- Insurance
- 1 min read
Star Health reports 40% growth in Q4 profit after tax
The standalone health insurer’s gross written premium (GWP) rose to Rs 15,254 crore in FY24, an 18% increase when compared with the previous year of FY23.CHENNAI: Star Health and Allied Insurance Company Ltd reported 40% growth in profit after tax (PAT) at Rs 142 crore in the quarter ended March 31, 2024 against Rs 102 crore in the corresponding quarter of 2022-23.
The standalone health insurer’s gross written premium (GWP) rose to Rs 15,254 crore in FY24, an 18% increase when compared with the previous year of FY23.
The growth in GWP was due to strong retail health insurance demand, the company said in a statement.
The company continued to maintain its leadership in the retail health insurance sector with a 33% market share, it added.
Anand Roy, MD & CEO of Star Health Insurance, said, “Our results demonstrate strengthened fundamentals through our sharpened focus on innovative product offerings and sound claim settlement process.”
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