Canara HSBC Life Insurance Company Limited Earnings Summary — Q4 FY2026

• Value of New Business (VNB) grew significantly by 41% YoY to INR 6,273 Mn for the full fiscal year.
• VNB Margin expanded from 19.1% in FY25 to 22.4% in FY26, driven by an improved product mix favoring protection.
• Total Assets Under Management (AUM) reached INR 461 Bn, representing a 12% growth over the previous year.
• The 13th Month Persistency ratio improved to 86.3% from 84.4% in the prior year.
• Newly launched Agency channel (Oct 2025) is scaling as per plan with its first MDRT qualification achieved in Dec 2025.
• Individual Weighted Premium Income (WPI) grew 19% YoY, outperforming the private industry growth rate.
• Solvency ratio remains healthy and well above regulatory requirements at 19,000+ branch touchpoints combined.
• Overall Claim Settlement Ratio stood high at 99.6% for FY2026.

Management remains focused on a 'Hybrid Agency' model and accelerating AI/Data analytics to drive revenue and service improvements. The strategy emphasizes profitable growth through a balanced product mix and operational efficiency.

Improving

The company demonstrated substantial improvement in VNB margins and a significant rebound in PAT (up 82% YoY excluding specific adjustments), coupled with robust APE growth.

The outlook remains positive with a focus on penetrating Tier 3 and 4 markets via Canara Bank's network and targeting the affluent/NRI segment through HSBC. The scaling of the new Agency channel is expected to provide further diversification.