Q1 2026 Star Health and Allied Insurance Company Ltd Earnings Call Transcript
Key Points
- Star Health and Allied Insurance Co Ltd (BOM:543412) reported a 13% year-on-year growth in gross written premium, reaching INR3,936 crore for Q1 FY26.
- The company's retail health gross written premium grew by 18% to INR3,667 crore, with a strong renewal persistency of 98%.
- The digital channel is experiencing rapid growth, contributing 20% to new business, with a 73% increase in fresh business.
- The company has successfully reduced its IFRS expense ratio by 100 basis points to 30.1% from the previous year.
- Star Health and Allied Insurance Co Ltd (BOM:543412) achieved an IFRS PAT of INR438 crore, marking a 44% year-on-year increase.
- The company's combined ratio for Q1 FY26 stood at 99.6%, slightly higher than the previous year's 99.2%.
- The net incurred claim ratio increased to 69.5% from 68.1% in the previous year, indicating higher claims costs.
- Despite improvements, the claims settlement ratio is still lower compared to some industry peers.
- The bancassurance channel saw a decline in fresh GWP, indicating challenges in this distribution segment.
- Investment income growth is partly driven by mark-to-market gains, which may not be sustainable in the long term.
Ladies and gentlemen, good day, and welcome to Star Health and Allied Insurance Company Limited Q1 FY26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Ms. Ms. Devanshi Dave from Adfactors PR, Investor Relations team. Thank you, and over to you, Ms. Devanshi Dave.
Good morning, everyone. From the senior management, we have with us Mr. Anand Roy, Managing Director and Chief Executive Officer; Mr. Amitabh Jain, Chief Operating Officer; Mr. Himanshu Walia, Chief Marketing Officer; Mr. Nilesh Kambli, Chief Financial Officer; Mr. Aneesh Srivastava, Chief Investment 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
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