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The Economic Times

Star Health wants to apply for composite license to enter pure term and motor insurance space

Star Health and Allied Insurance Co. Ltd. plans to diversify into term and motor insurance markets by leveraging its existing health insurance portfolio. The company aims to apply for a composite insurance license once the Insurance Act is amended, targeting a total book growth to Rs 30,000 crore by 2028.

Business Standard

Star Health aims to double business to over Rs 30,000 cr in 4 yrs: MD

Standalone health insurer Star Health and Allied Insurance Company Ltd., has set a target to double its Gross Written Premium to about Rs 30,000 crore over the next four years, a top official said here on Wednesday. The city-headquartered company had recorded a GWP of Rs 15,254 crore in FY24 and reported a profit after tax of Rs 845 crore up by 37 per cent over last financial year, Managing Director and Chief Executive Officer Anand Roy said. "We are aspiring to grow faster than the industry. Our target is to double our business in the next four years. We have been growing at 22 per cent (Compounded Annual Growth Rate) from FY 2020-24. By FY28, our target is to reach Rs 30,000 crore (GWP). This is an internal target that we have set ourselves...," he told reporters. Since its inception in 2006, Star Health and Allied Insurance Company has approved claims of about Rs 44,000 crore. The doubling of Gross Written Premium would be based on deeper penetration into markets including tier

The Economic Times

Star Health aims to double Gross Written Premium to Rs 30,000 cr in 4 yrs: MD

Star Health and Allied Insurance Company Ltd. has set a target to double its Gross Written Premium to about Rs 30,000 crore over the next four years. The company, based in Chennai, has recorded a profit after tax of Rs 845 crore, a 37% increase from the previous financial year. The company has approved claims of about Rs 44,000 crore since its inception in 2006.