the data platforms and governance needed to support their adoption.
