STAR HEALTH AND ALLIED INSURANCE COMPANY LTD Q1 RESULTS
Gross written premiums of general insurers up 13.3% in Q1
India's general insurance sector saw strong growth with an 8.76% increase in premiums for June and a 13.33% rise for the first quarter, driven by higher demand for motor and health insurance. Companies like ICICI Lombard and Star Health Insurance reported significant gains, especially in retail health and motor segments. However, New India Assurance faced slower growth, losing market share. Overall, the industry's gross premiums reached ₹72,757 crore, reflecting steady expansion and shifting consumer preferences towards comprehensive insurance coverage.
Insurers likely to report robust growth amid market tailwinds
APE growth in private insurers, driven by buoyant equity markets, faces VNB margin pressure from ULIPs and group pricing. Q1FY24 growth slowed due to high-value policy sales before tax changes. LIC shows 15% APE growth. HDFC Life (17-18% APE), ICICI Prudential Life (40% APE), SBI Life (18% APE), and Max Life Insurance (19% APE) report strong growth.
Indian financiers’ debt lures buyers on widest spread since 2020
Investors are wary of funding strains affecting the rapid economic growth in India, despite enticing opportunities in shadow lender bonds. The concern lies in the widening spreads and the potential hurdles that could impede the country's impressive growth trajectory.
Is your medical claim stuck? Find out why you face problems in health insurance claim settlement and how to avoid them
While health insurers can sometimes be blamed putting customers through unending hardship in clearing claims, many a times it’s the policyholder who is at fault. A significant portion of these health insurance claim rejections can be prevented by asking the right questions during policy selection, carefully reviewing policy documents, and conducting thorough research. This article explores common health insurance claim rejection scenarios and explains how to avoid them.
Star Health looking to grow 18%, improve claims ratio by 50 bps: Anand Roy, CEO
Star Health & Allied Insurance expects 18-20% growth in gross written premiums this year, aiming to double premium income in four years. CEO Anand Roy discussed the company's strategies with Shilpy Sinha.
Q4 results: Stable costs boost India Inc. profits
Steady costs and firm domestic demand supported corporate performance in the March quarter.
Go Digit shares rally 10% after reporting Q4 PAT soars 104% YoY
Go Digit General Insurance shares surged 10% to a record high of Rs 372.35 after reporting robust Q4 results. PAT soared 104% YoY to Rs 53 crore. Q4 gross written premium rose nearly 19% YoY to Rs 2,336 crore. FY net profit jumped 405% to Rs 182 crore, with gross written premium up 24.5% YoY to Rs 9,016 crore.
Go Digit Q4 Results: PAT jumps 104% YoY to Rs 53 crore; gross written premium up 19%
The net profit stood at Rs 182 crore for the full financial year as against Rs 36 crore in FY23, recording a 405% jump. The gross written premium for the full financial year stood at 9,016 crore versus Rs 7,243 crore in FY23.
NHCX, a single portal for all health insurance claims soon: what is the claims process, benefits to policyholders
The digital platform, to be launched in 2-3 months, will speed up and standardise claim settlement process, leading to cost benefits for the insured.
Apis, Madison and ROC Capital sell Star Health shares worth Rs 2,210 core
Apis Partners held a 2.61% stake via Apis Growth 6, Madison Capital via Mio Star held 2.21% and Mio IV Star held 2.39%, and ROC Capital owned 1.01%, as of March 2024. Mio IV Star, ROC Capital and Apis Partners liquidated their entire stakes in the deal.
Aditya Birla Capital Q4 Results: Net profit doubles to Rs 1,245 crore
Aditya Birla Capital on Monday reported a two-fold rise in profit to Rs 1,245 crore on a consolidated basis for the fourth quarter ended March 2024. The company posted a net profit of Rs 609 crore in the same period a year ago.
PB Fintech Q4 Results: Policybazaar parent reports PAT of Rs 60 crore vs loss of Rs 9.34 crore YoY
PB Fintech Q4 Results: The consolidated revenue for the reporting quarter stood at Rs 1089.57 crore, which was up 25.36% over Rs 869.10 crore reported in the year-ago period. For FY24, the PAT improved from a loss of Rs 488 crore to a profit of Rs 64 crore.
Galaxy Health gets nod to launch health insurance business, IRDAI also okays setting up of insurance e-marketplace
IRDAI approved Galaxy Health led by V Jagannathan. Star Health had a Rs 618 crore net profit. IRDAI introduced Bima Sugam, likened to ONDC by Debasish Panda, for insurance activities.
ICICI Prudential MF buys Star Health's shares for Rs 193 crore
ICICI Prudential Mutual Fund on Tuesday bought shares of Star Health and Allied Insurance Company for Rs 193 crore through an open market transaction.
Buy Star Health and Allied Insurance Company, target price Rs 730: Motilal Oswal
Star Health and Allied Insurance Company Ltd., incorporated in the year 2005, is a Large Cap company (having a market cap of Rs 33154.57 Crore) operating in Financial Services sector.
From Star to Galaxy: Jagannathan, 79, to start new health insurance venture
V. Jagannathan, the founder of Star Health and Allied Insurance Company, is launching a new venture in the health insurance sector called Galaxy Health. At 79 years old, he has applied for a preliminary license with the insurance regulator to establish the new company. Jagannathan is reportedly in talks with the TVS Group for potential equity participation in the venture, having previously partnered with the ETA Star Group.
Will ensure the biz we are underwriting continues to be profitable: Nilesh Kambli, Star Health & Allied Insurance
In the month of November, December and Jan, the loss ratio is trending really well. Historically, quarter 4 is the best quarter when it comes to loss ratio. We are confident that, we should be able to bring down the loss ratio for Q4 and for the full year.
Founder of Star Health in talks with TVS Group for new health insurance venture
The TVS Group, based in Chennai, has a history in the insurance domain, having previously owned Madras Motor and General Insurance before the industry's nationalization. After nationalization, Madras Motor merged into United India Insurance.
Jhunjhunwala stock from insurance space falls over 5% post Q2 results
Meanwhile, its gross written premium increased to Rs 3,732 crore during the quarter as against Rs 3,193 crore a year ago.
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