Star Health aims to double its gross written premium to ₹30,000 crore by FY28

  • Star Health continues to lead the retail health segment with a 32.2% market share  

Bakshi Holdings bakshirounaq5@gmail.com

Mon 24 Feb, 08:53
to me
  • Star Health Insurance Reports Rs. 645 Crore Profit for 9MFY25
  • Star Health continues to lead the retail health segment with a 32.2% market share  
  • Star Health posted consistent financial and operational performance in 9MFY25. 
  • The company’s combined ratio stood at 101.8%, and its claims ratio stood at 70.66%, both improved sequentially. 
  • The Expense Ratio stood at 31.18%. 
  • The Company’s financial performance is supported by robust growth in its investment income, to Rs. 996 crore in 9MFY25, while the company’s investment assets grew by 15%, totaling Rs. 16,666 crore. 
  • With a solvency ratio of 2.22x, well above the regulatory requirement of 1.5x, Star Health continues to demonstrate financial stability and the ability to support its growing policyholder base  
  • Star Health continues to expand its distribution network and strengthen its performance across its business drivers. 
  • Its agent network has grown to 761k, with a net addition of 19k agents in Q3FY25 and 66k in 9MFY25. 
  • Bancassurance partnerships increased to 69 in Q3FY25  
  • Star Health Insurance is India's leading standalone health insurer, operating since 2006. 
  • The Company offers Health, Personal Accident and Travel Insurance, with specialized products for cancer, diabetes, cardiac illnesses, senior citizens, women and children. 
  • Star Health has a strong distribution network, including 910 offices, 14000+ network hospitals, ~17000 employees, 7.6 lac+ agents, and robust bancassurance partnerships. 
  • The Company is also the first in India to settle over 1 .2 crore claims amounting to INR 54000 crores. 
  • In FY24, Star Health reported a gross written premium of Rs 15,254 Cr and a net worth of Rs 6,339 Cr.  

 https://youtube.com/shorts/TSddMvtrsGM?si=fLOXKJpjOJz8CNZR


Star Health aims to double its gross written premium to ₹30,000 crore by FY28
  • Star Health and Allied Insurance Co Ltd, a leading standalone health insurance company, aims to double its gross written premium (GWP) to ₹30,000 crore by FY28. 
  • This ambitious goal is supported by deeper market penetration in both urban and rural areas.
  • The Chennai-headquartered company’s gross written premium grew to ₹15,251 crore in FY24 from ₹12,951 crore in FY23. During FY20-FY24, the company grew at a CAGR of 24 per cent.

  • “Many companies have entered the health insurance space and many new applicants are also coming into the industry because the opportunity is very large. So we aspire that whatever we could achieve in the last 18 years, we want to double that in the next four years, Anand Roy, MD & CEO, Star Health and Allied Insurance Company Ltd said while announcing the availability of home healthcare services for its customers across 50 cities

  • The company reported a profit after tax of ₹845 crore in the last financial year, a 37 per cent increase from the previous year.

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