Canara Hsbc Life Insurance Company Limited · NSE:CANHLIFE
Canara Hsbc Life Insurance — FY2026 Earnings Presentation
43 slides from Canara Hsbc Life Insurance's earnings presentation, Apr 28, 2026
Slide 1: Exchange filing cover letter for results presentation
28th April 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, Fort, Mumbai
Slide 2: Investor Presentation FY 2026
Investor Presentation FY 2026
Slide 3: Agenda
Agenda 1 Financial Snapshot 2 Strategic Priorities 3 Distribution Landscape 4 Business Performance Customer Centricity with 5 Technology enablers 6 Macro and Industry Overview 7 Other Business Updates 2
Slide 4: Financial Snapshot: FY 2026 | Improvement across all key metrics
Financial Snapshot : FY 2026 | Improvement across all key metrics Individual WPI Embedded Value| RoEV 1 Persistency 2 ₹ 25,930 Mn CY : ₹ 72,333 Mn | 20.7% 13M - CY : 86.3% | PY : 84.4% vs PY : 19% vs PY : 18% | 19.5% 61M - CY : 55.4% | PY : 55.1% Total APE Value of New Business Total AUM ₹ 27,987 Mn
Slide 5: Agenda
Agenda 1 Financial Snapshot 2 Strategic Priorities 3 Distribution Landscape 4 Business Performance Customer Centricity with 5 Technology enablers 6 Macro and Industry Overview 7 Other Business Updates 4
Slide 6: Key strategic elements remain intact
Key strategic elements remain intact Technology and analytics Distribution leverage and enablers expansion Accelerate advanced AI/Data Continue to increase penetration analytics to drive revenue in existing channels and expand and service improvements business opportunities through new distribution
Slide 7: Scalable distribution landscape
Scalable distribution landscape 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 retail • 6 RRBs across 6 states, • Agency: Launched in across India, en
Slide 8: Agency channel performing as per plan
Agency channel performing as per plan Sep-25 Oct-25 Dec-25 Mar-26 First Agent Agency LIVE First MDRT 6 MDRT Recruited First Policy Login Qualified Qualified Agency Business Model Agency Distribution Model ₹ 140 mn APE collected till Mar’26 Building a Hybrid Agency – which Plan to penetrate Metro
Slide 9: Agenda
Agenda 1 Financial Snapshot 2 Strategic Priorities 3 Distribution Landscape 4 Business Performance Customer Centricity with 5 Technology enablers 6 Macro and Industry Overview 7 Other Business Updates 8
Slide 10: Outperformance continues | FY26 growth better than peers
Outperformance continues| FY26 growth better than peers In ₹ billion Individual WPI CAGR % Industry Private Company 10 Yrs 5 Yrs 3 Yrs (FY16 - 26) (FY21 - 26) (FY23 - 26) 1,204 1,327 1,040 1,090 735 757 876 12% 12% 8% 441 850 955 684 739 15% 16% 12% 452 551 420 Persistency 227 26 22 17 17 19% 20% 16
Slide 11: Healthy growth in both new and renewal premium
Healthy growth in both new and renewal premium In ₹ million Individual WPI Total APE +15% +22% CAGR +13% +23% CAGR 25,930 6,777 7,037 5,886 27,987 6,247 21,787 23,394 17,026 18,878 FY24 FY25 FY26 Q4 FY25 Q4 FY26 FY24 FY25 FY26 Q4 FY25 Q4 FY26 Renewal Premium Gross Premium 1 +20% CAGR +10% 61,287 +19
Slide 12: Product and channel mix
Product and channel mix | maintaining a balanced product mix with continued focus on increasing protection mix Product mix – NBP basis Product mix – APE basis FY26 FY25 FY26 FY25 4% 3% 14% 12% 11% 13% 6% 35% 6% 8% 9% 39% 7% 51% 4% 54% 30% 26% 20% 19% 13% 14% ULIP Protection Annuity ULIP Protection A
Slide 13: New product launches in Q4
New product launches in Q4 | strengthened traditional and pension product offerings Offers long-term financial security up to age Combines early income payouts with long-term 100, with structured income payouts and legacy wealth accumulation planning benefits Assures certainty of payouts and i
Slide 14: Customer centricity remains at the core
