Canara'HSBC'Life'Insurance'soars'on'steady'Q4'and'robust'full-year'performance
Profit'before'tax'came'in'at'Rs'38.61'crore,'up'10.22%'YoY'and'25.19%'QoQ.'Profit'after'tax'rose'8.23%'YoY'to'Rs'34.73'crore,'while'jumping'25.61%'sequentially.
That'said,'employee'expenses'surged'20.01%'YoY'and'30.60%'QoQ'to'Rs'234.3'crore,'suggesting'continued'investments'in'distribution'and'expansion.
For'FY26,'individual'weighted'premium'income'stood'at'Rs'2,593'crore,'rising'19%'YoY,'outpacing'both'industry'and'private'sector'peers.'Total'APE'grew'20%'YoY'to'Rs'2,799'crore,'while'new'business'premium'rose'25%'to'Rs'3,917'crore.
Total'premium'income'climbed'sharply'to'Rs'10,046'crore'(up'25%'YoY),'while'renewal'premium'increased'to'Rs'6,129'crore'(up'25%'YoY),'reflecting'a'strengthening'customer'base.
On'the'profitability'front,'value'of'new'business'jumped'41%'YoY'to'Rs'627'crore,'with'VNB'margin'expanding'to'22.4%'from'19.1%.'Net'profit'for'FY26'stood'at'Rs'127'crore,'up'8%'YoY.
Assets'under'management'rose'12%'YoY'to'Rs'46,118'crore,'while'embedded'value'reached'Rs'7,233'crore'with'an'operating'RoEV'of'20.7%,'highlighting'improving'franchise'value.
Operationally,'persistency'ratios'improved,'with'the'13-month'ratio'at'86.3%'and'61-month'ratio'at'55.4%.'The'solvency'ratio'stood'at'a'comfortable'190%,'indicating'a'strong'capital'position.
The'company'also'saw'traction'in'distribution,'onboarding'500'new'distributors'during'the'year,'while'policy'count'grew'7%'YoY'to'over'2.08'lakh.
Its'product'mix'remained'diversified,'led'by'ULIPs'at'51%,'followed'by'non-par'savings'19%,'non-par'protection'7%,'par'8%,'annuity'14%'and'fund-based'business'1%.'
Canara'HSBC'Life'Insurance'Company'is'a'joint'venture'promoted'by'Canara'Bank'(36.5%)'and'HSBC'Insurance'(Asia'Pacific)'Holdings'(25.5%).'As'a'bancassurance-led'insurance'company'with'its'corporate'office'at'Gurugram,'Haryana'and'107'branch'offices'as'of'31'March'2026,'pan'India,'Canara'HSBC'Life'brings'together'the'trust'and'market'knowledge'of'public'and'private'banks.
