Performance Highlights (Q1 FY27)

The company reported strong growth across key business and profitability metrics for the quarter ended June 30, 2026:

Key Growth Metrics:

  • Individual Weighted Premium Income (WPI): ₹470 crore, with 17.8% Year-on-Year (YoY) growth
  • New Business Premium Income: ₹1,044 crore, with 25.2% YoY growth
  • Total APE: ₹585 crore, with 18.8% YoY growth
  • Value of New Business (VNB): ₹124 crore, with 28.8% YoY growth
  • Total Premium Income: ₹2,161 crore, with 23.7% YoY growth
  • Assets Under Management (AUM): ₹49,683 crore, with 13.8% YoY growth
  • Profit After Tax (PAT): ₹28 crore, with 20.2% YoY growth

Product Mix (on APE basis):

  • ULIP: 36%
  • Non-Par Savings: 26%
  • Par: 10%
  • Non-Par Protection: 13%
  • Annuity: 14%

Protection Business Performance:

Protection business grew 41.5% year-on-year, with share of protection increasing to 13% of total APE. Credit Life also showed strong growth, registering 40.7% YoY advancement.

Persistency Ratios:

  • 13th month: 85.9%
  • 61st month: 55.3%

Embedded Value and Profitability:

  • Embedded Value (EV): ₹7,383 crore
  • Operating Return on EV (Operating RoEV): 19.7% (on a rolling 12-month basis)
  • New Business Margin: 21.1%

Strategic Developments

The company expanded its distribution footprint through strategic partnerships, including a collaboration with West Bengal Gramin Bank. It continued to strengthen customer proposition through solutions tailored to evolving protection, savings and retirement needs, while deepening distribution capabilities across channels.

Management Commentary

Anuj Mathur, MD & CEO, stated that the focus on profitable growth continued to deliver results in Q1, supported by strong distribution network and product mix improvements. The distribution-led strategy continued to gain traction, reflected in a 19% YoY increase in the number of policies issued. The company remains committed to delivering sustainable growth and creating long-term value in India's growing life insurance market.

Financial Metrics Comparison

| Metric | Q1 FY27 | Q1 FY26 | Growth |

| Total APE (₹ crore) | 585 | 493 | 18.80% |

| New Business Premium (₹ crore) | 1,044 | 833 | 25.20% |

| Renewal Premium (₹ crore) | 1,117 | 914 | 22.30% |

| Total Premium (₹ crore) | 2,161 | 1,747 | 23.70% |

| Assets Under Management (₹ crore) | 49,683 | 43,640 | 13.80% |

| Profit After Tax (₹ crore) | 28 | 23 | 20.20% |

| Value of New Business (₹ crore) | 124 | 96 | 28.80% |

Company Background

Canara HSBC Life Insurance Company Limited is a joint venture promoted by Canara Bank (36.5%) and HSBC Insurance (Asia Pacific) Holdings Limited (25.5%). Punjab National Bank holds 13% as an investor. The company has its corporate office at Gurugram, Haryana and 107 branch offices as of June 30, 2026, pan India. It operates as a bancassurance-led insurance company with products distributed through Canara Bank, HSBC Bank and other bancassurance partners.