Canara HSBC Life Insurance Company Limited has announced robust financial performance for the nine months ended December 31, 2025 (9M FY26), as approved by its Board of Directors. In its first year as a listed entity, the insurer sustained strong growth momentum across profitability, premium income, and customer retention metrics, supported by a sharp rise in protection business and disciplined execution across channels.
The company reported an individual weighted premium income of Rs 1,915.3 crore, registering a year-on-year growth of 20.5 per cent. Total annualised premium equivalent (APE) grew 22.3% year-on-year to Rs 2,095 crore, while total premium income rose 31.6 per cent to Rs 6,931.4 crore. Assets under management increased 17.2 per cent to Rs 46,888.8 crore during the period.
Value of New Business (VNB) stood at Rs 412.9 crore, marking a strong 36.8 per cent year-on-year growth, with the new business margin improving to 19.7 per cent from 17.6 per cent a year earlier. Profit after tax for the nine-month period grew 8.2 per cent year-on-year to Rs 91.9 crore, while embedded value reached Rs 6,867.8 crore, supported by an operating return on embedded value (RoEV) of 18.2 per cent on a rolling 12-month basis.
A key highlight of the period was the sharp acceleration in the protection segment, which grew 126 per cent year-on-year. The growth was driven by higher demand for protection products, aided by GST-led affordability benefits and expansion in credit life insurance. Individual protection business recorded a threefold quarter-on-quarter increase, while credit life grew 48 per cent year-on-year.
Customer retention metrics also improved, with 13-month persistency rising to 85.6 per cent from 83.4 per cent and 61-month persistency improving to 59.2 per cent from 57.5 per cent, reflecting stronger customer engagement and servicing discipline.
Commenting on the performance, Anuj Mathur, MD & CEO, Canara HSBC Life Insurance, said the quarter reflected a strengthening of business momentum, supported by sustained growth across key metrics and accelerated protection-led expansion. He highlighted that recent GST reforms and policy initiatives such as the Sabka Bima, Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 are creating practical enablers for wider insurance adoption and sectoral growth.
During the quarter, the company continued to enhance its product and distribution capabilities. It launched Promise4Life, a participating non-linked savings plan offering guaranteed income with features such as a savings wallet and premium offset. On the distribution front, Canara HSBC Life entered into a bancassurance partnership with Equitas Small Finance Bank, extending its reach across 994 outlets in 18 states and Union Territories, with a strong presence in South and West India.
Looking ahead, the insurer said it remains focused on sustainable growth, deeper partnerships, sharper product innovation, and enhanced customer experience as it seeks to expand protection coverage and strengthen its position in India’s evolving life insurance market.
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