Star Health PAT up 16% to ₹911 Cr in FY26; Combined Ratio improves

Star Health and Allied Insurance Company Limited reported a 16% Year-on-Year (YoY) increase in Profit After Tax (PAT) to ₹911 Crores for FY26. The company's Gross Written Premium (GWP) grew 16% YoY to ₹20,369 Crores, with retail health premium increasing 20% to ₹19,341 Crores, maintaining a 31% market share. A significant improvement was seen in the Combined Ratio, which bettered to 98.8% in FY26 from 101.1% in FY25, driven by a moderation in loss ratio to 68.7% and an improved expense ratio to 30.1%. The company also achieved an underwriting profit of ₹206 Crores, reversing a loss of ₹165 Crores in FY25. Q4 FY26 performance also showed strong growth with GWP up 17% and a Combined Ratio of 95.7%. Star Health settled approximately 30 lakh claims amounting to over ₹11,900 Crores and maintained a 99% persistency rate, while digital channels contributed significantly to fresh retail sales.