News ArticleStar Health Reports ₹390 Crores Normalised PAT in Q2 FY27, Up 70% YoY with Fifth Consecutive Underwriting Profit Increase
Company achieves ₹99 Crores underwriting profit in Q2 FY27, up from ₹40 Crores loss a year earlier, with 19% growth in Gross Written Premium to ₹5,275 Crores
Star Health and Allied Insurance reports a 70% YoY increase in Normalised PAT to ₹390 Crores for Q2 FY27, marking the fifth consecutive quarter of underwriting profit improvement. The company also saw a 19% rise in Gross Written Premium to ₹5,275 Crores and enhanced claims settlement performance.
Star Health and Allied Insurance Company Limited
General / Other
Star Health and Allied Insurance announced a 70% year-on-year increase in Normalised Profit After Tax (PAT) to ₹390 Crores for the quarter ended September 30, 2026, driven by its fifth consecutive quarter of underwriting profit improvement and a 19% growth in Gross Written Premium (GWP) to ₹5,275 Crores.
The company’s underwriting profit swung from a loss of ₹40 Crores in Q2 FY26 to a profit of ₹99 Crores in Q2 FY27, reflecting improved operational performance.
For the half-year ended September 30, 2026, Star Health reported an underwriting profit of ₹210 Crores, surpassing the full-year FY26 underwriting profit of ₹198 Crores.
Retail health fresh Gross Written Premium increased by 35% year-on-year in Q2 FY27, supporting the overall premium growth.
Financial metrics also showed progress with the Combined Insurance Service Ratio improving to 98.0% from 100.9% in the same quarter last year.
The company settled 22.5 lakh claims during the first half of FY27 and improved its retail claims settlement ratio to 92.4%. Persistency also improved by 4% year-on-year to 102%. Star Health’s net promoter score increased by 4 points to 65, indicating stronger customer satisfaction.
Highlights
- Normalised PAT for Q2 FY27: ₹390 Crores, 70% YoY increase compared to ₹229 Crores in Q2 FY26
- Underwriting Profit for Q2 FY27: ₹99 Crores versus ₹40 Crores loss in Q2 FY26
- Gross Written Premium (Reported 1/N basis) rose 19% YoY to ₹5,275 Crores in Q2 FY27
- Retail Health fresh GWP increased 35% YoY in Q2 FY27
- Combined Insurance Service Ratio improved to 98.0% in Q2 FY27
- 22.5 lakh claims settled in H1 FY27 with Retail Claims Settlement Ratio of 92.4%
Key Data Snapshot
What happened
- Star Health reported Normalised PAT of ₹390 Crores in Q2 FY27, a 70% increase from ₹229 Crores in Q2 FY26.
- Underwriting Profit improved to ₹99 Crores in Q2 FY27 from a loss of ₹40 Crores in Q2 FY26, marking the fifth straight quarter of underwriting profit growth.
- Gross Written Premium rose 19% year-on-year to ₹5,275 Crores, supported by strong retail health fresh business growth of 35%.
Key details
- For H1 FY27, underwriting profit was ₹210 Crores compared to a loss of ₹24 Crores in H1 FY26 and exceeded FY26 full year underwriting profit of ₹198 Crores.
- Combined Insurance Service Ratio improved to 98.0% in Q2 FY27 from 100.9% in Q2 FY26, indicating better cost management.
- Retail claims settlement ratio improved to 92.4% in H1 FY27 with persistency increasing 4% year-on-year to 102%.
- Star Health settled 22.5 lakh claims during the first half of FY27.
- Digital sales channels, especially Direct-to-Consumer, grew rapidly, with proprietary digital channel up 137% year-on-year in H1 FY27.
Business impact
- Fifth consecutive quarter of improved underwriting results reflects stronger risk selection and operational efficiencies.
- Growth in retail health fresh premium and improvement in claims settlement ratios demonstrate strengthening customer trust and market reach.
- Incremental adoption of AI and technology for claims processing and distribution platforms supports efficiency and customer experience.
Management commentary
- CEO Anand Roy highlighted customer-centric progress reflected in financial growth and enhanced customer experience.
- Emphasis on AI, digital capabilities and wellness initiatives to improve service accessibility and claims process.
- Underwriting profits for H1 FY27 exceeded the full previous fiscal year, supporting business resilience and shareholder value.
Highlights
- Normalised PAT for Q2 FY27: ₹390 Crores, 70% YoY increase compared to ₹229 Crores in Q2 FY26
- Underwriting Profit for Q2 FY27: ₹99 Crores versus ₹40 Crores loss in Q2 FY26
- Gross Written Premium (Reported 1/N basis) rose 19% YoY to ₹5,275 Crores in Q2 FY27
- Retail Health fresh GWP increased 35% YoY in Q2 FY27
- Combined Insurance Service Ratio improved to 98.0% in Q2 FY27
- 22.5 lakh claims settled in H1 FY27 with Retail Claims Settlement Ratio of 92.4%
Disclosures
- Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Source Information
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