Canara HSBC Life Insurance Q1 profit rises 20% to Rs 28 cr

Canara HSBC Life Insurance Company on Monday reported 20 per cent increase in net profit at Rs 28 crore for the quarter ended June 30, 2026, driven by higher premium collection. The insurer’s net profit stood at Rs 23 crore a year earlier.

The company’s net premium income rose to Rs 2,048 crore during the June quarter FY27 from Rs 1,653 crore a year ago, according to a stock exchange filing.

The assets under management (AUM) expanded by 14 per cent to surpass Rs 49,683 crore. The Value of New Business (VNB) grew by 29 per cent to Rs 124 crore in Q1 FY27, it said.

VNB is the present value of expected future earnings from new policies written during a specified period/fiscal and it reflects the additional value to shareholders expected to be generated through the activity of writing new policies during a specified period.

Solvency ratio of Canara HSBC Life Insurance Company, listed earlier last year, declined to 198 per cent as against 200 per cent in the same period a year ago.