Star Health and Allied Insurance has announced strong financial results for FY26, reporting a 16% year-on-year increase in Profit After Tax (PAT) to ₹911 Crores. The company achieved a Gross Written Premium (GWP) of ₹20,369 crores and demonstrated significant improvements in operating efficiency. Key underwriting metrics showed positive momentum, with the Combined Ratio improving to 98.8%, reflecting the insurer’s focus on profitability and sustained leadership in the Indian retail health insurance market.
Financial Performance for FY26
Star Health has concluded the fiscal year 2026 with robust growth across key financial indicators. The company reported a Profit After Tax of ₹911 Crores, representing a 16% increase compared to the previous year. Revenue growth remained strong, with Gross Written Premium (GWP) reaching ₹20,369 crores on an N-basis. A notable highlight was the turnaround in underwriting performance, moving from a loss of ₹165 crore in FY25 to an underwriting profit of ₹206 crore in FY26.
Operational Efficiency and Underwriting
The company achieved a marked improvement in its core operating metrics. The Combined Ratio improved to 98.8% for the full year, a significant reduction from 101.1% in FY25. This was supported by a reduction in the Loss Ratio to 68.7% and an Expense Ratio of 30.1%. The performance was particularly strong in the final quarter (Q4: Jan-Mar), where the Combined Ratio tightened further to 95.7%, signaling a highly efficient conclusion to the fiscal year.
Claims, Digital Transformation, and Customer Focus
Customer-centric initiatives drove significant trust and engagement throughout the year. Star Health settled approximately 30 lakh claims amounting to over ₹11,900 crores, maintaining a 99% renewal persistency rate. The company’s digital strategy continues to gain scale, with digital channels now contributing 20% of fresh retail sales. The adoption of the ‘Atom’ distribution app among frontline partners and the use of an AI-enabled claims processing engine—which now settles 84% of claims via cashless mode—have been instrumental in enhancing operational productivity and customer experience.
Source: BSE
