Star Health and Allied Insurance Company Ltd Q2 FY26 Results
STARHEALTHQ2 FY26 ResultsAnnounced 28 Oct 2025, 06:41 pm| Metric | Value (₹ Cr) | vs Q1 FY26 |
|---|---|---|
| Revenue | 4.3K | 3.6% |
| Total Income | 4.3K | 3.7% |
| Expenditure | 4.3K | 10.8% |
| PBT | 77.68 | 77.9% |
| Net Profit | 54.90 | 79.1% |
| OPM | -0.45% | 6.49pp |
| NPM | 1.29% | 5.09pp |
| EPS | 0.93 | 79.2% |
Star Health Reports 21% YoY Profit Growth to 518 Cr; COR Improves by 170 bps in H1FY26 under IFRS
28 Oct 2025 · 28 Oct 2025, 07:52 pm
Summary
Star Health and Allied Insurance Company Ltd. reported a 21% year-on-year profit growth to 518 crores under IFRS for the half year ended September 30, 2025. The company's gross written premium rose 12% to 8,809 crores (N basis), with retail GWP increasing by 17% to 8,332 crores (N basis). The company's net incurred claims ratio decreased by 30 bps to 70.6% and the expense ratio improved to 29.7% from 31.1% under IFRS. The combined ratio (IFRS basis) improved to 100.3% from 102.1% in the same period last year.
Key Highlights
- 1
21% YoY Profit Growth to 518 Cr
- 2
COR Improves by 170 bps in H1FY26 under IFRS
- 3
24% growth in fresh retail premiums
- 4
Expense ratio improves to 29.7% from 31.1% (IFRS)
- 5
Net Incurred Claims Ratio at 70.6% in HIFY26
- 6
Company continues to lead India’s retail health insurance segment with 32% market share
- 7
Super Star product surpassed the 21,250 crore premium milestone within its first year
Management Comments
Anand Roy
MD & CEO
The first half of this year has been marked by steady, meaningful progress with a 21% growth in PAT as per IFRS. Along with a healthy investment yield of 8.3%, the profitability was contributed by an improved loss ratio and reduction in our expense ratio. Customer experience continues to be a cornerstone of Star Health’s strategy. Our claims NPS improved from 52 to 61 and the overall company NPS has improved from 59 to 61. These outcomes reflect the consistency of our execution and the strength of our retail-focussed model. We are noticing strong tailwinds following GST exemption on retail health insurance. Early trends indicate a clear uptick in demand—reflected in stronger lead generation, new policy issuances, and GWP growth in October—underscoring the rising affordability.
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