Canara HSBC Life Insurance Company (CANHLIFE) Q4 25/26 earnings summary

Executive summary

• FY26 gross premium reached ₹100,456 Mn, up 25%; individual WPI rose 19%, VNB increased 41% to ₹6,273 Mn, and operating RoEV was 20.7%.

• FY26 milestones included the October 2025 listing, agency launch and strong business performance.

• Strategic priorities include profitable growth, balanced product mix, distribution expansion, customer centricity, risk prudence and AI/data-enabled gains.

Financial highlights

• Individual WPI was ₹25,930 Mn, up 19%; total APE was ₹27,987 Mn, up 20%, and renewal premium reached ₹61,287 Mn, up 25%.

• VNB rose 41% to ₹6,273 Mn; margin increased to 22.4% from 19.1%, partly offset by GST and labor-code impacts.

• Gross premium rose 25% to ₹100,456 Mn; net premium income reached ₹984,098 lakh, up from ₹785,024 lakh.

• PAT increased 8% to ₹1,266 Mn; growth was 82% excluding GST and labor-code impacts.

• Embedded value rose 18% to ₹72,333 Mn; AUM was ₹461 Bn, up 12%.

Outlook and guidance

• FY27 VNB margin guidance is 22%–23%; GST’s full-year impact and agency growth investment are offsets.

• No top-line target was set amid geopolitical uncertainty; expected growth remains above industry, with further guidance dependent on greater clarity.

• Long-term product mix target is ~50% ULIP and ~50% traditional, assessed over a full year.

• Agency contribution target is ~5% within three years; alternate channels target 15% of WPI over three years.