Adjusted PAT beat of 24%; combined ratio better than estimates

Company
11 Mar 2024
5 Min read 
  • Star Health reported better-than-expected 3QFY24 results, with adjusted PAT beating estimates by 24%.
  •  The company plans to implement price revisions for some products, which will contribute to higher underwriting profits.
  •  Net earned premium grew 15% YoY in 3QFY24, and the retail health segment showed strong growth.
  •  The combined ratio improved to 97.8%, better than forecasts.
  •  The company has a strong market share in retail health and is focused on high-quality business.
  •  The stock has a BUY rating with a target price of INR730.
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