Star Health and Allied Insurance Company Ltd.
FY23 Annual Result Announced for Star Health and Allied Insurance Company Ltd.
Star Health and Allied Insurance Company announced FY23 results:
- Registers a net profit of Rs 619 crore for FY23
- Company delivers combined ratio of 95.3% for FY23
- Gross Written Premium of Rs 12,952 crore in FY23
- Appoints Anand Roy as the Chief Executive Officer and Managing Director
Anand Roy, newly appointed Chief Executive Officer and Managing Director of Star Health and Allied Insurance Company said, “I am extremely humbled and also excited about my new role at Star Health. It is indeed a privilege and honour to lead this great organisation into its next phase of success. FY 22-23 has been a good year for us where we saw steady growth q-o-q. We focused on improving our retail market share, lowering our combined operating ratio, growing our channel partners and agent network. The year saw us launch a couple of innovative products which were well received by customers across the country. Our growth strategy also focused on strengthening our presence through branches and increasing our network hospital presence for better customer service. Our combined ratio for FY23 improved to 95.3% versus 117.9% for FY22.”
“Retail health insurance will remain our primary focus for the years ahead. We continue to invest heavily in enhancing our customer experience through product innovation and digitalization. The brand of Star Health is well entrenched in all parts of our country. We will keep identifying new opportunities for growth and expansion and contribute to increasing the penetration of health insurance in India”, added Mr. Roy.