For H1 FY22, this ratio stood at 88.2 percent as compared to 60.3 percent in H1 FY21.Ĭovid-19 pandemic was one of the key reasons for the company reporting an operating loss of Rs 1,071.2cr in FY21 as compared to a profit of Rs.
Of the net paid claims for the company, 30 percent of the claims were due to the pandemic which increased further to 41 percent as the severity of pandemic increased with the second wave.Ĭonsequently, the net incurred claims ratio increased from 64.2 percent and 65.8 percent in FY19 and FY20, respectively to 87 percent in FY21. The company’s performance has been severely impacted by COVID-19 which has resulted into higher claims and deterioration of the solvency ratio for the company.ĬOVID related insurance claims almost doubled compared to the non COVID claims. Also, higher health care costs will push people to go for health insurance going forward.7) Financials The penetration of health insurance in India is still one of the lowest in the world and only 10 percent of the population has insurance policies outside of government plans. The retail health insurance will be a key growth driver for the health insurance industry in India especially after the COVID pandemic. The retail health and group health accounted for 87.9 percent and 10.5 percent of its total GWP in FY21. The company offers a range of flexible and comprehensive coverage options primarily for retail health, group health, personal accident and overseas travel.
In FY21 and first half of FY22, it had total gross written premium (GWP) of Rs 9,348.95 crore and Rs 5,069.78 crore, respectively. Star Health with a market share of 15.8 percent is the largest private health insurer in the Indian health insurance market, as per a report from CRISIL Research. Retail investors can invest a minimum of Rs 14,400 for a single lot, and their maximum investment would be Rs 1,87,200 for 13 lots (208 equity shares).6) Company Profile and Industry Investors can bid for a minimum of 16 equity shares and in multiples of 16 shares thereafter. Star Health is going to utilize net proceeds from fresh issues towards augmentation of its capital base and maintenance of solvency levels.5) Lot Size and Investor’s Reserved Portion The anchor book, if any, may open for a day on November 29, a day before the opening of the IPO.4) Objectives of Issue The offer includes a reservation of shares worth Rs 100 crore for the company's employees. Unlocking opportunities in Metal and Miningįurther, ROC Capital Pty Limited will sell 25,09,099 equity shares, Venkatasamy Jagannathan 10 lakh equity shares, Sai Satish 5 lakh shares, and Berjis Minoo Desai will offload 1.44 lakh equity shares.Sustainability 100+ Pharma Industry Conclave.Headwinds and Tailwinds Hitachi Social Innovation.Life Insurance Made Simple Future Of Mobility.Interview Series Business In The Week Ahead.
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