Star Health and Allied Insurance Company Limited has informed the Exchange regarding transcripts of the Earnings Call dated April 29, 2026.
STARHEALTH · price
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Star Health reported a strong FY26 with GWP crossing Rs 20,369 crore (up 16% YoY). Underwriting profit turned positive at Rs 206 crore vs a loss of Rs 165 crore in FY25, driven by combined ratio improvement of 2.3% to 98.8%. Loss ratio improved by 2% to 68.7% with retail loss ratio at 68.2%. Normalized PAT rose 45% YoY to Rs 1,222 crore with ROE expanding to 13.1% from 10.1%. Fresh retail growth was 37% YoY with 93% new-to-insurance customers. Management highlighted strategic focus on pricing discipline, fraud management, Telemedicine and Home Healthcare which led to 4-5x jump in utilization. The company maintained 31.3% market share in Retail Health segment with 2.8 crore lives covered. They plan to grow agent base to 1 million in next two years from current 8 lakh plus.
The company demonstrated a clear operational turnaround with underwriting profit turning positive and loss ratios improving for three consecutive quarters. The focus on quality growth over volume and disciplined underwriting suggests sustainable margin expansion trajectory, though competition from multi-line insurers remains a watchpoint.