Star Health and Allied Insurance reports a strong performance for FY26, marked by a 16% year-on-year growth in Gross Written Premium (GWP), reaching ₹20,369 crore. The company achieved a significant turnaround in underwriting profitability, moving to ₹206 crore from a loss in the previous year. Normalised Profit After Tax grew by 45% to ₹1,222 crore, underscoring enhanced operational efficiencies and a focus on retail growth.
Strong Financial Trajectory
Star Health and Allied Insurance demonstrated resilient growth throughout FY26. The company’s Gross Written Premium (GWP) grew by 16% YoY to ₹20,369 crore. A standout achievement for the year was the reversal of the underwriting loss seen in FY25, with the company recording an underwriting profit of ₹206 crore in FY26. Consequently, the Combined Ratio improved by 236 bps, settling at 98.8%.
Retail Focus and Operational Performance
The company maintained a firm grip on retail business, with fresh retail GWP increasing by 37% YoY to ₹4,567 crore. This growth is supported by a dominant proprietary agency network, which now comprises 8.3 lakh agents contributing to 91% of the fresh retail business. The company’s emphasis on customer centricity is reflected in a 99% annual persistency ratio and an improved Company Net Promoter Score (NPS) of 62, up from 54 in FY25.
Digital Leadership and Claims Management
Star Health’s commitment to a ‘Digital First’ strategy remains a key growth lever. Digital channels have seen rapid acceleration, with fresh retail GWP from digital sources growing significantly to ₹928 crore. Furthermore, the company continues to optimize claims processing, with 92% of cashless claims settled, and 84% of total cashless claims processed via Agreed Network Hospitals (ANH). With over 14 million app downloads, the company is successfully leveraging technology to enhance engagement and service delivery for its 2.8 crore covered lives.
Source: BSE
