Star Health eyes ₹20,000-crore premium in the current fiscal

Star Health & Allied Insurance, India's largest standalone health insurer, is readying to enter the life insurance space. MD & CEO Anand Roy tells Narayanan V, that the target premium for FY26 is ₹20,000 crore. Moreover, the company will deepen its presence in Tier II and III cities. Excerpts:

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Star Health & Allied Insurance, India's largest standalone health insurer, is readying to enter the life insurance space. MD & CEO Anand Roy tells Narayanan V, that the target premium for FY26 is ₹20,000 crore. Moreover, the company will deepen its presence in Tier II and III cities. Excerpts:

What is the progress on your goal of ₹30,000 crore in gross written premium (GWP) in FY28?

We closed the last financial year with ₹17,500 crore in GWP, growing at around 15%. Of this, about 95% came from retail health and 5% from group health. We had earlier guided that we would double the premium to ₹30,000 crore by FY28. To get there, we need to grow at 18% year-on-year. For the current fiscal, we have set a premium target of ₹20,000 crore. While we have made some corrections in our corporate business, our retail plans remain on track. We are focusing on deepening our presence in Tier II and III cities and expanding our agency force and distribution network. The ₹30,000-crore GWP goal by FY28 remains.

But health insurance premium growth remains muted...