Star Health Aims to Double Premiums to Rs 30,000 Crore by FY28

Star Health and Allied Insurance Company Ltd. plans to double its Gross Written Premium to Rs 30,000 crore within the next four years. The company aims to grow faster than the industry, leveraging deeper market penetration and digital technology, especially in tier II and III cities.

Standalone health insurer Star Health and Allied Insurance Company Ltd. has set an ambitious target to double its Gross Written Premium to approximately Rs 30,000 crore over the next four years, a senior official revealed on Wednesday.

The Chennai-based company recorded a GWP of Rs 15,254 crore for FY24, posting a profit after tax of Rs 845 crore—up by 37% from the previous fiscal year, according to Managing Director and CEO Anand Roy.

'We aim to outpace the industry's growth, targeting to double our business by FY28,' Roy said. The company's strategy includes deepening market penetration, especially into tier II and III cities, using digital technology to enhance service delivery.