Star Health and Allied Insurance Company Limited — Investor Meet, 03-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Star Health posted strong Q3 FY26 results: GWP rose 23% YoY to Rs 5,047 Cr, and PAT surged to Rs 449 Cr. Underwriting profit hit Rs 46 Cr, a turnaround driven by combined ratio improving 320 bps to 98.9% and loss ratio dropping 301 bps to 68.8%. Retail loss ratios also saw a decline.

Operational highlights include 45% fresh business growth in Q3, strong agency and digital channel performance, and a shift to a 95:5 retail-to-group mix. Digital adoption is high, enhancing efficiency and customer experience. Management focuses on disciplined underwriting, targeting mid-teens ROE, and expects continued loss ratio improvement from past price hikes. Long-term policies are a key growth area, now 51% of fresh GWP.