Canara HSBC Life: Q2 Net Profit Rises 11% to Rs 41 Cr

New Delhi, Oct 27 (PTI) Canara HSBC Life Insurance Company on Monday reported an 11 per cent rise in net profit to Rs 41 crore in the September quarter of the current fiscal.

The insurer had recorded a net profit of Rs 37 crore in the year-ago quarter.

This is the first quarterly numbers after the listing of the insurance company on the bourses on October 17.

The total income of the insurance firm promoted by Canara Bank came down to Rs 2,349 crore during the quarter under review, compared to Rs 3,335 crore a year ago, Canara HSBC Life Insurance Company said in a regulatory filing.

The company collected a net premium of Rs 2,260 crore in the July-September period, up from Rs 1,829 crore in the year-ago period.


The solvency ratio of the insurance company also moderated to 198 per cent from 217 per cent at the end of September 2024.

As of September 30, 2025, the company has issued 95,00,00,000 subscribed and paid-up equity shares (face value of Rs 10 each), out of which 48,45,00,000 equity shares were held by Canara Bank and its nominees, and therefore, Canara Bank is classified as a holding company in the financials, it said.

Pursuant to the listing of the company's equity shares on stock exchanges - NSE and BSE - on October 17, 2025, the existing shareholders sold 23,75,00,000 equity shares through an offer for sale in its initial public offering (IPO).

In this offering, Canara Bank sold 13,77,50,000 shares, and as a result, the company ceases to be a subsidiary of Canara Bank.

HSBC Insurance (Asia-Pacific) Holdings Limited and Punjab National Bank also sold 47,50,000 and 9,50,00,000 shares, respectively, it added.