Star Health reports Q2 PAT at Rs 111.29 crore

Standalone health insurance provider Star Health and Allied Insurance Company has reported a profit after tax for the July-September 2024 quarter at Rs 111.29 crore, the company said. The city-based company registered a profit after tax of Rs 125.30 crore registered during the corresponding quarter of last year.

For the six month period ending September 30, 2024, the profit after tax grew to Rs 430.21 crore, as against Rs 413.15 crore registered a year ago. The Gross Written Premium during the quarter under review grew to Rs 4,371.30 crore, from Rs 3,731.70 crore registered in the year ago period.

For the six month period ending September 30, 2024, the Gross Written Premium surged to Rs 7,847.22 crore, from Rs 6,680.32 crore registered a year ago. The investment assets grew by 17.2 per cent and reached Rs 16,431 crore as on September 30, 2024, with an investment income of Rs 354 crore.

The combined ratio in Q2FY25 stood at 103 per cent and 101 per cent in H1FY25, a company statement said. The company's Profit After Tax for Q2FY25 stood at Rs 111 crore, it said.

"At Star Health, we are committed to bringing innovative, affordable products to all socioeconomic segments of society, leveraging technology and robust partnerships with healthcare providers to enhance service delivery," said company managing director and CEO Anand Roy.

"By introducing modular plans that adapt to customers' needs across life stages, allowing for customization and scalability - and expanding our inclusive offerings, we have strengthened our reach across key segments. We remain laser focused on ensuring accessible and affordable health insurance for every Indian, especially in under-served markets," he added.