The insurer has also reviewed 365 additional complaints across Prudential Life and Gibraltar Life since January, with 125 cases qualifying for reimbursement.
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.
More than 80% of insurers have already met OJK's 2026 requirements, but experts say capital alone will not fix weak fundamentals as tougher 2028 rules loom.
Bank is considering raising its holding in the life insurer to 30%, after RBI rule changes opened the door for larger bank investments in insurance companies.
