Canara HSBC Life Insurance Company Limited announced its financial results for the half-year ended September 30, 2026 (H1 FY27), demonstrating strong operational growth driven by traditional products, protection plans, and credit life segments.
Financial Highlights (H1 FY27 vs. H1 FY26)
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Value of New Business (VNB): Stood at ₹266 crore, marking a 24.0% YoY growth with a strong VNB margin of 21.3%.
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New Business Premium Income: Rose 16.1% YoY to ₹1,984 crore (up from ₹1,709 crore).
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Total Premium Income: Reached ₹4,742 crore, reflecting a 17.3% YoY growth.
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Individual Weighted Premium Income (WPI): Recorded ₹1,117 crore, up 14.5% YoY.
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Total Annualized Premium Equivalent (APE): Stood at ₹1,250 crore, growing 14.4% YoY.
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Profit After Tax (PAT): Increased by 10.8% YoY to ₹71.2 crore.
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Assets Under Management (AUM): Reached ₹50,200 crore, a 13.9% YoY expansion.
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Embedded Value (EV): Stood at ₹7,622 crore with a 12-month rolling Operating RoEV of 19.8%.
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Solvency Ratio: Stood comfortably at 180% (against regulatory requirements).
Product Segment Performance & Portfolio Mix
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Protection Business Growth: Individual protection APE surged 44% YoY to ₹131 crore, increasing its share in the total APE mix to 10.5%. Growth was aided by new offerings like the Promise2Secure protection plan.
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Credit Life Trajectory: Maintained strong expansion with a 35% YoY growth rate.
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Product Mix by APE:
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Unit-Linked Insurance Plans (ULIP): 41.0% (down from 50% in H1 FY26)
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Non-Participating Savings: 24.6% (up from 17%)
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Annuity: 13.7%
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Non-Participating Protection: 10.5% (up from 8%)
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Participating (Par) Savings: 9.9% (up from 8%)
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Persistency Ratios: 13th-month persistency improved to 85.6% (vs. 84.4% in H1 FY26), while 61st-month persistency stood at 54.6%.
Management Commentary
Anuj Mathur, MD & CEO of Canara HSBC Life Insurance, noted that resilience in traditional savings and protection segments drove the company’s 24% VNB growth. He added that the company views ongoing regulatory distribution reforms as positive steps toward improving long-term industry sustainability, customer outcomes, and operational transparency.
