Anuj Mathur, Managing Director & Chief Executive Officer, Canara HSBC Life Insurance Company Limited, speaks during a press conference.
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ANI
Private sector insurer Canara HSBC Life Insurance on Wednesday reported a 5.69 per cent year-on-year (y-o-y) decline in net profit to ₹27.65 crore for the third quarter this fiscal, even as its net premium income grew more than 40 per cent y-o-y.
The insurance company had posted a net profit of ₹29.32 crore for the third quarter of last fiscal. Its profit before tax witnessed a growth of 9.83 per cent y-o-y at ₹30.84 crore in the third quarter of FY26 compared with ₹28.08 crore in the corresponding period of FY25.
Net premium income during the period under review rose 42.98 per cent y-o-y to ₹2,867.16 crore compared to ₹2,005.32 crore in Q3 FY25, according to a stock exchange filing. The first-year premium rose 28.09 per cent to ₹938.01 crore, whereas renewal premium increased 43.07 per cent to ₹1,668.39 crore for the third quarter.
The company said 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.
Persistency ratio for the 13th month rose to 84.7 per cent for Q3 FY26 from 78 per cent for Q3 FY25, whereas the 61st month persistency ratio improved to 57 per cent from 53.8 per cent.
Expenses of management (EoM) ratio fell 90 basis points at 18.3 per cent from 19.2 per cent in the year-ago period. Solvency ratio stood at 191 per cent compared with 215 per cent in Q3 FY25.
For the nine-month period of this financial year (9MFY26), the insurer’s Annualised Premium Equivalent (APE) and Value of New Business (VNB) rose 22.3 per cent and 36.8 per cent at ₹2,095 crore and ₹412.9 crore, respectively. VMB margin increased 210 basis points to 19.7 per cent as on December, 2025 from 17.6 per cent in the year-ago period.
Anuj Mathur, MD & CEO, Canara HSBC Life Insurance, said, “The quarter gone by (Q3) 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.”
Published on January 21, 2026
