Canara Hsbc Life Insurance Company Limited · NSE:CANHLIFE
Canara Hsbc Life Insurance — 9M FY2026 Earnings Presentation
37 slides from Canara Hsbc Life Insurance's earnings presentation, Jan 21, 2026
Slide 1: Exchange filing cover letter for results presentation
Date: 21st January, 2026 To, To, National Stock Exchange of India Limited BSE Limited (“BSE”) (“NSE”) Listing Department, Listing Department, Corporate Relationship Department, Exchange Plaza, C-1 Block G, Bandra Kurla Phiroze Jeejeebhoy Towers, Complex Bandra [East], Mumbai – 400051 Dalal Street, F
Slide 2: Investor Presentation 9M-FY 2026
Investor Presentation 9M-FY 2026
Slide 3: Agenda
Agenda 1 Performance Snapshot 2 Strategic Priorities 3 Business Performance Customer Centricity with 4 Technology enablers 5 Macro and Industry Overview 6 Other Business Updates 2
Slide 4: Snapshot: 9M FY 2026 | Steady improvement across all key metrics
Snapshot : 9M FY 2026 | Steady improvement across all key metrics Individual WPI Embedded Value| RoEV 1 Persistency 2 ₹ 19,153 Mn CY : ₹ 68,678 Mn | 18.2% 13M - CY : 85.6% | PY : 83.4% vs PY : +20% March 25 : ₹ 61,107 Mn 61M - CY : 59.2% | PY : 57.5% Total APE Value of New Business Total AUM ₹ 20,95
Slide 5: Agenda
Agenda 1 Performance Snapshot 2 Strategic Priorities 3 Business Performance Customer Centricity with 4 Technology enablers 5 Macro and Industry Overview 6 Other Business Updates 4
Slide 6: Strategic Priorities
Strategic Priorities Technology and analytics Distribution leverage and enablers expansion Levering advanced AI/Data Increase penetration in existing analytics to drive revenue channels and expand business and service improvements opportunities through new distribution avenues 04 Customer Centricity
Slide 7: Agenda
Agenda 1 Performance Snapshot 2 Strategic Priorities 3 Business Performance Customer Centricity with 4 Technology enablers 5 Macro and Industry Overview 6 Other Business Updates 6
Slide 8: Scalable distribution landscape
Scalable distribution landscape | Agency launched with an aim to expand and diversify distribution Canara – Growth along with HSBC - Premium & RRB’s – Deeper Penetration Others – Diversification Profitability Engine Profitability Engine Engine Engine • 9,800+ branch network • Access to affluent reta
Slide 9: Sales outperformance continues – sustainable growth
Sales Outperformance continues – sustainable growth In ₹ billion Individual WPI CAGR % Industry Private Company 10 Yrs 5 Yrs 3 Yrs (FY15 - 25) (FY20 - 25) (FY22 - 25) 1,090 1,204 1,040 735 757 876 897 +10% 11% 10% 11% 408 850 684 739 551 651 +13% 16% 15% 16% 420 452 Persistency 200 22 17 17 19 +20%
Slide 10: Healthy growth in both new and renewal premium
Healthy growth in both new and renewal premium In ₹ million Individual WPI Total APE +28% +20% +29% +24% +22% +37% 21,787 19,153 9,406 23,394 20,950 10,027 17,026 15,900 7,316 18,878 17,133 7,309 FY24 FY25 9M FY25 9M FY26 Q3 FY25 Q3 FY26 FY24 FY25 9M FY25 9M FY26 Q3 FY25 Q3 FY26 Renewal Premium Tota
Slide 11: Product mix | well diversified with focus annuity and protection
Product mix | well diversified with focus annuity and protection Product mix • Protection and annuity continue to grow at a healthy pace 9M FY26 9M FY25 Basis APE • Within protection, focus remains on credit protect where 12% 11% we continue to leverage our Banca relationships. Credit life 5% 6% gre
Slide 12: Persistency | Significant improvement across key cohorts
Persistency1 | Significant improvement across key cohorts Improvement across key cohorts 9M FY26 9M FY25 Basis Premium 85.6% 83.4% 73.5% 70.9% 65.8% 64.4% 62.2% 63.0% 59.2% 57.5% 85.6% 80.7% 82.5% 13M 74.5% 75.3% 13 M 25 M 37 M 49 M 61 M 57.7% 59.2% 55.4% • YoY improvement in all cohorts of persiste
Slide 13: Comprehensive product portfolio
