Canara HSBC Life Insurance Company shares hit a new high, logging 11% intraday gain; here's why

Canara HSBC Life Insurance Company share price surged more than 11% on Tuesday, 21 July, to hit a new high after the insurer reported a healthy rise in its June quarter earnings, aided by robust premium growth.

The company posted a 20% year-on-year increase in net profit to ₹28 crore for the quarter ended 30 June 2026, compared with ₹23 crore in the corresponding period last year, according to an exchange filing.

Net premium income rose 24% to ₹2,048 crore during the quarter from ₹1,653 crore a year earlier, reflecting healthy business growth.

The insurer's assets under management (AUM) grew 14% year-on-year to ₹49,683 crore, while its Value of New Business (VNB) increased 29% to ₹124 crore in the first quarter of FY27.

The company said its solvency ratio stood at 198% as of June-end, compared with 200% in the year-ago period, remaining comfortably above the regulatory requirement.

Anuj Mathur, Managing Director and CEO of Canara HSBC Life Insurance, said the company delivered another quarter of profitable growth, supported by its strong distribution network and an improving product mix despite a challenging global economic environment.

He said Annualised Premium Equivalent (APE) grew 18.8% year-on-year, in line with the company's guidance, while the number of policies issued increased 19%, reflecting the strength of its distribution-led strategy.

Mathur added that the insurer continued to strengthen its protection business, with protection APE rising 41.5% year-on-year and contributing 13% of total APE. Credit Life APE also posted robust growth of 40.7% during the quarter.

He further noted that Value of New Business (VNB) increased 28.8% year-on-year to ₹124 crore in Q1 FY27, driven by a favourable shift in the product mix towards protection and traditional products. The company remains focused on sustaining growth across distribution, protection and profitability while creating long-term value in India's expanding life insurance market, he said.

Canara HSBC Life Insurance Company share price opened at an intraday low of ₹154 per share, and touched an intraday high of ₹166.50 apiece on the BSE.

Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, said Canara HSBC Life Insurance has largely traded in a well-defined sideways range since its listing, except for the sharp rally immediately after its market debut. However, the stock's technical structure has turned increasingly constructive, with the ₹137-135 zone emerging as a strong support area where buying interest has consistently absorbed selling pressure.

Rathi noted that the Point & Figure charts also indicate improving momentum. On the higher timeframe 1% × 3 Point & Figure chart, the stock is on the verge of a Turtle Breakout, while the 0.25% × 3 Point & Figure chart has already generated a Double Top Buy signal, pointing to strengthening bullish momentum across multiple timeframes.

He added that the stock is attempting to break out of its prolonged consolidation phase, and if the breakout sustains, Canara HSBC Life Insurance share price could advance towards the ₹200 level over the near to short term.

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Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a...