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India's largest standalone health insurance company, selling individual and group health/accident policies.
India's largest standalone health insurance company, selling individual and group health/accident policies.
Earns premiums on health policies, sold mostly through its own large force of agents, and keeps what is left after claims paid to hospitals and running costs, so profit depends on pricing premiums against medical inflation. India's insurance regulator reviews products and premium increases, so repricing can lag cost changes.
In one line: India's largest pure-play health insurer, akin to a focused UnitedHealth for insurance onl.
Moat: narrow (scale, brand, distribution). Largest standalone health insurer with an extensive agent network and health-specific underwriting data.
Headquarters: Chennai, India · Founded: 2006 · Employees: 18,566
Size Star Health & Allied Insurance (STARHEALTH.NS) is an India Financials company (Life/Health Insurance) with a market value of $3.52B, the 254th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹564.75 on 6 Nov 2026.
Performance Over six months the shares gained 9.1%, against +3.5% for the median peer and 0.0% for the India market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 20.5% over the last twelve months (peer median +17.3%); the operating margin is 6.1% (peer median 7.3%).
Valuation It trades at 3.19× book value against a peer median of 2.17× (10th most expensive of 21).
Price implies The share price implies a return on equity of about 47.7%; Star Health & Allied Insurance delivers 11.7%, so the price asks more than the business earns today.
Next results Next results expected around 2 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹199B | ₹178B | ₹161B | ₹140B | ₹121B |
| Revenue growth | — | +11% | +15% | +16% | — |
| Net income | ₹10.5B | ₹5.57B | ₹6.46B | ₹8.45B | ₹6.19B |
| Free cash flow | n/a | ₹17.5B | ₹12.5B | ₹11.5B | ₹11.5B |
| Capital expenditure | n/a | ₹781M | ₹827M | ₹1.23B | ₹466M |
| Total debt | ₹756M | ₹4.70B | ₹4.70B | ₹4.70B | ₹4.70B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Star Health & Allied Insurance STARHEALTH.NS | $3.52B | +9% | +21% | 12% | 3.19× | 47.7% |
| Niva Bupa Health Insurance NIVABUPA.NS | $1.49B | -5% | +58% | 14% | 3.66× | 33.1% |
| ICICI Lombard General Insurance ICICIGI.NS | $8.80B | -11% | +14% | 15% | 4.38× | 53.9% |
| Go Digit General Insurance GODIGIT.NS | $2.44B | -21% | +9% | 12% | 4.91× | 37.4% |
| New India Assurance NIACL.NS | $2.74B | -5% | +9% | -1% | 0.62× | 14.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | STARHEALTH.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.0% | -0.3% | 10th highest of 21 |
| 6-month return | +9.1% | +3.5% | 8th highest of 21 |
| Return on equity | 11.7% | 8.8% | 10th highest of 21 |
| Price / book | 3.19× | 2.17× | 10th most expensive of 21 |
| Trailing P/E | 31.6× | 15.9× | 5th most expensive of 20 |
| ROE the price implies | 47.7% | 16.5% | 5th most demanding of 21 |
| ROE delivered | 11.7% | 8.8% | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Star Health & Allied Insurance STARHEALTH.NS | India | $3.52B | +9% | +21% | 12% | 3.19× | 47.7% | 11.7% |
| COFCO Capital 002423.SZ | China | $3.15B | -11% | -31% | 6% | 0.85× | 6.2% | 5.6% |
| Privia Health PRVA | United States | $3.12B | +6% | +24% | 4% | 3.94× | 25.4% | 3.8% |
| Max Financial Services MFSL.NS | India | $4.68B | -25% | +18% | 3% | 7.71× | 78.7% | 3.3% |
| E-L Financial ELF.TO | Canada | $4.74B | +10% | +32% | 20% | 0.68× | 6.4% | 20.2% |
| Clover Health Investments CLOV | United States | $2.56B | +54% | +54% | -5% | 6.32× | 94.7% | -5.1% |
| Brighthouse Financial BHF | United States | $2.45B | -31% | +3% | 14% | 0.37× | 5.2% | 13.6% |
| Challenger CGF.AX | Australia | $5.59B | +36% | -25% | 13% | 2.01× | 15.8% | 13.3% |
| Hanwha Life 088350.KS | South Korea | $2.16B | -20% | +18% | 8% | 0.22× | 3.8% | 7.7% |
| ICICI Life Insurance ICICILIFE.NS | India | $6.77B | -22% | -8% | 13% | 4.67× | 65.0% | 12.6% |
| Mirae Asset Life Insurance 085620.KS | South Korea | $1.78B | +17% | +22% | 5% | 1.05× | 5.6% | 5.2% |
| St. James's Place STJ.L | United Kingdom | $7.48B | -3% | +164% | 38% | 3.64× | 43.3% | 38.4% |
| Nuernberger Beteiligungs NBG6.DE | Germany | $1.58B | +1% | -1% | 5% | 1.58× | 6.0% | 5.1% |
| Niva Bupa Health Insurance NIVABUPA.NS | India | $1.49B | -5% | +58% | 14% | 3.66× | 33.1% | 13.9% |
| Jackson Financial Incorporation JXN | United States | $8.70B | +17% | +34% | 9% | 1.10× | 12.5% | 9.5% |
| Voya Financial VOYA | United States | $8.91B | +21% | -3% | 14% | 2.34× | 17.2% | 14.3% |
| Primerica PRI | United States | $8.94B | +6% | +8% | 33% | 3.56× | 24.9% | 32.9% |
| Medibank Private MPL.AX | Australia | $9.94B | +14% | +9% | 27% | 5.90× | 23.8% | 26.8% |
| Canara HSBC Life Insurance CANHLIFE.NS | India | $1.23B | -14% | +17% | 8% | 7.08× | 48.0% | 8.2% |
| JAPAN POST INSURANCE 7181.T | Japan | $11.2B | +8% | -6% | 4% | 0.38× | 2.9% | 4.2% |
| Yunfeng Financial 0376.HK | Hong Kong | $999M | -30% | +21% | 7% | 0.60× | 7.8% | 6.7% |