The bonus will benefit around 2.33 lakh eligible policyholders whose participating policies were in force as of March 31 The payout represents an 8.31% increase compared to the previous financial year.
According to the company, the declared bonus will be added to policy benefits and will be payable as per policy terms, including at maturity, surrender, or other eligible claim events.
All participating policies in force as of the eligibility date are covered under the declaration.
Participating policies, also known as with-profits plans, allow policyholders to share in the insurer’s surplus through periodic bonus declarations. These bonuses are accumulated and paid out in accordance with policy conditions.
Canara HSBC Life Insurance Company Limited said the bonus reflects its financial performance and investment approach during the year.
The company is a joint venture between Canara Bank and HSBC Insurance (Asia Pacific) Holdings Limited and operates through a bancassurance-led distribution network across India.
Earlier this week, HDFC Life Insurance announced a bonus of ₹4,596 crore for participating policyholders following a board meeting held on April 16.
The company said the bonus will benefit around 22.2 lakh participating policyholders. It added that this is its highest-ever bonus declaration to date.
Bajaj Life Insurance also declared a record bonus of ₹1,939 crore for participating policyholders for the financial year 2025–26 (FY26), its highest ever so far.
