Star Health and Allied Insurance Company Limited, India’s largest retail health insurance company, has announced its financial results for the nine months ended December 31, 2024. The company reported a Profit After Tax (PAT) of Rs. 645 crores, driven by steady growth across business segments, innovative product offerings, and strong customer-centric service. The company’s combined ratio stood at 101.8%, and its claims ratio stood at 70.66%, both improved sequentially. The Expense Ratio stood at 31.18%.
Star Health’s financial performance was supported by robust growth in its investment income, which reached Rs. 996 crore in 9MFY25, while its investment assets grew by 15% to Rs. 16,666 crore. The company’s solvency ratio stood at 2.22x, well above the regulatory requirement of 1.5x, demonstrating financial stability and the ability to support its growing policyholder base.
The company continued to expand its distribution network and strengthen its performance across its business drivers. Its agent network grew to 761k, with a net addition of 19k agents in Q3FY25 and 66k in 9MFY25. Bancassurance partnerships increased to 69 in Q3FY25. The company’s focus on customer satisfaction remained strong, with app downloads reaching 8.6 million and over 1 million monthly active users. Digital issuance accounted for 70% of premium collections in 9MFY25, up from 65% in 9MFY24.
Star Health has strengthened its position as a trusted leader in the health insurance sector through consistent growth across its key business channels. The company remains focused on understanding customer needs, delivering quality products, and enabling greater access to healthcare and financial security for families nationwide.