Canara HSBC Life

Canara HSBC Life delivered a strong FY26, with individual WPI growth of 19% YoYCurrent 19% YoY. Reported change: +19% YoY., the highest among top 10 players. VNB grew 41% YoYCurrent reported value: 41% YoY. No comparable prior figure is available in the source record. to ₹627 crore, with margin expanding to 22.4%Current 22.4%. Reported change: +330bps YoY. (up from 19.1%), driven by a favorable product mix shift toward traditional and protection. Protection share rose to 7%Current 7%. Reported change: +3pp YoY. from 4%, and 13-month persistency improved to 86.3%Current 86.3%. Reported change: +1.9pp YoY.. The agency channel, launched in October, collected ₹14 crore AP in six months. Management guided VNB margin of 22-23% for FY27, factoring in full-year GST impact and agency strain. Key risk: equity market volatility could pressure ULIP sales and EV, as seen in the ₹820 million negative economic variance.