Financial Performance FY2025-26
Star Health and Allied Insurance Company Limited reported strong financial results for FY2025-26 with a 16% year-on-year increase in net profit to ₹911 crore (IND AS). Gross Written Premium grew 13% to ₹20,384 crore, while Insurance Revenue reached ₹17,999 crore. The company maintained its market leadership in retail health insurance with 31% market share and achieved a solvency ratio of 2.05 times the regulatory requirement. Key profitability metrics showed improvement with Underwriting Profit of ₹206 crore and Combined Ratio of 98.8%.
Operational Excellence and Digital Transformation
The company demonstrated robust operational performance with 95% of its portfolio in retail health insurance and a 99% renewal ratio. Digital transformation initiatives were particularly successful, with 96% of fresh business premiums collected digitally and 95% of fresh policies sourced digitally. The mobile application surpassed 14 million downloads with 1.5 million monthly active users. Network expansion included over 15,000 hospitals, with 12,400+ Agreed Network Hospitals offering pre-agreed package pricing. Service metrics showed 92% of cashless claims settled within three hours and 75% of claim volumes processed through AI-enabled platforms.
Investment Portfolio and Financial Position
The total investment portfolio stood at ₹21,007 crore, generating investment income of ₹1,091 crore with 81% allocation to fixed-income instruments. The balance sheet showed Share Capital of ₹588.40 crore and Reserves and Surplus of ₹7,000.83 crore. The company maintained high credit ratings with India Rating and Research and Care Ratings both assigning AA with Stable outlook for subordinate debt. Outstanding Non-Convertible Debentures amounted to ₹470 crore with 8.75% interest rate.
Corporate Governance and Board Structure
The Board composition included 11 Directors with 5 Independent Directors and 18% women representation. Key appointments included Mr. Rajeev Kher as Non-Executive Chairperson and Mr. Amitabh Jain as Chief Operating Officer & Whole-time Director. The company maintained comprehensive committee structures with Audit Committee (4 meetings), Investment Committee (6 meetings), and Risk Management Committee (4 meetings). Governance frameworks included ISO 22301-certified Business Continuity Management and ISO 27001 certification for information security.
ESG and Sustainability Initiatives
Star Health identified 11 material responsible business conduct issues including Data Privacy, Innovation & Technology Adoption, and Ethics and Compliance. CSR expenditure totaled ₹8.73 crore supporting 32 healthcare clinics across 9 states impacting over 1 million lives. Environmental performance included commitment to achieve Net Zero emissions by FY2040, with 17,000+ saplings planted. The workforce comprised 18,566 employees with 32.79% women representation and over 12 lakh training hours delivered.
Regulatory Compliance and Disclosures
The Integrated Annual Report was filed pursuant to SEBI Listing Obligations and Disclosure Requirements Regulation 2015. The company faced regulatory penalties including ₹3.39 crore from IRDAI for cyber security guideline violations and ongoing GST disputes amounting to ₹289.99 crore. Statutory auditors provided unmodified opinions with key audit matters focusing on Information Technology Systems and Controls and Claim Settlement processes. The report confirmed no subsidiaries, associates, or joint ventures exist.