Customer centricity remains at the core Persistency 1 improved across key cohorts Claim settlement ratio (Overall) FY26 FY25 86.3% 84.4% 73.7% 71.5% 65.3% 64.0% 99.1% 99.3% 99.4% 99.6% 60.7% 61.5% 55.4% 55.1% 13 M 25 M 37 M 49 M 61 M FY23 FY24 FY25 FY26 Net Promoter Score (TNPS) 3 Surrender Ratio 2
Slide 15: Improving VNB trajectory | Driving profitable growth
Improving VNB trajectory | Driving profitable growth In ₹ million 571 (86) (531) 965 (133) 6,273 Sales 1,028 4,461 Year-on-year VNB growth of 41% Persistency Mar’25 Business Business Change in Change in Labor code GST Impact Mar’26 volume impact mix impact Operating Economic Impact Assumptions Assum
Slide 16: Change in Embedded value (IEV): March'26
Change in Embedded value (IEV) : March’26 In ₹ million EVOP ₹ 12,625 mn Operating ROEV 20.7% 6,273 1,302 72,530 72,333 5,139 (90) (822) (380) (197) 61,107 Value of in-force business (VIF) Adjusted Net worth (ANW) 56,696 42,604 18,504 15,637 IEV Mar’25 Unwind VNB Operating Assumption Economic Dividen
Slide 17: Financial Metrics at a glance
Financial Metrics at a glance | Sustainable and Consistent improvement In ₹ million Total Operating IEV VNB VNB % PAT Expense RoEV Ratio1 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% FY26 72,333 20.7% 6,273 22.4% 1,2662 18.7% +18% +41% +8% 1 Total Expense ratio
Slide 18: AUM steadily growing
AUM steadily growing Key indicators Assets class composition 6% 18% Sales 98% (Debt investment) 32% Equity AAA & Sovereign Government Securities Debentures and Bonds Money Market Instruments and others 12% AUM 68:32 Debt Equity 43% Growth Ratio Persistency AUM : Linked/Non Linked Linked Non Linked A
Slide 19: Agenda
Agenda 1 Financial Snapshot 2 Strategic Priorities 3 Distribution Landscape 4 Business Performance Customer Centricity with 5 Technology enablers 6 Macro and Industry Overview 7 Other Business Updates 18
Slide 20: Customer, business, people-centric and efficient AI-ML solutions
Customer, business, people-centric and efficient AI-ML solutions 4 Bedrocks of our business Customer Revenue Controls/ Efficiencies People Automated Quality Check Faster policy issuance Increased conversions, Increasing productivity (QC), 3x call sample size, and improved customer improved collectio
Slide 21: 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 22: 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 5.5 Lacs+ unique customers on Digital application WhatsApp Mobile App – (rating 4.5 )* 24*7 flexibility to place Submission & e-KYC service requests & access Ease of submis
Slide 23: 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 24: Agenda
Agenda 1 Financial Snapshot 2 Strategic Priorities 3 Distribution Landscape 4 Business Performance Customer Centricity with 5 Technology enablers 6 Macro and Industry Overview 7 Other Business Updates 23
Slide 25: India is growing rapidly with insurance holding a steady share
India is growing rapidly with insurance holding a steady share GDP growth rate%1 India GDP size Household Financial Savings Share of Insurance in Financial (in $ trillion)2 composition3 Savings3 of Household sector India China UK USA Physical savings Gross financial savings 10 Currency & Deposits Sh
Slide 26: 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) 4.827 7.5 6.5 6.5 6.4 3.011 2.833 2.539 2.300 4.2 3.8 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 27: Under-tapped opportunity for retirement segment
Under-tapped opportunity for retirement segment Age wise population projected population Pension market size as a % of GDP 146.2% 28% 26% 24% 22% 20% 0-14 31% 98.3% 90.1% 65% 65% 65% 54.0% 15-59 61% 63% 64% 31.3% 60+ 8% 9% 10% 11% 13% 15% 3.0% 2011 2016 2021 2026 2031 2036 India Japan Hong Canada US
Slide 28: Sustainable Growth: India's Next Big Leap
