IPO News

10 things to know about Star Health and Allied Insurance Company Limited



Posted On : 2021-11-29 00:03:19( TIMEZONE : IST )

  1. Star Health and Allied Insurance Company Limited is the largest private health insurance company and the largest retail health insurance company in India by health GWP, with a 15.8% overall health insurance market share and a 31.3% retail health insurance market share in fiscal 2021, according to CRISIL Research.
  2. Company has been consistently ranked first in the retail health insurance market in India based on retail health GWP over the last three fiscal years. Retail health GWP was over three times the GWP of the next highest retail health insurance market participant in fiscal 2021, according to CRISIL Research.
  3. Company's comprehensive health insurance product suite insured 20.5 million lives in fiscal 2021 in retail health and group health, which accounted for 89.3% and 10.7%, respectively, of our total health GWP in fiscal 2021.
  4. Company is strategically focused on the retail health market segment and had retail health GWP of Rs. 8,215.09 crores and Rs. 4,339.92 crores in fiscal 2021 and the six months ended September 30, 2021, respectively.
  5. From being the first standalone health insurance ("SAHI") company established in India in 2006, it has grown into the largest SAHI insurer in India and the only SAHI Company among the top five health insurance businesses in India in fiscal 2021.
  6. As of March 31, 2021, the company had the largest number of individual agents among SAHI insurers, at approximately three times that of the SAHI Company with the next highest number of agents, according to CRISIL Research.
  7. Company has led the non-public health insurance market in terms of number of new branch openings since fiscal 2018. Its branch network was over two and a half times the number of the next largest non-public health insurance provider as of March 31, 2021, according to CRISIL Research.
  8. Company has successfully built one of the largest health insurance hospital networks in India, with 11,778 hospitals as of September 30, 2021. Out of the total number of hospitals in its network, company has entered into pre-agreed arrangements with 7,741 hospitals, or 65.7%, of the total number of hospitals in network as of September 30, 2021.
  9. Company's distribution network includes the largest branch network among non-public health insurance providers in India, as of December 31, 2020, which as of September 30, 2021 included 779 health insurance branches spread across 25 states and 5 union territories in India as of September 30, 2021.
  10. Company processed 0.33 million and 0.25 million claims and in fiscal 2021 and the six months ended September 30, 2021 respectively or 55.0% and 62.0%, respectively of its total number of cashless claims, through our agreed network hospitals.

Source : Equity Bulls

Keywords

StarHealth IPO 10Things HealthInsurance RetailHealthInsurance MarketShare