Star Health and Allied Insurance Co. Ltd. announced robust financial results for Q3 & 9M FY2026. The company reported a 23% YoY increase in GWP for Q3, reaching ₹5,047 crore, and a substantial rise in IND AS PAT to ₹449 crore. The 9M performance showcased an 87% increase in PAT, driven by improved combined and loss ratios, reflecting disciplined execution and positive impacts from corrective actions in underwriting and claims management. Retail health leadership remains a key focus.
Financial Performance Highlights
Star Health and Allied Insurance Co. Ltd. reported a strong performance for the third quarter and the first nine months of fiscal year 2026:
- Q3 FY2026: Gross Written Premium (GWP) increased by 23% year-over-year to ₹5,047 crore.
- Q3 FY2026: The company reported an IND AS PAT of ₹449 crore, a notable increase from ₹87 crore in Q3 FY2025.
- Q3 FY2026: Underwriting profit stood at ₹46 crore, compared to a loss of ₹79 crore in the same quarter of the previous year.
- The combined ratio improved by approximately 320 basis points, reaching 98.9%.
- The loss ratio demonstrated a decline, decreasing by 301 basis points to 68.8%.
9M FY2026 Key Metrics
- 9M FY2026: GWP increased by 16% year-over-year, reaching ₹13,856 crore.
- 9M FY2026: The company’s IND AS PAT increased by 87%, from ₹516 crore to ₹966 crore year-over-year.
- Underwriting profit was reported at ₹20 crore for 9M FY2026, a substantial turnaround from a loss of ₹227 crore in 9M FY2025.
- The combined ratio improved by 222 basis points, decreasing to 99.8%.
Business and Operational Developments
Star Health has continued to build a diversified and granular retail franchise while maintaining its category leadership, holding a 31.3% market share in the retail health segment for 9M FY2026. Further operational details include:
- The agency channel contributed 83% of the business, with GWP growth of 19%.
- Digital channels contributed 9% of overall business and 20% of fresh business, with 35% GWP growth.
- Bancassurance contributed 7% of GWP, achieving 5% growth.
- The company maintains a focus on high-quality SME segments within its corporate distribution.
Customer-Centric Initiatives
Star Health remains focused on delivering a responsible, resilient, and customer-centric approach to health insurance, exemplified through these metrics:
- Settled over 2 million claims amounting to ₹8,900 crore during 9M FY2026.
- Maintained a claims settlement ratio consolidated at 90%.
- Improved cashless claims NPS to 72 points.
- Expanded home healthcare services to over 300 locations.
Source: BSE
