GST input tax credit withdrawal impact on margins
The withdrawal of input tax credit under the new GST regime could reduce VNB margins by ~2.25% annually if mitigation measures are insufficient.
CANHLIFE / Q2-FY26 / risks
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Canara HSBC Life Insurance Company · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Agency ramp-up costs may pressure expense ratio
Setting up the agency channel could increase operating expenses, potentially reversing the recent improvement in expense ratio.
Persistency drop in Q2 vs Q1 due to GST deferment
Quarter-on-quarter persistency showed a slight decline, partly attributed to customers deferring premium payments due to GST clarity timing.