Canara HSBC Life Insurance Reports Growth and Plans Expansion
Canara HSBC Life Insurance to expand tieups, says MD & CEO Anuj Mathur
Business Standard
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Canara HSBC Life Insurance, under the leadership of MD & CEO Anuj Mathur, has achieved a 20% growth in annualised premium equivalent for FY26, primarily due to successful bancassurance partnerships. The company aims to diversify its distribution channels despite market volatility affecting unit-linked insurance plan demand.
- 01Canara HSBC Life Insurance reported a 20% growth in annualised premium equivalent for FY26.
- 02Growth is largely attributed to successful bancassurance partnerships with Canara Bank and HSBC.
- 03The company maintains a balanced product mix between unit-linked insurance plans and traditional plans.
- 04Market volatility has slightly impacted the demand for unit-linked insurance plans.
- 05Plans are in place to diversify distribution channels.
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Canara HSBC Life Insurance has reported a significant 20% growth in annualised premium equivalent (APE) for the financial year 2025-26 (FY26), as stated by Anuj Mathur, the managing director and chief executive officer. This growth is primarily driven by the success of its bancassurance partnerships, particularly with Canara Bank and HSBC. Despite some market volatility affecting the demand for unit-linked insurance plans (Ulips), the company has managed to maintain a balanced product mix between Ulips and traditional insurance plans. Moving forward, Canara HSBC Life Insurance plans to diversify its distribution channels to further enhance its market presence.
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The growth in annualised premium equivalent indicates a strengthening of Canara HSBC Life Insurance's market position, which may lead to more competitive insurance products for consumers.
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