·         Senior Citizen Policies issued cover 30 lakh active members across India

·         First to introduce specially designed plans for individuals aged 60 and above, with no pre-insurance medical tests required

·         Coverage now includes home healthcare services, outpatient consultations, and post-hospitalisation support to meet evolving senior healthcare needs.

·         Elder Care Program offers a comprehensive service, designed to support elders in every aspect of their lives

Bengaluru, August 21, 2025: On the occasion of World Senior Citizens Day, Star Health and Allied Insurance Company Limited (Star Health Insurance), India’s largest standalone health insurance provider, today announced a significant milestone in senior citizen healthcare protection, having successfully covered 30 lakh active senior citizens lives and settled claims worth over Rs. 11,500 crore over the past 18 years. It also celebrates its flagship Senior Citizen Red Carpet Policy, the industry-first health insurance specially designed for individuals aged 60 and over.

The Senior Citizen Red Carpet Policy was launched in 2007, and was one of the first in India to address the specific healthcare needs of those aged 60 and above. In a country where over 11 percent individuals are now senior citizens, Star Health has played a meaningful role in providing financial protection for health-related expenses for senior citizen during later years in life.

The Company offers coverage for senior citizens across products namely Star Senior Citizen Red Carpet, Star Health Assure, Star Health Super Star, Star Comprehensive Insurance and Star Family Health Optima. An Elder Care program is available with Star Flexi a multi-rider add-on, which offers a comprehensive service, designed to support elders in every aspect of their lives. From managing emergencies and healthcare needs to participating in daily live engaging events and receiving concierge support for daily errands & host of other services. These claims range from planned surgeries and chronic illness treatments to emergency hospitalisations, reflecting the wide spectrum of healthcare needs in later life. With a wide network of over 14,500+ hospitals offering cashless treatment, and a simplified on boarding process, the company has helped ease access to quality healthcare for older adults across both metros and smaller towns.

In a country where a large portion of seniors live with at least one chronic condition and healthcare expenses for the elderly are significantly higher, Star Health plans offers more than just financial coverage; it offers confidence and lifelong insurance benefits. With flexible sum insured options and a comprehensive set of benefits, including anywhere cashless facility, home healthcare services, outpatient consultations, and post-hospitalisation support, the policy is designed to empower seniors. The inclusion of home healthcare services under select plans is especially relevant today, enabling medical care such as nursing support, doctor visits, and physiotherapy to be delivered right at home. This is particularly beneficial for seniors recovering from illness or surgery, ensuring continuity of care without the strain of frequent hospital visits.

Expressing his gratitude on World Senior Citizens Day, Anand Roy, MD & CEO, Star Health and Allied Insurance said, “World Senior Citizens Day is a reminder of the respect and care we owe our elderly. At Star Health Insurance, we believe health insurance for seniors should offer more than coverage. It should provide confidence, dignity, and peace of mind. Our Senior Citizens plans are created with that purpose in mind, to make healthcare in later years accessible and stress-free. We have shaped it by listening to what matters most to seniors: timely support, simplicity, and trust. 

Key Features of the Senior Citizens Red Carpet Policy:

·         Entry age: 60 to 75 years (with lifelong renewals)

·         Sum insured options from Rs. 1 lakh to Rs. 25 lakhs

·         No pre-insurance medical screening required ( except in certain cases)

·         Covers a wide range of day care procedures

·         Home healthcare support included*

·         Outpatient consultations covered at network hospitals

·         Coverage for modern treatments and AYUSH systems (Ayurveda, Homeopathy, etc.)

·         Post-hospitalisation expenses covered (up to 7% of hospitalisation cost)

·         Second medical opinion facility available

·         Compassionate travel benefit for family during emergencies

·         Cashless hospitalisation across 14,500+ network hospitals

·         Premium payment flexibility: Quarterly, Half-yearly, Annual

·         Tax benefits under Section 80D of the Income Tax Act

With India’s senior population set to grow rapidly in the coming years, Star Health remains focused on building insurance solutions that evolve with their needs. The Company continues to invest in customer support, driven by technology, medical innovation, and last-mile accessibility to ensure that the elderly feel protected, respected, and well cared for at every stage of life.

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Mr. Amitabh Jain, Chief Operating Officer has now been elevated as Whole-time Director and designated as a Key Managerial Personnel. Mr. Jain is a seasoned professional with over 25 years of experience in financial services. He is currently serving as the Chief Operating Officer at Star Health, a position he assumed in 2023. Mr. Jain was a founding member of ICICI Lombard and brings with him a deep understanding of operational excellence and strategic growth. He holds an engineering degree, an MBA, and is a CFA charter holder.

Mr. Himanshu Walia, Chief Marketing Officer has also now been elevated as Whole-time Director and designated as a Key Managerial Personnel. Mr. Walia brings over 22 years of rich experience in the insurance sector. He has been an integral part of Star Health Insurance since 2007, serving as the Chief Marketing Officer, and has played a pivotal role in building the company’s brand and market presence. Prior to joining Star Health, he held leadership roles at ICICI Lombard and Tata AIG. Mr. Walia holds an MBA in Marketing.

The effective date of appointment for both would be the date of approval by IRDAI.

These appointments reflect the company’s focus on enhancing leadership depth and driving future growth through experienced and visionary professionals.

