CANARAHSBCLIFEINSURANCE / Q4-FY26 / claim-ledger

Audit the questions that mattered.

Canara HSBC Life · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ4-FY26 · 2026-04-30Back to quarter ↗

Questions audited

Answered directly

92%

Numeric claims

Consistency

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Question ledger

What was answered, and how?

Mohit Mangal · Sentrum

direct

Reasons for negative economic variance of 820 million in EV

The main reason for this is actually the equity reduction. So the fall in equity markets. So that has resulted in the UL because the good proportion of UL is invested in equity.

Mohit Mangal · Sentrum

direct

Split of economic variance between equity and debt

The reduction is mostly coming from the equity side. On the debt side... they mostly cancel out... the bigger impact is coming from equity, the debt side is very marginal.

Mohit Mangal · Sentrum

direct

Future VNB margin trajectory and GST impact in FY27-28

We have rebased the margin now... we don't see that it is going to further impact... we expect that the margin is expected to grow from the current level... It will be around 22 to 23% range.

Mohit Mangal · Sentrum

direct

Agency channel performance and product mix

We have done well in the first six months... the quantum of businesses that we've done now is 14 crores... looking at close to 5% contribution coming from agency over next three years.

Mohit Mangal · Sentrum

direct

Rider attachment rate on ULIP policies

It's about 70% on the UL based unit link policies... in terms of NOP base number of customers... in premium terms it is around 5% of the total premium.

Anita · Value Partners

evasive

Impact of HSBC stake increase and DFS open architecture statement

On the first question, it's a media speculation and as a company we don't comment on media speculation. On the second question... we haven't got any kind of details further from the DFS or regulator.

Anita · Value Partners

direct

Product mix difference between HSBC and Canara Bank branches

In HSBC... unit link proportion is around 60% or so and in Canara bank UL proportion again would be in the range of about 50%.

Sankit Goda · Aventus Park

direct

Why VNB margin guidance is 22-23% when adjusted for GST it is 25%

In this 22.4, there is also a benefit which we have got from the yield curve... which might not repeat itself... plus there is a full-blown impact of the agency growth which will be a negative strain.

Sankit Goda · Aventus Park

direct

Reason for large operating variance of 130 crores in EV walk

It's largely because of the opex efficiencies... the per policy cost is improving and that is flowing into a positive operating variance.

Sankit Goda · Aventus Park

direct

Capital adequacy and need for future capital raise given growth plans

190 includes a sub debt... solvency is going to go back upward of 200%... that will be sufficient for us to write additional protection business... as and when we will be requiring more capital we will be again evaluating.

Nishin Chawat · Kep

direct

Drivers of 340 bps positive business impact in VNB walk

I would attribute it to primary three reasons: increase in protection, high rider attachment at about 70%, and the red lights and PTP mix.

Swarnab Mukharji · 361 Capital

direct

Product segments driving growth and interest rate sensitivity

Our overall strategy is very clear that we want a very balanced product mix which would mean roughly 50% ULIP and 50% traditional. On sensitivity, we've been increasing the duration of our assets and hedging ratio.