Core Announcement

Star Health and Allied Insurance Company Limited, India’s largest standalone health insurer, reported its financial results for the quarter and half‑year ended 30 September 2026. The company highlighted a 70% year‑over‑year increase in Normalised Profit After Tax (PAT) to ₹390 crore for Q2 FY27 and a 233% YoY rise in reported PAT to ₹265 crore for the same quarter.

Q2 FY27 Financial Performance

  • Normalised PAT: ₹390 crore, up 70% YoY.
  • Reported PAT: ₹265 crore, up 233% YoY from ₹80 crore in Q2 FY26.
  • Underwriting profit turned positive at ₹99 crore, reversing a loss of ₹40 crore in Q2 FY26.
  • Combined Insurance Service Ratio (CISR) improved to 98.0%, a 2.9‑point reduction from 100.9% in the prior year quarter.
  • Gross Written Premium (GWP) on a reported 1/N basis rose 19% YoY to ₹5,275 crore.
  • Retail health fresh GWP increased 35% YoY.

H1 FY27 Financial Performance

  • H1 GWP reached ₹9,562 crore, a 19% YoY increase.
  • Retail health fresh GWP grew 36% YoY.
  • Underwriting profit for the half‑year was ₹210 crore, up from a ₹24 crore loss in H1 FY26 and exceeding the full‑year FY26 underwriting profit of ₹198 crore.
  • Normalised PAT for H1 FY27 was ₹775 crore, up 56% YoY from ₹496 crore in H1 FY26.
  • Reported PAT for H1 FY27 rose 57% YoY to ₹815 crore, compared with ₹518 crore in H1 FY26.
  • CISR improved to 97.9%, a 2.4‑point decline from 100.3% in H1 FY26.

Claims Excellence & Customer Trust

  • The insurer settled 2.25 million claims during H1 FY27.
  • Retail claims settlement ratio improved by 1.4 percentage points to 92.4% in H1 FY27.
  • Policy persistency increased 4% YoY to 102%.
  • Net Promoter Score (NPS) rose by four points to 65.
  • The company leveraged AI/ML analytics, network management, wellness programs, tele‑consultation and technology‑driven claims processing to enhance precision, efficiency and customer experience.

Digital First Approach

  • 97% of fresh policies were sourced digitally, underscoring deep digital adoption across the retail franchise.
  • The proprietary Digital Direct‑to‑Consumer (D2C) channel recorded 137% YoY growth in H1 FY27, driven by younger customers, higher sum‑insured levels and expanded reach beyond metro cities.
  • The company upgraded its CRM platform to Salesforce, improving lead management and conversion in D2C.
  • AI‑powered bots were scaled across acquisition and service functions.
  • More than half of active agents now use ATOM PRO, the AI‑enabled distribution platform.
  • The Star Health Customer App surpassed 17 million downloads with 1.5 million monthly active users.
  • 96% of claims are now processed on the new AI‑enabled platform, strengthening fraud, waste and abuse detection.

Distribution Strength

  • Agency and Digital D2C together contributed over 90% of GWP in H1 FY27.
  • The insurer added 39,000 agents during the half‑year, taking the total agency force to 870,000, the largest among standalone health insurers.
  • Agent productivity rose 19% YoY.
  • 93% of fresh business originated from first‑time health‑insurance buyers, with non‑metro geographies accounting for over 65% of fresh business.

CEO Commentary

Anand Roy, CEO & Managing Director, stated that the company’s progress is reflected in both financial growth and heightened customer confidence. He highlighted the 4‑point rise in NPS to 65, the 4% YoY improvement in persistency to 102%, and the fifth consecutive quarter of underwriting profit improvement. Roy emphasized ongoing investments in AI, digital capabilities, provider relationships and wellness initiatives to deliver seamless access and service. He noted that the H1 underwriting profit exceeding the prior full‑year profit underscores a resilient business model delivering lasting value for customers and shareholders.

About Star Health and Allied Insurance

Star Health and Allied Insurance Company Limited (NSE: STARHEALTH, BSE: 543412) commenced operations in 2006 as India’s first standalone health insurer. The company offers health, personal accident and travel insurance, with specialised products for cancer, diabetes, cardiac illnesses, senior citizens, women and children. It operates a multi‑channel distribution network of over 900 offices, 870,000 agents, robust bancassurance and financial‑institution partners, 17,000+ network hospitals and a workforce of more than 18,500 employees. Star Health is the first Indian health insurer to settle over 1 crore claims.