Comprehensive product portfolio Wide range of solutions designed for every stage of life Protection Solutions Term Protection across all life stages, from early aspirations to lifelong security Retirement Solutions Annuity Guaranteed income for life, ensuring confidence and peace of mind Wealth Crea
Slide 14: Financial Metrics at a glance
Financial Metrics at a glance | Sustainable and Consistent improvement In ₹ million Total Operating IEV VNB VNB % PAT Expense RoEV Ratio2 FY24 51,799 18.5% 3,776 20.0% 1,113 18.9% FY25 61,107 19.5% 4,461 19.1% 1,170 18.7% 9M FY25 59,295 20.4% 3,019 17.6% 849 20.0% 9M FY26 68,678 18.2%1 4,129 19.7% 9
Slide 15: Value of New Business (VNB) movement
Value of New Business (VNB) movement In ₹ million 138 (67) (341) Sales 383 120 4,129 877 3,019 Year-on-year VNB growth of 37% Persistency Dec’24 Business Business Change in Change in Labor code GST Impact Dec’25 volume impact mix impact Operating Economic Impact Assumptions Assumptions VNB margin* 1
Slide 16: AUM growing steadily
AUM growing steadily Rating exposure Assets class composition 6% 17% 99% Sales (Debt investment) Equity 36% AAA & Sovereign Government Securities Debentures and Bonds Money Market Instruments and others 17% AUM 64:36 Debt Equity 40% Growth Ratio Persistency AUM : Linked/Non Linked Linked Non Linked
Slide 17: Agenda
Agenda 1 Performance Snapshot 2 Strategic Priorities 3 Business Performance Customer Centricity with 4 Technology enablers 5 Macro and Industry Overview 6 Other Business Updates 16
Slide 18: Revolutionizing Underwriting Efficiency and Accuracy
Revolutionizing Underwriting Efficiency and Accuracy UW Copilot is set to transform underwriting by enhancing efficiency, ensuring accuracy, and ultimately leading to improved risk management and decision-making practices Overview 1. Industry first GenAI-powered underwriting solution that automates
Slide 19: Driving Scale Through a Robust Digital Ecosystem
Driving Scale Through a Robust Digital Ecosystem Instant servicing, quick claims & round the clock access to policy information 5,14,900+ unique customers on WhatsApp Digital application Mobile App – (rating 4.3 ) 24*7 flexibility to place Submission & e-KYC service requests & access Ease of submiss
Slide 20: Scalable Business & Secure Architecture
Scalable Business & Secure Architecture Cloud & Microservices based Infrastructure Microservices Based Open-Source Architecture Cloud Elasticity and Scale Cloud Native Applications Secure Environment & Data API & SDK Based Integrations Tier 4 Data Center Agile change delivery with Mobile App for S
Slide 21: Agenda
Agenda 1 Performance Snapshot 2 Strategic Priorities 3 Business Performance Customer Centricity with 4 Technology enablers 5 Macro and Industry Overview 6 Other Business Updates 20
Slide 22: Insurance maintains a steady share in a growing economy
Insurance maintains a steady share in a growing economy India GDP size (in $ trillion)1 Household Financial Savings Share of Insurance in Financial Savings2 of composition2 Household sector Physical savings Gross financial savings Currency & Deposits Shares & debentures Household savings as % of GDP
Slide 23: India remains vastly uninsured; huge potential for growth
India remains vastly uninsured; huge potential for growth Life insurance penetration1 Life insurance density2 9.2 5.923 In (%) In (USD) 7.5 4.827 6.5 6.5 6.4 3.011 2.833 2.539 4.2 3.8 2.300 2.084 1.809 3.3 1.501 2.7 2.7 2.7 2.7 2.4 448 313 201 72 UK Taiwan Singapore France Japan# South Korea Malaysi
Slide 24: Under-tapped opportunity for retirement segment
Under-tapped opportunity for retirement segment Age wise population Pension market size as a % of GDP 146.2% 8.4 9.2 10.1 11.4 13.1 14.9 98.3% 90.1% 60.7 62.8 64.2 64.8 65.1 64.9 (%) 54.0% 31.3% 30.9 28.1 25.7 23.8 21.9 20.1 3.0% 2011 2016 2021 2026 2031 2036 India Japan Hong Kong Canada USA Austral
Slide 25: Opportunities to grow credit life with growing retail lending
