Star Health and Allied Insurance Company Ltd - 543412 - Announcement under Regulation 30 (LODR)-Retirement
Star Health And Allied Insurance Company Limited has informed the Exchange about Early Retirement of Dr. Sriharsha Anant Achar as the Chief Human Resource Officer & Key Managerial Personnel of the Company w.e.f July 31, 2024. Q4FY24 Quarterly & FY24 Annual Result Announced for Star Health and Allied Insurance Company Ltd.
General Insurance company Star Health and Allied Insurance Company announced Q4FY24 & FY24 results: Financial Highlights: - Profit After Tax (PAT): Star Health recorded a stellar PAT of Rs 845 crore in FY24, marking a significant 37% increase from the previous fiscal year. - Gross Written Premium (GWP): The GWP saw an 18% rise, reaching Rs 15,254 crore in FY24, indicating robust growth in the company's core business operations. - Q4 Performance: For Q4FY24, PAT stood at Rs 142 crore, a 40% YoY increase, with GWP growing by 18% to Rs 4,968 crore for the same quarter. - Combined Ratio: The financial year concluded with a combined ratio of 96.7% and improved to 92.7% in Q4FY24. - Claim Ratio: The FY24 claim ratio was 66.5%, with a Q4 claim ratio at 64.1%. Operational Performance - Market Share: In the retail health insurance segment, Star Health maintained its dominant position with a 33% market share. Its market share among general insurance companies rose modestly by 22 basis points to 5.26%. - Expense of Management Ratio: The company efficiently kept this ratio at 30.7%, below the 35% regulatory requirement. - Cashless Claims: An enhancement in cashless claims payout was observed, with 87% in FY24 compared to 80% in FY23. Expansion and Growth - Distribution Network: The addition of 16,000 agents in Q4FY24 and a total of 75,000 in FY24 expanded the agent count to 7,01,000. - Phygital Presence: Strategic increments to the company's physical and digital presence include 881 branches and 14,295 network hospitals. Commenting on the results Anand Roy, MD & CEO of Star Health Insurance said, "We at Star Health made a conscious journey of putting risk-first and growth later, which helped us in carving a path towards sustainable secular growth. We have yet again delivered record profits, which reflects our financial strength and stability, and underscores our competitive advantage and customer-centric approach. Our results demonstrate strengthened fundamentals through our sharpened focus on innovative product offerings and sound claim settlement process. Continuing to consolidate our market leadership, we are now shifting gears towards accelerating growth with profit. Our steady expansion in both volume and profit, showcases the strength of our customer's continued trust in us. We delivered robust growth across all our channels, including agency, bancassurance, and digital. This well positions us to rapidly scale up our business towards a sustained accelerated growth trajectory." Result PDF Star Health and Allied Insurance Company Ltd - 543412 - Press Release
Star Health And Allied Insurance Company Limited has informed the Exchange about Press Release dated April 30, 2024. Star Health and Allied Insurance Company Ltd - 543412 - Star Health And Allied Insurance Company Limited Has Informed The Exchange Regarding Outcome Of Board Meeting Held On April 30, 2024.
Star Health and Allied Insurance Company Limited has informed the Exchange about the outcome of Board Meeting held on April 30, 2024. Star Health and Allied Insurance Company Ltd - 543412 - Board Meeting Outcome for Star Health And Allied Insurance Company Limited Has Informed The Exchange Regarding Outcome Of Board Meeting Held On April 30, 2024.
Star Health and Allied Insurance Company Limited has informed the Exchange regarding Board meeting held on April 30, 2024 for declaration of the Audited Standalone Financial Results of the Company for the quarter and year ended March 31, 2024. Star Health and Allied Insurance Company Ltd - 543412 - Announcement under Regulation 30 (LODR)-Resignation of Director
Star Health And Allied Insurance Company Limited has informed the Exchange regarding Resignation of Mr. Berjis Minoo Desai as Non- Executive Independent Director of the Company w.e.f. April 23, 2024. Star Health and Allied Insurance Company Ltd - 543412 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Star Health And Allied Insurance Company Limited has informed the Exchange about Q4 & FY 2024 Earnings Call meeting dated 30th April, 2024. Star Health and Allied Insurance Company Ltd - 543412 - Board Meeting Intimation for Board Meeting Intimation For Consider And Approve The Standalone Audited Financial Results Of The Company For The Quarter And Year Ended March 31, 2024.
Star Health And Allied Insurance Company Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/04/2024 ,inter alia, to consider and approve Star Health And Allied Insurance Company Limited has informed the Exchange about Board Meeting to be held on April 30, 2024 inter alia to consider and approve the standalone audited financial results of the company for the quarter and year ended March 31, 2024. Star Health and Allied Insurance Company Ltd - 543412 - Announcement under Regulation 30 (LODR)-Credit Rating
Star Health And Allied Insurance Company Limited has informed the Exchange about Revision of Credit Rating. Star Health and Allied Insurance Company Ltd - 543412 - Compliance Certificate As Per Regulation 40(9) And 40(10) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015.
Star Health And Allied Insurance Company Limited has informed the Exchange about submission of Compliance Certificate as per Regulation 40(9) and 40(10) of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 for the year ended March 31, 2024.