Q2 2026 Star Health and Allied Insurance Company Ltd Earnings Call Transcript
Key Points
- Star Health and Allied Insurance Co Ltd (BOM:543412) reported a 12% year-on-year growth in gross written premium, reaching INR8,809 crores for H1 FY26.
- The company maintained a strong retail health market share of 32% and achieved a 24% growth in fresh retail premiums.
- The digital business channel grew by 47% year-on-year, contributing 20% to the overall fresh business, highlighting the company's digital-first approach.
- The net incurred claim ratio improved to 70.6% for H1 FY26, showing a decrease from the previous year, indicating better claims management.
- The company's investment yield stood at 8.3% for H1 FY26, supported by a diversified portfolio including equity, ETFs, REITs, and InvITs.
- Despite improvements, the loss ratio remains higher than pre-COVID levels, indicating ongoing challenges in claims management.
- The profit after tax for Q2 FY26 decreased to INR79 crores from INR124 crores in the same quarter last year, impacted by MTM losses.
- The combined ratio for H1 FY26 was 100.3%, indicating that the company is still working towards achieving a more profitable underwriting result.
- There is a potential near-term drag on earnings due to strong new business growth and the impact of GST changes on long-term policies.
- The company faces challenges in fully passing on GST-related cost savings to consumers, particularly in negotiations with distributors.
Ladies and gentlemen, good morning, and welcome to Star Health and Allied Insurance Company Limited Q2 and H1 FY 2026 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Devyanshi Dave from Adfactors PR. Thank you, and over to you, Ms. Dave.
Thank you. Good morning, everyone. From the senior management, we have with us on the call today 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 financials and operating performances, benefits and synergies of the company's
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