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Mr. Kher brings over four decades of distinguished service across international trade, industrial development, sustainable policy, and regulatory governance. A former Commerce Secretary to the Government of India and a senior officer of the Indian Administrative Service, Mr. Kher has held key leadership roles in the Ministries of Environment and Commerce, and served as a Member of the Competition Appellate Tribunal. He is widely regarded for shaping India’s Foreign Trade Policy (2015–2020), leading international trade negotiations, and championing regulatory frameworks that align with global standards. His expertise continues to be sought by government bodies, global corporations, and policy think tanks across domains.

Commenting on his appointment, Mr. Rajeev Kher said, “I am deeply honoured to take on this responsibility at a time when health insurance is becoming central to India’s social and economic resilience. Star Health has been a pioneer in this space, with a strong reputation for customer focus, innovation, and execution. I look forward to working closely with the Board and management to strengthen governance, drive long-term value, and steer the company through the evolving landscape of healthcare and insurance. Our focus will remain firmly on inclusive growth, ethical leadership, and institutional excellence.”

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·     Total number of policies sold grew by 8%

Bengaluru, January 28, 2025: Star Health and Allied Insurance Company Limited (Star Health Insurance), India’s largest retail health insurance company, today announced its financial results for the nine months ended December 31, 2024 (9MFY25). The company reported a Profit After Tax (PAT) of Rs. 645 crores, supported by steady growth across business segments, innovative product offerings, and strong commitment to customer-centric service.

Anand Roy, MD and CEO of Star Health and Allied Insurance stated, “At Star Health, We continue to evolve as a health insurance provider by listening closely to our customers and shaping solutions that meet their evolving needs. Our steady growth across key business areas highlights the trust we have earned and our agility in adapting to a dynamic industry landscape. By leveraging technology and fostering strong partnerships, we aim to make health insurance easy and accessible for every individual. We continue to bridge the insurance gap in the country, contributing to IRDAI Chairman’s vision of Insurance for All by 2047, while supporting India’s progress in healthcare and strengthening the overall health insurance ecosystem.

Star Health posted consistent financial and operational performance in 9MFY25. The company’s combined ratio stood at 101.8%, and its claims ratio stood at 70.66%, both improved sequentially. The Expense Ratio stood at 31.18%. The Company’s financial performance is supported by robust growth in its investment income, to Rs. 996 crore in 9MFY25, while the company’s investment assets grew by 15%, totaling Rs. 16,666 crore. With a solvency ratio of 2.22x, well above the regulatory requirement of 1.5x, Star Health continues to demonstrate financial stability and the ability to support its growing policyholder base.

Star Health continues to expand its distribution network and strengthen its performance across its business drivers. Its agent network has grown to 761k, with a net addition of 19k agents in Q3FY25 and 66k in 9MFY25. Bancassurance partnerships increased to 69 in Q3FY25.

The company’s focus on customer satisfaction remains strong. App downloads reached 8.6 million, with over 1 million monthly active users. Additionally, digital issuance accounted for 70% of premium collections in 9MFY25, up from 65% in 9MFY24.

Star Health has strengthened its position as a trusted leader in the health insurance sector through consistent growth across its key business channels. The Company remains focused on understanding customer needs, delivering quality products, and enabling greater access to healthcare and financial security for families nationwide.

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Bengaluru, 30 October 2024: Star Health and Allied Insurance Company Ltd. (Star Health Insurance), India’s largest retail health insurance company, today reported its H1-FY2025 financial results, with 17.5% increase in Gross Written Premium (GWP) to INR 7,847 crore, higher than the average industry growth. The Company posted profit after tax (PAT) of INR 430 crore in H1 FY25.

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.”

Our investment assets grew by 17.2% and reached INR 16,431 crores as on 30-Sep 2024, with an investment income of INR 354 crores. The combined ratio in Q2FY25 stood at 103% and 101% in H1 FY25; the Company’s PAT for Q2FY25 stood at INR 111 crore. The Company retained its leadership position in retail health insurance, with a market share of 32% and among SAHI players with a market share of 55.3%.

The Company focused on expanding its agency strength, posting strong agency business growth of 17% in fresh GWP in H1FY25. The agency business vertical contributed to ~80% of overall business in H1FY25 with increased agency strength at ~742k agents with recruitment of ~25k agents in Q2FY25. This growth highlights Star Health’s continued efforts to meet the evolving insurance needs across India, especially within tier 3 and tier 4 cities and towns.

The Bancassurance business, which includes banks, NBFCs and alternate channels, witnessed fresh GWP growth of 25%. In the Corporate business, the Company recalibrated its corporate business strategy and witnessed significant growth on a low base. The digital business comprised of direct-to-customer, online brokers and web aggregators has also shown strong growth in fresh business of over 41% in H1FY25.

For H1FY25, the operating expense to GWP ratio stood at 15.6%, reflecting effective cost control compared to 17% in H1FY24 with an Expense Ratio at 30.8%. The solvency ratio also remained strong at 2.24x, exceeding the regulatory minimum requirement of 1.5x.

Star Health’s vast distribution network—including digital channels, bancassurance partnerships, agents, brokers and web aggregators—continues to expand. The Company’s hospital network has grown to over 14,000+ hospitals across India, with branch offices reaching 902 as of September 30, 2024. Star Health remains focused on growth through strategic partnerships and retail-centric initiatives, reinforcing its commitment to rapidly stepping up to provide health insurance solutions nationwide.

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