Protection sales accelerated 44% year-on-year whilst the insurer maintained a 21.3% new business margin.
Canara HSBC Life Insurance Company reported a 10.8% year-on-year increase in profit after tax to $7.4m (INR71.2 crore) for the six months ended 30 September 2026, as new business premiums and protection sales grew.
The Indian insurer’s total premium income rose 17.3% year-on-year to $495.8m (INR4,742 crore) in the first half of fiscal year 2027 (H1 FY27).
New business premium income increased 16.1% to $207.4m (INR1,984 crore).
Individual weighted premium income grew 14.5% to $116.8m (INR1,117 crore), whilst annualised premium equivalent (APE), a measure of new business sales, rose 14.4% to $130.7m (INR1,250 crore).
Value of new business (VNB), which measures the expected profit from new policies, increased 24% to $27.8m (INR266 crore). The VNB margin stood at 21.3%.
Protection APE grew 44% year-on-year to $13.7m (INR131 crore), accounting for 10.5% of total APE.
Managing director and chief executive officer Anuj Mathur said demand in traditional insurance segments remained resilient during the period, supporting growth and improvements in business quality.
He said the company’s protection portfolio gained traction, whilst renewal collections and persistency remained strong.
Its 13th-month persistency ratio stood at 85.6%, whilst the 61st-month ratio was 54.6%.
($1.00 = INR95.65)