Star Health’s PAT Up 16% At Rs911 Cr

Growth and Operating Metrics improve sharply

Anand Roy, CEO & Managing Director, Star Health and Allied Insurance Company

FinTech BizNews Service

Mumbai, April 28, 2026: Star Health and Allied Insurance Company Limited (“Star Health”), India’s largest standalone health insurer, today announced performance for FY2025-26, capping a year marked by strong improvement in profitability, healthier underwriting metrics, and sustained momentum in retail health insurance business. Under IndAS Accounting, the Company posted Profit After Tax (PAT) of Rs911 Crores, a 16% Year-on-Year (YoY) growth, supported by premium growth, better customer renewal persistency, moderation in loss ratio, and improved operating efficiency.

Star Health reiterated its commitment towards transparent reporting practices aligned with principles under IndAS. For the year ended March 31, 2026, the Company registered Gross Written Premium (GWP) of Rs20,369 crores, representing a growth of 16% year-on-year on N basis. Retail Health premium was Rs17,743 crores on same basis, a year-on-year growth of 15%. Star Health continued to maintain its leadership in India’s retail health insurance segment, with FY26 market share at 31%. 

The Company maintained a strong trajectory through the year, with FY26 Combined Ratio improving to 98.8% from 101.1% in FY25; Combined Ratio for Q4 improved from 98.4% in Q4 FY25 to 95.7% in Q4 FY26, reflecting moderation in loss ratio and improved operating efficiency. 

Performance highlights for FY26

§  Business: GWP (N basis) increased 16% YoY to Rs20,369 Crores

§  IndAS PAT: Rs911 Crores (16% YoY growth || FY25: Rs787 Crores)

§  Underwriting Profit: Rs206 Crores, compared to a loss of Rs165 Cr in FY25

§  IndAS Combined Ratio: 98.8% (improvement by 236 bps over 101.1% for FY25)

o    Loss Ratio improved by 194 bps to 68.7%

o    Retail loss ratio improved by 97 bps to 68.2%

o    Expense Ratio improved by 31 bps to 30.1%

Performance highlights for Q4 FY26 

§  Business: GWP (N basis) increased 17% YoY to Rs6,529 Crores

§  Ind AS Combined Ratio: 95.7% (improvement by 266 bps over Q4 FY25 of 98.4%) 

o    Loss Ratio improved for the third successive quarter by 399 bps to 65.2% 

o    Retail loss ratio improved by 294 bps to 64.8%

Claims Excellence & Customer Trust

§  Star Health has settled ~30 Lakh claims amounting to Rs11,900+ Crores during FY26

§  Renewal trends were robust during FY26 with 99% Persistency

§  Company level NPS improved from 54 at March 2025 to 62 at March 2026

Digital First approach

Digital continued to emerge as an important growth and operating lever for the Company in FY26. During the year, digital channel contributed ~20% of fresh retail sales.

The Company’s distribution app “Atom” continued to see increasing adoption among frontline partners with over 1 lakh regular users. Star Health’s AI-enabled claims processing engine helped scale automation and improve productivity in claims processing with ~84% claims being settled under cashless mode.

Star Health customer app also continued to witness strong traction, with 14 Million+ app downloads, 1.5 Million+ monthly active users, self-service claims submission, and digital renewals during the year.

Distribution Strength

Star Health’s distribution network and service infrastructure further continued to support its growth ambitions during FY26. As of March 31, 2026, the Company had a multi-channel distribution network of 900+ offices, over 8.3 lakh agents, 15,000 + network hospitals, and 18,500+ employees. These capabilities, combined with sustained retail franchise momentum and technology investments, continue to support the Company’s long-term growth strategy.

CEO Commentary

Commenting on the performance of the Company, Mr. Anand Roy, CEO & Managing Director, Star Health and Allied Insurance Company Limited, said:

“FY26 has been a year of disciplined execution for Star Health. Our focus on prudent underwriting, operating efficiency, and retail health leadership has translated into stronger profitability and improved operating metrics. We have also continued to deepen digital adoption across the value chain to enhance customer experience and build long-term operating leverage. As we move ahead, we remain committed to sustainable growth, innovation-led service delivery, and making quality health insurance more accessible across India.”

Key Metrics on Ind AS basis