Q3 2025 Star Health and Allied Insurance Company Ltd Earnings Call Transcript
Key Points
- Star Health and Allied Insurance Co Ltd (BOM:543412) reported a 16% growth in Gross Written Premium (GWP) for the nine months of FY25.
- The company has retained its retail health market share at 32.2%, which is three times larger than the second player in the industry.
- Investment income grew to INR996 crores in nine months FY25, up from INR790 crores in the same period last year.
- The solvency ratio of the company as of December 2024 was 2.22 times, well above the regulatory requirement of 1.5 times.
- The new product, Super Star, has achieved remarkable success, becoming the top-selling product on the company's digital platform.
- The combined ratio for nine months FY25 increased to 101.8% from 98.3% in the same period last year, indicating higher operational costs.
- The claims ratio for nine months FY25 rose to 70.7% from 67.3% in the previous year, reflecting increased claims expenses.
- Expense ratio for nine months FY25 stood at 31.2%, slightly higher than 31% in nine months FY24.
- The company faces challenges with elevated loss ratios in its group business, particularly in the SME and mid-corporate segments.
- The implementation of the new 1/n accounting method has led to a deferment of reinsurance commission, impacting financial metrics.
Ladies and gentlemen, good day, and welcome to the Star Health and Allied Insurance Company Limited Q3 and nine months FY 2025 earnings conference call. (Operator Instructions)
I now hand the conference over to Mr. Pratik Patil from Adfactors PR Investor Relations team. Thank you, and over to you.
Thank you, Ashushli. Good morning, everyone. From the senior management, we have with us Mr. Anand Roy, Managing Director and Chief Executive Officer; Mr. Nilesh Kambli, Chief Financial Officer; Mr. Aneesh Srivastava, Chief Investment Officer; Mr. Amitabh Jain, Chief Operating Officer; and Mr. Aditya Biyani, Chief Strategy and Investor Relations Officer.
Before we begin the conference call, I would like to mention that some of the statements made during the course of today's call may be forward-looking in nature, including those related to the future financial and operating performances, benefits and synergies of the company's strategies, future opportunities and growth of the market of the company's
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