Performance Overview (H1 FY27)

Canara HSBC Life Insurance Company Limited reported a resilient half‑year ending 30 September 2026, with Individual Weighted Premium Income (WPI) of ₹1,117 crore, reflecting a 14.5% year‑on‑year (YoY) increase. New Business Premium (individual + group) rose to ₹1,984 crore, up 16.1% YoY. Total Annualised Premium Equivalent (APE) reached ₹1,250 crore, a 14.4% rise, while Total Premium (including renewal and single premiums) grew 17.3% to ₹4,742 crore.

The Value of New Business (VNB) expanded to ₹266 crore, a 24% YoY gain, delivering a VNB margin of 21.3%. Protection business performance was strong, with Protection APE climbing 44% to ₹131 crore, accounting for 10.5% of total APE. Credit Life premium continued its upward trajectory, posting a 35% YoY increase.

Assets Under Management (AUM) stood at ₹50,200 crore, up 13.9% YoY. The company’s Embedded Value (EV) reached ₹7,622 crore as of 30 September 2026, and the operating return on EV (RoEV) was 19.8% on a rolling 12‑month basis. Profit After Tax (PAT) improved 10.8% to ₹71.2 crore.

Persistency ratios showed modest improvement, with the 13‑month persistency at 85.6% (vs 84.4% prior) and the 61‑month persistency at 54.6% (vs 55.5% prior). The Solvency Ratio declined to 180% from 198%, while the expense ratio rose to 20.5% from 19.0%.

Product Mix (APE Basis)

The APE composition was ULIP 41%, Non‑Par Savings 24.6%, Par 9.9%, Annuity 13.7%, and Protection 10.5%.

Management Commentary

MD & CEO Anuj Mathur highlighted that traditional segment demand remained resilient, enabling healthy growth and stronger business quality. He noted the 44% growth in the protection portfolio and the continued momentum in credit life and annuity streams. Mathur welcomed proposed regulatory reforms as positive for transparency and sector sustainability, and reaffirmed commitment to leveraging the company’s distribution franchise.

Strategic Initiatives

During the period the insurer launched Promise2Secure, a flexible protection product aimed at evolving family needs. The company was also recognised among India’s Best Workplaces for Women 2026 – Top 50 by Great Place To Work® India.

Shareholder Structure & Operations

Canara HSBC Life is a joint venture promoted by Canara Bank (36.5%), HSBC Insurance (Asia Pacific) Holdings Limited (25.5%), and Punjab National Bank (13%). The insurer operates from its corporate office in Gurugram, Haryana, with 107 branch offices across India as of 30 September 2026, serving customers through bancassurance partners and digital channels.

Definitions (selected)

  • Weighted Premium Income (WPI): sum of individual non‑single new business premium plus 10 % of individual single new business premium.
  • Annualised Premium Equivalent (APE): annualised first‑year premiums of regular policies plus 10 % of single premiums.
  • Embedded Value (EV): Adjusted Net Worth plus present value of future profits from in‑force policies.
  • Operating RoEV: annualised ratio of embedded value operating profit to beginning‑period EV.