Canara HSBC Life Insurance Q1FY27 PAT rises 20.2%

Canara HSBC Life Insurance Company reported a Profit After Tax (PAT) of ₹28 crore for the quarter ended June 30, 2026, reflecting a year-on-year increase of 20.2%. The insurer's Value of New Business (VNB) stood at ₹124 crore, growing 28.8% year-on-year, with a VNB margin of 21.1%. The Board of Directors approved the unaudited financial results on July 20, 2026.

Financial Performance

The company achieved an Annualized Premium Equivalent (APE) of ₹585 crore, registering an 18.8% year-on-year growth. Total Premium Income reached ₹2,161 crore, up 23.7% from the same period last year. New Business Premium stood at ₹1,044 crore, a 25.2% increase, driven by a 41.5% rise in protection business. Assets Under Management (AUM) grew 13.8% to ₹49,683 crore.

The following table summarises the key financial metrics for the quarter:

Metric	Q1 FY27	Q1 FY26	YoY Growth
Profit After Tax (₹ crore)	28	23	20.20%
Total APE (₹ crore)	585	493	18.80%
New Business Premium (₹ crore)	1,044	833	25.20%
Total Premium (₹ crore)	2,161	1,747	23.70%
Value of New Business (₹ crore)	124	96	28.80%
VNB Margin	21.10%	—	—
Solvency Ratio	198%	200%	—
Expense Ratio	20.70%	19.60%	—

Operational Metrics

Individual Weighted Premium Income (WPI) was recorded at ₹470 crore, with a year-on-year growth of 17.8%. The product mix on an APE basis comprised ULIP at 36%, Non-Par Savings at 26%, Annuity at 14%, Par at 10%, and Non-Par Protection at 13%. The persistency ratios were reported at 85.9% for the 13th month and 55.3% for the 61st month.

Key Ratios

The Solvency Ratio for the quarter stood at 198%, compared to 200% in Q1 FY26. The Expense Ratio increased to 20.7% from 19.6% in the corresponding period of the previous year. Embedded Value (EV) was reported at ₹7,383 crore, with an operating return on EV (RoEV) of 19.7% on a rolling 12-month basis.

Management Guidance

Management remains constructive on the outlook for the life insurance industry and expects to leverage available opportunities. Key guidance points shared during the concall are summarised below:

Guidance Area	Details
Expense Ratio	Expected to improve and decline as the year progresses
Agency Channel — Margin Impact	200 basis point drag on margins for the next two years
Agency Channel — APE Contribution	Projected to contribute around 5% of total APE in the next three years
Alternate Channels (incl. Agency)	Expected to reach 15% to 20% contribution
ULIP Mix	Expected to range between 45% to 50% for the full financial year
Annuity Business	Expected to grow back to its previous level
Growth Trajectory	Management will continue to target a similar growth trajectory as Q1

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.75%	-1.22%	+0.96%	-1.91%	+33.47%	+33.47%

Canara HSBC Life Insurance Company Ltd's board has recommended the re-appointment of Santanu Kumar Majumdar and Amitabh Nevatia as non-executive directors. The directors, who are liable to retire by rotation at the ensuing 19th Annual General Meeting, have been proposed for re-appointment in accordance with Section 152(6) of the Companies Act, 2013. The recommendation was made during a board meeting held on June 16, 2026.

The re-appointments are subject to the approval of the company's members at the annual general meeting. Both directors are eligible for re-appointment and are not debarred from holding the office of director by virtue of any SEBI Order or any other authority. The disclosures were made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Directors

The table below outlines the particulars regarding the re-appointment of the two directors:

Sr. No.	Particulars	Mr. Santanu Kumar Majumdar (DIN: 08223415)	Mr. Amitabh Nevatia (DIN: 10891350)
1.	Reason for Change	Re-appointment of director as are liable to retire by rotation.	Re-appointment of director as are liable to retire by rotation.
2.	Date of board approval	June 16, 2026 (subject to the approval of members at their annual general meeting)	June 16, 2026 (subject to the approval of members at their annual general meeting)
3.	Brief profile	Not Applicable	Not Applicable
4.	Disclosure of relationships	Not Applicable	Not Applicable
5.	Regulatory compliance	Not debarred from holding the office of Director by virtue of any SEBI Order or any other such authority.	Not debarred from holding the office of Director by virtue of any SEBI Order or any other such authority.

The intimation was submitted to the National Stock Exchange of India Limited and BSE Limited by Vatsala Sameer, Company Secretary and Compliance Officer.