Star Health & Allied Insurance Company declined 2.86% to Rs 520.45 after the company's net profit tumbled 11.18% to Rs 111.29 crore on 17.14% increase in gross premium written to Rs 4,371.30 crore in Q2 FY25 over Q2 FY24.
Profit before tax for Q2 FY25 dropped to Rs 148.80 crore, down 10.96% from Rs 148.80 crore in Q2 FY24.
Total expenses gained 18.71% to Rs 3,898.58 crore in Q2 FY25 over Q2 FY24. Net commission was at Rs 548.86 crore (up 12.73% YoY) while other expense stood at Rs 156.40 crore (up 15.68% YoY) during the period under review.
Anand Roy, MD and CEO of Star Health and Allied Insurance stated, "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.
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 underserved markets.
Star Health Insurance is a standalone health insurer, offering a variety of products including health, personal accident, and travel insurance. The company has a strong distribution network and have settled over 1 crore claims. In FY24, they reported a gross written premium of Rs 15,254 crore and a net worth of Rs 6,339 crore.
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