Opportunities to grow credit life with growing retail lending Protection gap highest for India(1) Retail credit is growing at a healthy pace(2) 83% 76% 74% 59.5 71% 70% 61% 55% 55% 54% 41.8 41% 30.1 27.3 19.1 19.9 13.9 13.6 10.1 9.7 7.5 5 India Indonesia Malaysia Thailand China Japan South Korea Sin
Slide 26: Industry new business trends
Industry new business trends Private LIC Individual WPI (Rs bn) 850 684 739 651 401 420 452 357 315 305 356 351 354 287 246 278 291 246 FY17 FY18 FY19 FY20 FY21 FY23 FY24 FY25 9M FY26 Private players Market share 54% 58% 60% 66% 68% 71% 73% Private 26% 12% 8% 24% 8% 15% 13% Growth % LIC 15% 5% -3% 9
Slide 27: Agenda
Agenda 1 Performance Snapshot 2 Strategic Priorities 3 Business Performance Customer Centricity with 4 Technology enablers 5 Macro and Industry Overview 6 Other Updates 26
Slide 28: Improvement across all key metrics
Improvement across all key metrics 9M FY26 9M FY25 FY25 FY24 FY23 Individual weighted premium income (“WPI”) ` Mn 19,153 15,900 21,787 17,026 16,576 Annualized premium equivalent (“APE”) ` Mn 20,950 17,133 23,394 18,878 18,837 Renewal business premium ` Mn 40,019 29,783 49,059 42,276 34,807 Total Pr
Slide 29: Key metrics
Key metrics In ₹ million Individual WPI Total APE 9,406 10,027 7,316 7,309 5,762 5,996 5,081 5,119 4,928 3,983 4,720 3,493 Q1 FY25 Q2FY25 Q3 FY25 Q1 FY26 Q2FY26 Q3 FY26 Q1 FY25 Q2FY25 Q3 FY25 Q1 FY26 Q2FY26 Q3 FY26 Product mix (APE) 56% 45% 49% 51% ULIP - Savings Annuity Non ULIP - Savings Protectio
Slide 30: Financial Risk Management
Financial Risk Management Hedging Pricing & Risk monitoring Natural hedge within the Active review of pricing in line policyholder funds with interest rate movements Comprehensive Hedging Product pricing based on prudent program through Derivatives to assumptions and pricing approach hedge i
Slide 31: Change in Embedded value (IEV): September'25
Change in Embedded value (IEV) : September’25 In ` million 2,143 156 117 (380) 65,633 (198) 65,435 61,107 2,489 42,604 49,437 Value of in-force business (VIF) Adjusted Net worth (ANW) 18,504 15,998 IEV Mar’25 Unwind VNB Operating Economic Dividend IEV Sep’25 Impact of GST IEV Sep’25 Variances Varian
Slide 32: ESG – Environmental, Social, Governance
ESG – Environmental, Social, Governance Environmental Social Governance •Digital enablement: Customer servicing Employee Wellbeing & Growth: •Board strength & independence: Highly through IVR, SMS, WhatsApp bots, and Comprehensive physical, mental, and experienced and diverse Board (30+ years online
Slide 33: Awards & Accolades: Q3 FY26
Awards & Accolades : Q3 FY26 Great Place To Work (Jan 2026 – Jan 2027) 5th Year in a Row ET Now Best Brands 2025 Recognised amongst India’s top Brands driving impactful consumer marketing ET Now Insurance Summit and Awards 2025 Most Amiable Insurer (Compact category) e4m Maverick Awards 2025 Best Co
Slide 34: Abbreviations (1/2)
Abbreviations (1/2) • Annualized Premium Equivalent (APE): APE is Annualized premium equivalent is calculated by summing the annualized first-year premiums of regular premium policies and 10% of the single premiums • Individual Weighted Premium Income (Individual WPI): Individual WPI is defined as s
Slide 35: Abbreviations (2/2)
Abbreviations (2/2) • Value of New Business (VNB): Value of new business is the present value of expected future earnings from new policies written and it reflects the additional value to shareholders expected to be generated through the activity of writing new policies. • Embedded Value (EV): Embed
Slide 36: Disclaimer
Disclaimer The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or purchase any securities of Canara HSBC Life Insurance Co. Ltd in India or in any other jurisdiction. This presentation is not intended to be a prospect
Slide 37: Thank you
Thank you For queries, please reach out to Investor Relation team - Amit Jain (amit.jain3@canarahsbclife.in) 36
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