Star Health Insurance Sets Ambitious Growth Targets for Bengal Market
Star Health Insurance has announced a robust growth projection for its operations in West Bengal, expecting a significant 25% increase in the current fiscal year. The company has laid out an ambitious target to achieve a premium collection of Rs 1,250 crore from the state by the financial year 2026-27.
Record-Breaking Performance and Market Leadership
Anand Roy, the Managing Director and CEO of Star Health Insurance, revealed that the company registered a premium of Rs 1,000 crore in Bengal during the 2025-26 fiscal year. This milestone marks the first time the insurer has crossed the four-digit premium mark in the state, signaling strong market penetration and customer trust.
Nationally, Star Health holds a commanding 32% market share in the retail health insurance segment, which is the highest among all health insurers in India. The company's total premium income for the 2025-26 financial year stood at an impressive Rs 20,370 crore across the country.
Bengal: A Healthy and Profitable Market
Roy highlighted that Bengal represents a particularly healthy market for the insurer. The national claim ratio for the company is 70%, while in Bengal, it is notably lower at 65%. "Bengal, we can say, is a very healthy market. Only last year, there was some spurt in claims due to infectious diseases," Roy explained, indicating the region's overall favorable risk profile.
In terms of market dominance within the state, Star Health boasts a 36% share in the retail health insurance sector. The company has established an extensive network to support its operations, including 600 network hospitals for cashless claim settlements and over 50,000 agents across Bengal.
Strong Operational Metrics and Customer Retention
The insurer's performance in Bengal is further underscored by its claim settlement record. In the 2025-26 fiscal year, Star Health settled claims worth Rs 600 crore in the state, demonstrating its commitment to customer service and financial reliability.
Atin Roy, the business head of Star Health, provided additional insights into the company's national performance metrics. The renewal ratio by value stands at an exceptional 99% nationally, while the renewal ratio by policy is 88%. These figures reflect high customer satisfaction and loyalty, which are critical drivers for sustained growth.
Strategic Expansion and Future Outlook
With its strong market position, extensive network, and favorable claim ratios, Star Health Insurance is well-positioned to achieve its growth targets in Bengal. The company's focus on expanding its agent base and hospital partnerships is expected to further solidify its leadership in the region's health insurance landscape.
The projected 25% growth rate and the Rs 1,250 crore premium target for 2026-27 highlight Star Health's confidence in the Bengal market's potential. As the health insurance sector continues to evolve, the company's strategic initiatives aim to capture a larger share of the growing demand for comprehensive health coverage in the state.
