Star Health reports strong FY2025 growth, strategic advancements

Star Health and Allied Insurance Company Limited announced its annual report for FY2024-25, showcasing strong financial performance with a total gross written premium (GWP) of ₹16,781.36 crores, a 15% increase from the previous fiscal year. Net earned premium reached ₹14,822.20 crores, contributing to a profit after tax (PAT) of ₹645.86 crores, while maintaining a healthy solvency ratio of 2.21 times. The company settled 1.9 million claims, with 96% settled within three hours, emphasizing efficient customer service.

Key strategic initiatives included the launch of the "Super Star" product, offering customizable health insurance, and significant investments in technology, such as AI-powered claims adjudication and a one-touch renewal flow on its app. The company's extensive network, comprising 913 branches and over 7 lakh agents across 25 states and 5 union territories, ensures widespread access to health insurance solutions, particularly in semi-urban and rural areas. ESG efforts included a "Platinum" rating for its Chennai corporate office and India’s first Braille health insurance policy, underscoring a commitment to sustainable and inclusive practices.

Star Health's commitment to ethical conduct is reinforced by its ABAC policy and regular training on human rights, with 100% coverage for board members and KMPs. The company also reported 9 sexual harassment complaints in FY2024-25, with 3 pending resolution. Water consumption from third-party sources was 171,134 kiloliters, and GHG emissions (Scope 1 and 2) totaled 8,159.27 metric tons of CO2 equivalent.