Canara HSBC Life Insurance Q3 net profit falls 5.7%, net premium income rises 42.9%

Anuj Mathur, Managing Director & Chief Executive Officer, Canara HSBC Life Insurance Company Limited, speaks during a press conference.
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ANI

Canara HSBC Life Insurance reported a 5.69% decline in net profit to ₹27.65 crore for Q3 FY26, despite a robust increase in net premium income. The private insurer’s net profit stood at ₹29.32 crore during the same quarter last fiscal.

Pre-tax profit rose 9.83% year-on-year to ₹30.84 crore, compared to ₹28.08 crore in Q3 FY25. Net premium income surged 42.98% to ₹2,867.16 crore, up from ₹2,005.32 crore in the year-ago period.

First-year premiums grew 28.09% to ₹938.01 crore, while renewal premiums climbed 43.07% to ₹1,668.39 crore. The company attributed its performance to growth in the protection segment, improved persistency ratios, diversified product offerings, and expanded distribution partnerships.

Persistency ratios showed notable improvement: the 13th-month ratio increased to 84.7% (from 78% in Q3 FY25) and the 61st-month ratio rose to 57% (from 53.8%). Management expense ratio declined to 18.3% from 19.2%, while solvency ratio stood at 191% against 215% in the previous year’s comparable quarter.

For the nine-month period ending December 2025, Annualised Premium Equivalent (APE) rose 22.3% to ₹2,095 crore. Value of New Business (VNB) grew 36.8% to ₹412.9 crore, driving VNB margin expansion to 19.7% – a 210 basis-point improvement from 17.6% in 9M FY25.

MD & CEO Anuj Mathur stated, “Our Q3 performance reflects strengthened business momentum, marked by higher persistency and accelerated protection business growth. Recent GST reforms by the Government of India have further supported this trajectory.”

Published on January 21, 2026