Sustainable Growth: India’s Next Big Leap Income growth across cohorts India’s Per Capita Income1 (USD) Merging Lines between India & Bharat2 India Bharat Monthly Household Income Growth in Graduate & Postgraduate (FY17- FY23 CAGR)3 (FY17- FY23 CAGR)3 +14% 5,000 5.6% 2,600 7.8% 5.6% 8.4% India FY25
Slide 29: Sustainable Growth: India's Next Big Leap
Sustainable Growth: India’s Next Big Leap MPI based on NFHS-4 (2015-2016) MPI based on NFHS-5 (2019-2021) Rising affluence India’s middle-income segment as % of all households2 +4% 46% 30% 2020 2030 Top 10 cities- Average annual growth in middle- income households3 Bhopal 5% Jamshedpur 5% Patna 5% I
Slide 30: 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% 67.2 76% 74% 59.5 71% 70% 61% 55% 55% 54% 41.8 41% 32.8 27.3 30.1 19.1 19.9 10.1 13.9 13.6 7.5 9.7 5.0 India Indonesia Malaysia Thailand China Japan Sou
Slide 31: Industry new business trends
Industry new business trends Private LIC Individual WPI (Rs bn) 955 850 684 739 401 420 452 357 315 356 351 354 372 287 246 278 291 305 FY17 FY18 FY19 FY20 FY21 FY23 FY24 FY25 FY26 Private players Market share 54% 58% 60% 66% 68% 71% 72% Private 26% 12% 8% 24% 8% 15% 12% Growth % LIC 15% 5% -3% 9% -
Slide 32: Agenda
Agenda 1 Financial Snapshot 2 Strategic Priorities 3 Distribution Landscape 4 Business Performance Customer Centricity with 5 Technology enablers 6 Macro and Industry Overview 7 Other Business Updates 31
Slide 33: Key performance indicators
Key performance indicators FY26 FY25 FY24 FY23 Individual weighted premium income (“WPI”) Mn 25,930 21,787 17,026 16,576 Annualized premium equivalent (“APE”) Mn 27,987 23,394 18,878 18,837 Renewal business premium Mn 61,287 49,059 42,276 34,807 Total Premium Income (NB+RB) Mn 1,00,456 80,275 71,287
Slide 34: Key metrics – Quarterly trends
Key metrics – Quarterly trends In ₹ million Individual WPI Product mix (APE) 9,406 19% 7,333 33% 6,777 5,886 5,764 45% 49% 51% 5,073 56% 3,983 76% 74% 3,493 54% 42% 35% 25% 25% 25% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 15% 15% 12% 20% FY 25 FY26 10% 20% 17% 15% 7% 8% 3% 7% 2% 4% 11% 6% 6% 7% Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 35: Sensitivity Analysis
Sensitivity Analysis Key metrics Scenario Change in VNB margin Change in EV FY24 FY25 FY26 FY24 FY25 FY26 Increase by 1% 2.7% 1.3% 1.7% 2.4% 2.6% 1.0% Reference rate Decrease by 1% -3.4% -1.8% -2.4% -3.2% -3.5% -1.4% Increase by 10% 0.3% 0.2% -0.2% 0.9% 1.0% 1.2% Equity Market Movement Decrease by 1
Slide 36: Comprehensive product portfolio
Comprehensive product portfolio Long Term Savings Life Protection Retirement Planning Unit Linked Riders Guaranteed Participating New launches in Q4FY26
Slide 37: 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 38: ESG – Environmental, Social, Governance
ESG – Environmental, Social, Governance Canara HSBC Life Insurance | FY 2025-26 | Year 1 of Business Responsibility and Sustainability Reporting (BRSR) reporting ~4,000 77.97 36% 7,500+ 2 E S S S G Saplings planted YTD Avg learning hrs / employee women representation Community lives touched ISO cert
Slide 39: Awards & Accolades: FY2026
Awards & Accolades : FY2026 Great Place To Work ET Now Insurance Summit and Awards 2025 (Jan 2026 – Jan 2027) Most Amiable Insurer 5th Year in a Row (Compact category) ET Now Best Brands 2025 India Insurance Summit & Awards 2026 Recognised amongst India’s top Brands driving A 5-category sweep impact
Slide 40: 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 41: 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 42: 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 43: Thank you
Thank you For queries, please reach out to Investor Relation team - Amit Jain (amit.jain3@canarahsbclife.in) 42
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