VNB margin target of 22-23% for FY27
Management expects VNB margin to improve to 22-23% in FY27, factoring in full-year GST impact and agency strain, but excluding one-time yield curve benefits.
CANARAHSBCLIFEINSURANCE / guidance tracker
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Canara HSBC Life · forward-looking guidance across the available source record.
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What management said would happen.
margins
Agency channel to contribute ~5% in 3 years
The agency channel, launched in October 2025, is expected to contribute around 5% of total business in the next three years, with a phased scale-up.
Alternate channels to reach 15% share in 3 years
Alternate channels (excluding bancassurance) currently at 9% of WPI, targeted to increase to 15% over the next three years.
Growth to outperform industry
Management expects to continue outperforming industry growth, though no specific top-line guidance was given due to geopolitical uncertainty.