Star Health and Allied Insurance Company Limited announced its financial results for the second quarter and half-year ended September 30, 2026. The company reported a normalized Profit After Tax (PAT) of ₹390 Crore for Q2 FY27, marking a 70% increase year-over-year. Underwriting profit also showed significant improvement, swinging from a loss to a profit of ₹99 Crore in Q2 FY27. For H1 FY27, normalized PAT grew 56% YoY to ₹775 Crore.
Star Health Reports Robust Q2 FY27 Financials
Star Health and Allied Insurance Company Limited has announced strong financial results for the second quarter (Q2) and first half (H1) of the financial year 2027 (FY27), ending September 30, 2026. The company achieved a normalized Profit After Tax (PAT) of ₹390 Crore for Q2 FY27, demonstrating a substantial year-over-year growth of 70%. This performance reflects the company’s sustained profitable growth trajectory.
Underwriting Profit Shows Significant Improvement
A key highlight of the results is the considerable improvement in underwriting profitability. For Q2 FY27, the underwriting profit stood at ₹99 Crore, a significant turnaround from a loss of ₹40 Crore in the corresponding quarter of the previous year (Q2 FY26). This trend continued in the first half of FY27, with underwriting profit reaching ₹210 Crore, a marked improvement from a loss of ₹24 Crore in H1 FY26. Notably, the underwriting profit for H1 FY27 surpassed the entire underwriting profit of ₹198 Crore for FY26.
Key Financial and Business Highlights
Q2 FY27 Performance
- Gross Written Premium (GWP): Increased by 19% year-over-year to ₹5,275 Crore.
- Retail Health Fresh GWP: Saw a rise of 35% year-over-year.
- Normalized Profit After Tax (PAT): ₹390 Crore (70% YoY Growth from ₹229 Crore in Q2 FY26).
- Profit After Tax (PAT): ₹265 Crore (233% YoY growth from ₹80 Crore in Q2 FY26).
- Combined Insurance Service Ratio (CISR): Improved to 98.0% from 100.9% in Q2 FY26.
H1 FY27 Performance
- Gross Written Premium (GWP): Increased by 19% year-over-year to ₹9,562 Crore.
- Retail Health Fresh GWP: Saw a rise of 36% year-over-year.
- Normalized Profit After Tax (PAT): ₹775 Crore (56% YoY Growth from ₹496 Crore in H1 FY26).
- Profit After Tax (PAT): ₹815 Crore (57% YoY growth from ₹518 Crore in H1 FY26).
- Combined Insurance Service Ratio (CISR): Improved to 97.9% from 100.3% in H1 FY26.
Customer Trust and Operational Efficiency
The company continues to focus on customer trust and operational efficiency. In H1 FY27, Star Health settled 22.5 lakh claims, with the Retail Claims Settlement Ratio improving to 92.4%. Persistency also saw a positive trend, improving by 4% YoY to 102%, and the Company Net Promoter Score (NPS) increased by 4 points to 65.
Star Health attributes its consistent performance to its ‘Normalised PAT’ framework, which accounts for an 8% normalized annual investment yield. This approach provides a clear view of underlying profitability, insulated from short-term market volatility. The company’s digital initiatives, including its proprietary Digital D2C channel, continue to drive growth, with 97% of fresh policies now sourced digitally.
Source: BSE
