Canara HSBC Life Share Price Falls Over 3% After Q2 Results, Reverses From 3.5% Intraday Gain
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Canara HSBC Life shares reversed sharply after rising 3.5% in early trade on October 12. The stock fell over 3% by afternoon despite the insurer reporting higher profit and premium income in Q2 FY27.
Canara HSBC Life Insurance shares reversed sharply on Monday, October 12, falling more than 3% after rising as much as 3.5% in early trade following the company's Q2 FY27 results.
The stock was trading at ₹134.38 on the NSE at 12:11 pm, down 3.48% from its previous close of ₹139.22. Earlier in the session, Canara HSBC Life shares had climbed to ₹144.05, a gain of nearly 3.5%, before giving up all their gains and slipping into the red. The stock had already closed 4.36% lower on Friday ahead of the quarterly results.
The reversal came even as the life insurer reported growth in profit and premium income for the September quarter. Canara HSBC Life's net profit rose 5.5% year-on-year to ₹43.05 crore from ₹40.81 crore, while net premium income increased 13% to ₹2,553.16 crore from ₹2,259.73 crore. Gross premium income stood at ₹2,511 crore, up 6.88% from ₹2,349 crore a year earlier.
The company's board also approved raising up to ₹287.5 crore through subordinated non-convertible debentures on a private placement basis.
Canara HSBC Life Q2 Results
First-year premium income increased to ₹642 crore during Q2 FY27 from ₹575 crore in the year-ago quarter. For the first half of FY27, total premiums rose 17.3% year-on-year to ₹4,742 crore, while new business premiums increased 16% to ₹1,984 crore. Renewal premiums grew 18% to ₹2,758 crore.
For H1 FY27, annualised premium equivalent rose 14.4% to ₹1,250 crore. Value of new business stood at ₹266 crore, up 24% year-on-year, while the VNB margin stood at 21.3%.
The insurer also saw a change in its product mix during the first half. Unit-linked insurance plans accounted for 41% of APE, down from around 50% a year earlier, while the share of non-participating savings products increased to 25% from 17%. Protection products accounted for 10% of APE.
Canara HSBC Life's solvency ratio stood at 180%, above the regulatory minimum of 150%. The company said the proposed subordinated debt raise would support business growth, higher solvency requirements for protection products and investments across distribution channels.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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