Canara HSBC Life Insurance Delivers Robust 9M FY26 Results

PERFORMANCE FOR THE QUARTER ENDED DECEMBER 31, 2025 • Individual weighted premium income of ₹ 1,915.3 crore with a year-on-year growth of 20.5% • Value of New Business (VNB) stood at ₹ 412.9 crore with a year-on-year growth of 36.8% and new business margin of 19.7% • Protection business grew at 126% year-on-year, driven by stronger demand backed by GST- led affordability tailwinds and growth in credit life business • 13-Month Persistency at 85.6% marks an uplift, reflecting disciplined customer engagement NEW DELHI, Jan. 22, 2026 /PRNewswire/ -- The Board of Directors of Canara HSBC Life Insurance Company Limited (BSE: 544583) (NSE: CANHLIFE) approved and adopted the unaudited financial results for the 9M ended December 31, 2025. Canara HSBC Life Insurance Logo The Company continued to deliver solid performance across key financial and operating metrics during the third quarter of FY26, sustaining growth momentum in its first year as a listed entity. Performance during the quarter was supported by a robust growth in the protection business, continued improvement in persistency metrics, product diversification, and focused initiatives to deepen customer reach through strategic partnerships. Performance Highlights (9M FY26) • Individual Weighted Premium Income (WPI): ₹1,915.3 crore, with 20.5% Year-on-Year (YoY) growth • Total APE: ₹2,095 crore, with 22.3% YoY growth • Value of New Business (VNB): ₹412.9 crore, with 36.8% YoY growth • Total Premium Income: ₹6,931.4 crore, with 31.6% YoY growth • Assets Under Management (AUM): ₹46,888.8 crore, with 17.2% YoY growth • Embedded Value (EV): ₹6,867.8 crore, with operating RoEV of 18.2% (on rolling 12 months basis) • Profit After Tax (PAT): ₹91.9 crore, with 8.2% YoY growth • Persistency Ratios: 13th month at 85.6%, 61st month at 59.2% • Product Mix (on APE basis): ULIP 61%, Non-Par Savings 13%, Non-Par Protection 7%, Par 5%, and Annuity 12% • Total Protection: Up by 126% YoY (Credit Life Up 48% YoY; Individual Protection Up 3X QoQ) MD & CEO's Statement Anuj Mathur, MD & CEO, Canara HSBC Life Insurance, said: "The quarter gone by represents significant strengthening of our business momentum, underpinned by sustained growth across key performance metrics including stronger persistency and accelerated protection-led growth supported by the recent GST reforms introduced by the Government of India. As we build scale, our focus remains on further expanding protection coverage pan India through a more diversified channel mix, sharper product proposition and deeper engagement in India's growth markets. "It is encouraging to see policy intent further translating into practical enablers for adoption. The growth momentum has been reinforced by the Sabka Bima, Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, which seeks to deepen coverage and build a more enabling ecosystem by allowing up to 100% FDI to boost capital, capability and competition in the sector. "Looking ahead, we will stay anchored to delivering sustainable growth, strengthening partnerships, accelerating product innovation, and building capabilities that improve customer experience and outcomes, so we can serve families better as they prepare for uncertainties of Life." During the quarter, the Company continued to sharpen its customer proposition through product innovation and partnership-led reach. It launched Promise4Life, a participating, non-linked savings plan that combines guaranteed income, supported by practical features such as a Savings Wallet and Premium Offset for added flexibility. On the distribution front, Canara HSBC Life entered into a bancassurance partnership with Equitas Small Finance Bank, enabling wider access to its product suite across 994 outlets in 18 states and UTs, with a strong footprint in South and West India—furthering the shared agenda of insurance inclusion. Financial Metrics ₹ Crore 9M FY26 9M FY25 YoY Growth Individual WPI 1,915.3 1,590 20.5 % Total APE 2,095 1,713.3 22.3 % New Business Premium (Individual + Group) 2,929.4 2,287.2 28.1 % Renewal Premium (Individual + Group) 4,001.9 2,978.3 34.4 % Total Premium 6,931.4 5,265.5 31.6 % Assets Under Management (AUM) 46,888.7 40012.7 17.2 % Profit After Tax (PAT) 91.9 84.9 8.2 % Value of New Business (VNB) 412.9 301.9 36.8 % VNB Margin 19.7 % 17.6 % 2.1 % Other Key Ratios Metric 9M FY26 9M FY25 Expense Ratio (Total Expenses / Total Premium) 18.70 % 20 % Solvency Ratio 191 % 209 % 13-Month Persistency* 85.60 % 83.4 % 61-Month Persistency* 59.20 % 57.5 % * Persistency ratios as on December 31 for the policies issued during Dec to Nov period of the relevant years. Definitions and abbreviations • Individual weighted premium income ("WPI"): Individual WPI is defi