The insurer had posted a net profit of Rs 37 crore in the last year quarter.
These are the first quarterly figures after the insurance company’s stock exchange listing on October 17.
Total revenues of the Canara Bank-promoted insurance company fell 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 filing with the regulator.
The company collected net premium of Rs 2,260 crore in the July-September period, compared to Rs 1,829 crore in the year-ago period.
The insurance company’s solvency ratio also fell to 198 percent from 217 percent at the end of September 2024. As on September 30, 2025, the company has issued 95,00,00,000 issued and paid-up shares (face value of Rs 10 each), of which 48,45,00,000 shares were held by Canara Bank and its nominees, and therefore Canara Bank is classified as a holding company in the financial sector thus. Pursuant to the listing of the company’s shares on the stock exchanges – NSE and BSE – on October 17, 2025, the existing shareholders sold 23,75,00,000 shares through an offer for sale during the initial public offering (IPO).
In this offering, Canara Bank sold 13,77,50,000 shares, and as a result, the company is no longer 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.
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