Star Health & Allied Insurance Co. Ltd. · NSE:STARHEALTH
Star Health & Allied Insurance — 9MFY25 Earnings Presentation
19 slides from Star Health & Allied Insurance's earnings presentation, Jan 30, 2025
Slide 1: Exchange filing cover letter: Earnings Call Presentation Q3 & 9M FY2025
Date: January 30, 2025 Place: Chennai Ref: SHAI/B & S/SE/185/2024-25 To, To, The Manager, The Manager, Listing Department, Listing Department, BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Tower, Exchange Plaza, 5th Floor, Plot C/1, Dalal Street, G Block, Bandra-Kurla Com
Slide 2: Investor Presentation 9MFY25
Investor Presentation 9MFY25 Jan 2025
Slide 3: Key Pillars of our Strategy
Key Pillars of our Strategy 32.2% 56.1% 1 Leadership in Retail Health Retail Health Insurance Retail Health Market Share Market Share among SAHIs 761k Agents; 39% 2 Well Spread Distribution Network 910 Branches Fresh Business from Non-agency 70% 7% 3 Investment in Technology Digital Premium Collecti
Slide 4: Key Performance Indicators (1/2)
Key Performance Indicators (1/2) Particulars Fiscal Year Ended March 31 9 Months Ended December 31 (INR Crore, unless otherwise stated) 2023 2024 2023 2024 GWP 12,952 15,254 10,286 11,643** Period-on-period growth of GWP 13% 18% 18% 13% Retail Health Renewal Premium Ratio 95% 98% 98.2% 94% Number of
Slide 5: Key Performance Indicators (2/2)
Key Performance Indicators (2/2) For 9MFY25, Profit After Tax (PAT) Claims, Expense and Combined Ratio Without 1/n (INR billion) 101.3% 8.5 98.3% 101.8% CoR 95.3% 96.7% 7.0 6.2 6.5 Claims Ratio 65.0% 66.4% 67.3% 70.7% 30.6% Expense Ratio 30.3% 30.3% 31.0% 31.2% Expense Ratio FY23 FY24 9MFY24 9MFY25
Slide 6: Agenda
Agenda Our Strategy Performance Update
Slide 7: Leadership in Attractive Retail Segment
Leadership in Attractive Retail Segment Retail Health Market Share Gross Written Premium (INR billion) 354 422 287 328 153 34% 33% 33% 32% 130 116 103 142 121 107 96 8 11 7 9 0.4 FY23 FY24 9MFY24 9MFY25 FY23 FY24 9MFY24 9MFY25 Retail Health Industry Size in INR billion Retail Health, Travel & PA Gro
Slide 8: Largest & Well Spread Distribution Network
Largest & Well Spread Distribution Network Total Agency Force Sponsored Health Agency Force In 000’s 701 760 118 626 111 550 79 92 FY22 FY23 FY24 9MFY25 FY22 FY23 FY24 9MFY25 Channel wise mix, 9MFY25* Extensive Branch Network Corporate Digital 4% 7% Banca 7% 807 835 881 910 FY22 FY23 FY24 9MFY25 Ind
Slide 9: Extensive Footprint in Alternate Distribution Channels
Extensive Footprint in Alternate Distribution Channels Partner Integration 11% Overall Banca Growth 69 Banca + NBFC tie-ups With effect from Oct 01,2024, Long Term Products are accounted on 1/n basis, as mandated by IRDAI
Slide 10: Continued Focus on Digital Growth
Continued Focus on Digital Growth 22% 70% 154k Fresh Digital Digital premium Wellness Growth collection Enrollments 8.6M+ 1Mn+ Play store rating Customer App 4.5 Monthly Active App store rating downloads User (Dec-24) 4.6 With effect from Oct 01,2024, Long Term Products are accounted on 1/n basis, a
Slide 11: Diversified & Specialized Product Suite
Diversified & Specialized Product Suite Star Cancer Care Policy Star Senior Citizens Red Carpet Health Insurance Policy Star Cardiac Care Policy Young Star Policy Star Diabetes Safe Policy Women Care Policy Retail Premium Mix for Specialized Products 15.5% 14.2% 14.7% 13.7% FY23 FY24 9MFY24 9MFY25 W
Slide 12: Strong Domain Expertise Driving Superior Claims Ratio
Strong Domain Expertise Driving Superior Claims Ratio Net Incurred Claims Ratio Increasing Sum Assured Growth of Average Sum Assured in Retail Health policies 70.7% 65.0% 66.5% 67.3% 11% 10% 10% 10% FY23 FY24 9MFY24 9MFY25 FY24 9MFY25 New Overall Net incurred claims ratio is defined as net incurred
Slide 13: Retail & Group Claims Ratio
Retail & Group Claims Ratio Retail Claims Ratio Group Claims Ratio 90.4% 66.7% 69.2% 77.3% 9MFY24 9MFY25 9MFY24 9MFY25 Net incurred Loss ratio is defined as net incurred claims divided by net earned premium. All numbers are basis 1/365 URR method. 0.6% of PHC, telemedicine, OPD and wellness initiati
Slide 14: Extensive Claims Processing and Network Negotiation
Extensive Claims Processing and Network Negotiation ANH(2) Share… 12.1m Proportion of total cashless claims 96% No of Claims Settled since Cashless Inception(1) processing < 3 hr 74% 77% 67% 69% 540bn 14k+ Amount of Claims settled since Network Inception(1) FY23 FY24 9MFY24 9MFY25 Hospitals Note: (1
Slide 15: Agenda
Agenda Our Strategy Performance Update
Slide 16: Financial Performance
Financial Performance For 9MFY25, Combined Ratio Without 1/n Opex/GWP Ratio 101.3% 96.7% 98.3% 101.8% CoR 95.3% Claims Ratio 65.0% 66.5% 67.3% 70.7% 15.9% 15.7% 16.9% 15.9% 30.6% Expense Expense Ratio 30.3% 30.2% 31.0% 31.2% Ratio FY23 FY24 9MFY24 9MFY25 FY23 FY24 9MFY24 9MFY25 Profit Before Tax (PB
Slide 17: Robust Investment Performance
Robust Investment Performance Total Investments Assets Investment Income INR billion Investment Leverage INR billion 2.4x 2.4x 200 2.3x 2.3x 2.5 2.0 150 1.5 100 10.8 155 167 1.0 10.0 134 144 8.3 7.9 50 0.5 0 0.0 FY23 FY24 9MFY24 9MFY25 FY23 FY24 9MFY24 9MFY25 Steady Returns... …with fixed income por
Slide 18: Thank You
THANK YOU STAR =
Slide 19: Glossary
Glossary Particulars FY Financial Year GWP Gross Written Premium GEP Gross Earned Premium CAGR Cumulative Annual Growth Rate Y-o-Y Year-on-Year URR Unexpired Risk Reserve ANH Agreed Network Hospitals PA Personal Accident SME Small and Medium Enterprises CoR Combined Ratio TAT Turn Around Time
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