Star Health and Allied Insurance Company Ltd hopes to achieve GWP of Rs 24,000 crore in the current fiscal, compared with Rs 20,400 crore in FY26, a top official said on Tuesday.
The company, which already has 35 health insurance plans catering to various segments of society, will launch two affordable plans in the current fiscal with a focus on tier 2 and 3 cities, Star Health MD and CEO Anand Roy told reporters here.
Star Health, which set a target to reach Rs 30,000 crore in Gross Written Premium (GWP) by FY28, has done Rs 20,400 crore in the last year (FY26), he said adding, “We hope to do Rs 24,000 crore in FY27.”
“We are expanding into the smaller towns and villages and we hope to reach Rs 30,000 crore by FY28. With better customer experience and better claims experience in partnership with hospitals, we hope to achieve this goal,” Roy said.
The retail health segment contributed almost 96 per cent of the company’s business, with four per cent coming from group portfolio, he said.
In FY26, the company settled claims worth Rs 1,254 crore covering 1.8 lakh claims in Andhra Pradesh and Telangana region, compared with Rs 1,014 crore in FY25, reflecting a 24 per cent year-on-year increase.
The company has also strengthened its presence in the region, with regional GWP growing from Rs 1,928 crore in FY25 to Rs 2,268 crore in FY26, while the number of policies increased from 8.8 lakh to 9.4 lakh.
He further said almost 10 per cent of the company’s business was contributed by Andhra Pradesh and Telangana.
“We expect it to go up to 12 to 15 per cent in the next three to four years,” Roy said.
At the national level, Star Health settled claims worth Rs 11,903 crore covering 30.6 lakh claims in FY26.
Since inception, the company has settled claims worth Rs 67,800 crore plus covering more than 1.5 crore claims, supported by a 92 per cent retail claims settlement ratio, 84 per cent cashless claims settlement and 92 per cent cashless claims processed within three hours, Roy added.
