Star Health and Allied Insurance Company

“We should ultimately focus on the combined ratio and the ROEs that we are wanting to drive from a mid-teens to a higher teens number over a period of time.”

“The GST impact and all that is part of the plan, and we have designed our monthly strategies accordingly.”

“Our agency productivity improved by 19% year-on-year during H1. The agency continues to deepen penetration where it matters most, with fresh business growth from semi-urban and rural geographies at over 3 times that of metro and urban geographies.”

“Our proprietary digital D2C channel remains the fastest growing, with 137% year-on-year growth in H1, led by younger customers, higher sum insured levels, and rising participation from non-metro and tier 2 markets.”

“Everything is independently run, and we are seeing good traction in that business, and we will continue to invest there as well.”

“our share of D2C business in the overall has gone up from 8% to 13%.”

“While other proprietary channel, which is our agency, which contributes to almost 70%-75% of our fresh business, has also grown significantly at 25-odd percent in Quarter 2.”

“The new-to-insurance mix rose to 93% for the quarter from 89% in Quarter 2 FY26, reflecting our continued focus on first-time buyers of health insurance and selecting a more healthier pool.”

“The growth during the quarter was led by both volume and value, with the number of new-to-insurance policies growing over 10% year-on-year and the average sum insured also rising 13% year-on-year.”

“As we enter the second half, last year's GST-led growth becomes part of the base, and headline growth rates will start to normalize for the industry as well as for Star Health.”

“That possibly answers your question. Our focus is on onboarding sub-40 consumers.”

“I want to make it clear here that we want to bring in more senior citizens into our portfolio as well. It is not a negative segment for us or anything of that nature.”

“The Combined Insurance Service Ratio, CISR, improved by 2.9% to 98% in Quarter 2 FY27 and by 2.4% to 97.9% for H1 of FY27.”

“The bots processed over 7.5 million minutes of call volume while operating at less than 20% of the cost of equivalent human deployment.”

“Fact is that, the sustained improvement points on improving the loss ratio in the vintage book. The fresh book at around 20% slice of the portfolio could not have driven outcomes on its own.”

“But as far as renewal book on standalone basis is concerned, that is now operating less than 100% combined ratio.”

“For the quarter, we could actually do more than lakh of consultations as well as home care services.”

“We are kind of fully invested in REITs and InVITs as of now.”

“We have recently launched a product, a revised version of Young Star, which is called Young Star neo”

“From this quarter, we have discontinued the practice of recognition of insurance finance charges. The previous periods have also accordingly been restated for comparability. There is no impact of this treatment on profitability metrics such as PAT and underwriting results.”

“Going ahead, this insurance finance expenses will be zero.”

“Our internal estimates indicate a credible path to the proposed expense of management limits as a combination of prudent management, operating leverage, and productivity enhancements through our digitization and automation initiatives.”

“Turning to the IRDAI's consultation paper, Recalibrating Economics of Insurance Distribution, released on 23rd September, on which we have already submitted our views to the authority.”

“But what we also believe is that products which are driven by regulations and by mandate, for example, motor third party or crop insurance, or let's say the government-sponsored health insurance programs which ideally should come at zero cost, should be removed from the base so that the EOMs are more reflective of the actual cost”

“I think we will adapt to it. We don't see any particular challenge in that.”

“The Supreme Court order is not notified yet, and it will take its own time for it to get executed. Generally, these things do not directly impact the package pricing that we have negotiated with the hospitals.”

“The gross written premium on reported 1/n basis increased 19% year-on-year to Rs. 5,275 crore for Quarter 2 and also by 19% year-on-year to Rs. 9,562 crore for the H1.”

“On the reported 1/n basis, the fresh retail health has grown by 35% year-on-year for the quarter and 36% year-on-year for the half year.”

“Now coming to the underwriting result for the quarter was Rs. 99 crore compared to a loss of Rs. 40 crore in Quarter 2 of last financial year.”

“For H1 FY27, our underwriting results stood at Rs. 210 crore as against a loss of Rs. 24 crore in H1 of FY26, giving a positive swing of Rs. 234 crore for H1.”

“The profit after tax for the quarter increased over threefold to Rs. 265 crore from Rs. 80 crore in the last year same quarter. And the PAT for the half year increased by 57% year-on-year to Rs. 815 crore.”