STARHEALTH: Star Health and Allied Insurance Company Limited has informed the Exchange about Annual Report for FY 2024-25
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Star Health has filed its Annual Report for FY 2024-25. Gross Written Premium (GWP) grew 15% to Rs. 17,553 crores, with retail GWP up 25%. However, Profit After Tax fell to Rs. 787 crores from Rs. 1,103 crores in FY24 — a drop of roughly 29%. The combined ratio worsened to 101.1% (from 96.67%), and claims ratio rose to 70.3%. ROE stood at 9.5% and solvency ratio remained comfortable at 2.21 times, well above the regulatory minimum of 1.5 times. The company maintained a 33% retail health market share, settled 96% of cashless claims within three hours, and launched the new 'Super Star' policy. It plans to expand its agent network from 7 lakh to 1 million over the next three years and is aligned with IRDAI's 'Insurance for All by 2047' vision, with 49% of business already coming from rural and semi-urban areas.
Shareholders should note the mixed picture: strong topline growth and retail market leadership, but a sharp drop in profits and a combined ratio above 100%, indicating underwriting losses. Management has acknowledged profitability concerns and outlined a focus on profitable growth, which will be a key area for investors to track in coming quarters.