Date: October 28, 2026

Financial Performance Summary

Q2 FY27 Performance

  • Gross Written Premium (GWP): ₹5,275 Crores (19% YoY growth)
  • Retail Health fresh GWP: 35% YoY growth
  • Underwriting Profit: ₹99 Crores (swung from loss of ₹40 Crores in Q2 FY26)
  • Normalised Profit After Tax: ₹390 Crores (70% YoY growth from ₹229 Crores in Q2 FY26)
  • Profit After Tax (PAT): ₹265 Crores (233% YoY growth from ₹80 Crores in Q2 FY26)
  • Combined Insurance Service Ratio (CISR): 98.0% (improvement of 2.9% from 100.9% in Q2 FY26)

H1 FY27 Performance

  • Gross Written Premium (GWP): ₹9,562 Crores (19% YoY growth)
  • Retail Health fresh GWP: 36% YoY growth
  • Underwriting Profit: ₹210 Crores (swung from loss of ₹24 Crores in H1 FY26, exceeding FY26 full year underwriting profit of ₹198 Crores)
  • Normalised Profit After Tax: ₹775 Crores (56% YoY growth from ₹496 Crores in H1 FY26)
  • Profit After Tax (PAT): ₹815 Crores (57% YoY growth from ₹518 Crores in H1 FY26)
  • Combined Insurance Service Ratio (CISR): 97.9% (improvement of 2.4% from 100.3% in H1 FY26)

Business Metrics and Operational Performance

Claims Excellence

  • Settled 22.5 lakh claims during H1 FY27
  • Retail Claims Settlement Ratio improved by 1.4% to 92.4% for H1 FY27
  • Persistency improved by 4% YoY to 102%
  • Company Net Promoter Score (NPS) increased by 4 points to 65

Digital Transformation

  • Digital D2C channel grew 137% YoY in H1 FY27
  • 97% of fresh policies sourced digitally
  • Upgraded customer relationship management platform to Salesforce
  • Scaled up AI-powered bots across customer acquisition and service
  • More than half of active agents use ATOM PRO (AI-enabled distribution platform)
  • Star Health Customer App exceeded 17 million downloads with 1.5 million monthly active users
  • 96% of claims processed on new AI-enabled platform

Distribution Strength

  • Agency and Digital D2C together contributed over 90% of GWP in H1 FY27
  • Added 39,000 agents during half year, taking agency force to 8.7 lakh (largest among standalone health insurers)
  • Agent productivity rose 19% YoY
  • 93% of fresh business from first-time health insurance buyers
  • Non-metro geographies contributed over 65% of fresh business

Management Commentary

Mr. Anand Roy, CEO & Managing Director, commented: \"Our customers are at the heart of how we measure progress. This progress is reflected not only in our financial growth, but also in the confidence customers place in us and their experience when they need healthcare support. Q2 FY27 marked our fifth successive quarter of improvement in underwriting results, and our first-half underwriting profit exceeded that of the entire previous year. This progress supports our commitment to building a resilient business that delivers lasting value for customers and shareholders.\"

Company Background

Star Health is India's largest standalone health insurer, commenced operations in 2006 as India's first standalone health insurance company. The company has:

  • 900+ offices
  • 8.7 lakh agents
  • Robust bancassurance and financial institution partners
  • 17,000+ network hospitals
  • 18,500+ employees
  • India's first health insurance company to settle over 1 crore claims

Normalised PAT Framework

The Company tracks profitability through its 'Normalised PAT' framework, which is pegged to a normalised annual investment yield of 8% to provide a view of underlying profitability insulated from short-term mark-to-market volatility.