Exclusive: Life insurers see uneven growth as some lag, others outperform in FY26
Published on 10/04/2026 03:50 PM
Exclusive: Life insurers see uneven growth as some lag, others outperform in FY26Life insurers reported mixed retail APE trends for FY26, with industry growth at around 12%, according to CNBC-TV18 sources. While HDFC Life and ICICI Prudential missed guidance, Axis Max Life and SBI Life met or exceeded expectations.By Yash Jain April 10, 2026, 3:50:50 PM IST (Updated)1 Min ReadLife insurance companies reported a mixed performance in retail APE (Annualized Premium Equivalent) for FY26, with industry growth pegged at around 12%, according to sources cited by CNBC-TV18.Among key players, HDFC Life saw its March retail APE decline 1%, while FY26 growth came in at 8%, missing its 13% guidance. ICICI Prudential Life also reported a 1% drop in March and a 1% decline for the full year, falling short of its guidance to outpace industry growth.In contrast, Axis Max Life posted a 7% rise in March retail APE and delivered a strong 19% growth for FY26, exceeding its guidance of beating the industry by 400 basis points. SBI Life reported an 8% increase in March and met its FY26 guidance with a 13% growth.Canara HSBC Life reported a 3% decline in March retail APE but recorded a robust 19% growth for the full year.HDFC Life and SBI Life declined to comment citing a silent period, while Canara HSBC Life was unavailable for comment and Axis Max Life said it would not comment. ICICI Prudential Life’s response is awaited.Also Read: HDFC Life board to consider fund raise via preferential issue on April 16Continue ReadingFirst Published: Apr 10, 2026 3:49 PM ISTTagsHDFC Life InsuranceICICI PrudentialLife insurersSBI Life