Sells retail health insurance in India, collecting premiums from policyholders and earning investment income on insurance reserves. Gross written premium was ₹20,369 cr in FY26 (+16% YoY), with retail health insurance market share at 31.3% that year. Distribution is led by proprietary channels — over 90% of retail business flows through agency and digital direct-to-consumer, supported by 8.5 lakh agents; digital D2C grew fresh business 142% YoY in Q1 FY27. Claims are settled mostly cashless through network hospitals — 9.6 lakh claims in Q1 FY27 at a 91% retail claims ratio, with 80%+ cashless. Claims cost is the largest input; retail loss ratio was 64.8% in Q4 FY26. The combined ratio improved to 97% in Q1 FY27, producing an underwriting profit of ₹111 cr (vs ₹16 cr YoY). Telemedicine (50,000 consultations in Q1 FY27, up from 9,000 a year earlier) and home healthcare are bundled with policies to manage claims cost. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Retail Health Insurance Premiums, Investment Income on Insurance Reserves. Retail health insurer with proprietary distribution focus; recently turned underwriting-profitable after a recalibration year.
| ₹ crore · consolidated | FY22 | FY23 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| EBITDA (ex other income) | — | — | — | — |
| margin % | — | — | — | — |
| Owners' profit | (1,041) | 619 | 646 | 557 |
| EPS, as reported (₹) | — | — | — | — |
| ROE % · ROCE % | — · — | — · — | — · — | — · — |
| Debt / equity (x) | — | — | — | — |
| Cash from operations | 56 | 1,276 | 1,379 | 1,873 |
| Capex | (14) | (25) | (46) | (1) |
| ₹ crore | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — | — |
| Profit before tax | — | — | — | — | — | — | — | — |
| Net profit | 288 | 125 | 290 | 1 | 263 | 55 | 128 | 111 |
| EPS (₹) | — | — | — | — | — | — | — | — |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| STAR HEALTH & AL INS CO L ◆ | — | — | — | — | — | — | — | — |
| THE NEW INDIA ASSU CO LTD | — | — | — | — | — | — | — | — |
| GO DIGIT GENERAL INS LTD | — | — | — | — | — | — | — | — |
| ICICI LOMBARD GIC LIMITED | — | — | — | — | — | — | — | — |
| GENERAL INS CORP OF INDIA | — |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Star Health withdraws promoter group reclassification application | ownership changes | medium | — | — |
| 11 Sept 2026 · Star Health to attend Jefferies India Forum on Sept 18, 2026 in Gurgaon | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Star Health schedules analyst and investor meetings on Sep 18 at Jefferies India Forum | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Star Health schedules analyst meeting with Franklin Templeton on Sep 16 | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Star Health schedules virtual investor meeting with Ellerston Capital | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Star Health AGM 2026: All 3 resolutions pass with strong majority | board shareholder meetings | low | — | — |
| 29 Aug 2026 · 21st AGM: All 3 resolutions passed, Scrutinizer Report filed | compliance | low | — | — |
| 28 Aug 2026 · Mr. Utpal Hemendra Sheth appointed Non-Executive Nominee Director | management changes | medium | — | — |
| 28 Aug 2026 · Star Health holds 21st AGM; voting results awaited | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Star Health schedules analyst meeting with Eternity Capital on Sep 2 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
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| NIVA BUPA HEALTH INS CO L | — | — | — | — | — | — | — | — |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| Profit growth | 21729.4 | 21.9 | 1 of 12 | 100% |
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
