Event Type: Q1 FY2027 Earnings Conference Call

Date and Time: The call was held on July 30, 2026. The specific time was not mentioned in the transcript.

Purpose: Discussion of Q1 FY2027 financial results and operational performance.

Management Participants:

  • Mr. Anand Roy – Managing Director and Chief Executive Officer
  • Mr. Amitabh Jain – Executive Director & Chief Operating Officer
  • Mr. Himanshu Walia – Executive Director & Chief Marketing Officer
  • Mr. Nilesh Kambli – Chief Financial Officer
  • Mr. Aneesh Srivastava – Chief Investment Officer
  • Mr. Sombit Bhattacharyya – Head Investor Relations

Financial Period Discussed: Q1 FY2027 (April-June 2026)

Key Financial Highlights from Management Commentary:

  • Gross Written Premium (1/N basis): Increased 19% YoY to Rs. 4,287 crore
  • Gross Written Premium (N basis): Increased 19% YoY to Rs. 4,672 crore
  • Fresh Retail Health GWP: Increased 37% YoY to Rs. 730 crore (1/N basis)
  • Fresh Retail Health GWP (N basis): Increased 35% YoY to Rs. 1,039 crore
  • New-to-insurance mix: 94% on Fresh Retail Business vs 90% in Q1 FY26
  • Underwriting Result: Rs. 111 crore vs Rs. 16 crore in Q1 FY26
  • Combined Insurance Service Ratio (CISR): Improved by 1.7% from 98.7% to 97%
  • Investment Income: Increased 10% YoY to Rs. 644 crore
  • Profit After Tax: Increased 25% YoY to Rs. 550 crore
  • Normalized PAT (at 8% normalized annual investment yield): Increased 44% YoY to Rs. 386 crore
  • Annualized ROE: Increased from 12.2% in Q1 FY26 to 15.6% in Q1 FY27

Strategic Themes and Forward-Looking Statements:

  • Celebration of 20 years of operations (completed May 18, 2026)
  • Focus on three strategic priorities: driving sustainable growth through proprietary distribution, enhancing core underwriting profitability through portfolio management and data analytics, and customer centricity through technology investments
  • Retail market share at 29% in Q1 FY27 vs 31% in Q1 FY26, reflecting disciplined focus on preferred segments
  • Proprietary channels (agency and digital D2C) contribute 90%+ of overall retail business
  • Agency network expanded to 8.5 lakh agents with 19% YoY improvement in productivity
  • Digital D2C fresh business grew 142% YoY with 98% customers being new to insurance
  • Customer app reached ~16 million downloads with 1.5 million monthly active users
  • Management targets mid-to-high teen ROE on a steady-state basis

Compliance Statement: The document includes standard forward-looking statement disclaimer noting that some statements may involve risks and uncertainties.

Availability of Materials: The transcript is hosted on the company's website at www.starhealth.in

Additional Notes Section

Attachments: The document references an enclosed transcript of the earnings call dated July 30, 2026.

Financial Data Disclosure: Significant financial data was disclosed in the management commentary during the earnings call, including detailed operational and financial metrics for Q1 FY2027.