Canara HSBC Life Insurance Company Ltd
Media Release - Audited Financial Results for the quarter and financial year ended 31st March 2026
RESULTS
▲ Positive Development
LOW RISK
📅 Filed on BSE: 28 Apr 2026, 06:43 PM IST · BSE ID: f8206197-80fd-4b84-b83f-ed3687385f4e
View Original BSE Filing (PDF)
💡
In Simple Terms
Canara HSBC Life Insurance reported full-year results showing premium and profit growth, with new business value jumping 41% and claims settled at near-perfect 99.6% rate.
🤖 AI Summary
- Individual WPI ₹2,593 Crore, 19% YoY growth; outperformed top 10 life insurers on growth rate
- Total Premium Income ₹10,046 Crore, 25% YoY growth; Total APE ₹2,799 Crore, 20% YoY growth
- Value of New Business ₹627 Crore, 41% YoY growth; VNB Margin 22.4%, improved from 19.1% prior year
- Profit After Tax ₹127 Crore, 8% YoY growth; AUM ₹46,118 Crore, 12% YoY growth; Solvency Ratio 190%
- Protection business 115% YoY growth; claims settlement ratio 99.6%; 13-month persistency 86.3%; advanced to 9th rank among private insurers
🔢 Key Numbers — exact figures from BSE filing, not rounded
Individual Weighted Premium Income (WPI)
₹2,593 Crore
19%
Total Premium Income
₹10,046 Crore
25%
Value of New Business (VNB)
₹627 Crore
41%
VNB Margin
22.4%
3.3 percentage points
Total APE
₹2,799 Crore
20%
Profit After Tax (PAT)
₹127 Crore
8%
Assets Under Management (AUM)
₹46,118 Crore
12%
Embedded Value (EV)
₹7,233 Crore
Operating Return on EV (RoEV)
20.7%
13-Month Persistency Ratio
86.3%
1.9 percentage points
61-Month Persistency Ratio
55.4%
0.3 percentage points
Claims Settlement Ratio
99.6%
Number of Policies (NOPs)
2,08,222
7%
Protection Business Growth
115%
115%
Expense Ratio
18.7%
0 percentage points
🏢 How This Affects the Company
Individual WPI growth of 19% outpaced industry peers, advancing company to 9th rank among private insurers by WPI premium. Protection business segment surged 115% year-on-year, diversifying revenue mix beyond traditional savings products. Agency channel onboarded 500 distributors with APE of ₹14 Crore, establishing new distribution growth avenue beyond core bancassurance model.
Total Premium Income of ₹10,046 Crore represents 25% year-on-year growth, while Profit After Tax of ₹127 Crore grew 8% year-on-year. Assets Under Management reached ₹46,118 Crore with 12% growth. VNB margin expanded to 22.4% from 19.1% prior year, indicating improved profitability of new business written. Solvency Ratio of 190% remains well above regulatory minimums.
13-month persistency improved to 86.3% from 84.4%, reflecting stronger policy retention and customer engagement. Number of Policies grew 7% year-on-year to 2,08,222. Claims settlement ratio reached 99.6%, demonstrating operational excellence in underwriting and claims processing. Branch network expanded to 107 locations pan-India as of March 31, 2026.
Solvency ratio declined from 206% in FY25 to 190% in FY26, though remaining well above regulatory minimum. Expense ratio remained flat at 18.7%, indicating no margin pressure from operational costs. 61-month persistency at 55.4% reflects stable retention in longer-term policies.
👥 What This Means For Shareholders
✅
Action Required
No action required. Review annual report for full financial statements and dividend announcement details once posted on company website.
👤
Who Is Affected
All equity shareholders of Canara HSBC Life Insurance Company Limited. Profit After Tax of ₹127 Crore (8% YoY growth) directly impacts earnings available for dividend distribution. Embedded Value of ₹7,233 Crore with Operating RoEV of 20.7% indicates shareholder value creation.
🔍
Management Signal
Management prioritizing balanced growth with discipline, investing in protection segment expansion (115% YoY growth) and agency distribution diversification (500 distributors onboarded) while maintaining strong operational metrics including 99.6% claims settlement.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q1 FY27 results — verify if Individual WPI growth sustains above 15% and VNB margin remains above 20%
Dividend announcement and record date — check for cash distribution to shareholders from FY26 profits
Annual Report filing — confirm details of agency channel scaling and branch network expansion progress
LOW RISK
Solvency ratio of 190% provides comfortable regulatory buffer. Claims settlement at 99.6% and improved persistency indicate strong operational controls. Flat expense ratio shows cost discipline.
💡 Investor Takeaway
FY26 audited results show Individual WPI of ₹2,593 Crore (19% YoY growth), Total Premium Income of ₹10,046 Crore (25% YoY growth), and Value of New Business of ₹627 Crore (41% YoY growth) with VNB Margin of 22.4%. Profit After Tax grew 8% to ₹127 Crore. Company ranks 9th among private insurers by WPI and maintains 190% solvency ratio with 99.6% claims settlement ratio.
⚖️ Strengths & Concerns
✅ Positives
- Individual WPI growth of 19% outperforms top 10 private insurers; Value of New Business margin expanded 340 basis points to 22.4%
- Claims settlement ratio at 99.6% demonstrates operational excellence; 13-month persistency improved to 86.3% from 84.4% prior year
⚠️ Concerns
- Profit After Tax growth of 8% significantly lags Total Premium growth of 25%, indicating earnings not scaling proportionally with topline expansion
- Solvency Ratio declined 16 percentage points to 190% from 206%, reducing capital buffer despite remaining above regulatory requirement
📅 Company Track Record
Canara HSBC Life Insurance listed on Indian stock exchanges in October 2025. FY26 results represent first full-year audited financials post-listing. Company incorporated in 2007 as joint venture between Canara Bank (36.5%) and HSBC Insurance (Asia Pacific) Holdings Limited (25.5%). For fifth consecutive year certified as Great Place to Work by Great Place to Work Institute.
Based on publicly available historical data. For context only.