CARE Assigns Star Health Insurance Credit Rating of ‘AA+/Stable’

India, April 2024: Star Health and Allied Insurance Company Limited (Star Health Insurance), India’s largest retail health insurance company, has been rated ‘CARE AA+; Stable’ and ‘CARE AA: Stable’ rating for a subordinate debt amounting to INR 470 crores by CARE Ratings. Star Health and Allied Insurance Company is a leading market player in the retail health insurance space and has comfortable solvency margins and improving profitability metrics. The company has grown faster than its peers in the last 5 years.

Anand Roy, MD & CEO, Star Health Insurance said “Our centre of attention has been on sustainable long-term growth. We continue to be the leading player in the industry with a large market share. This rating is a testament to our overall performance, and it will be our constant endeavor towards improving business across all parameters. As we navigate through dynamic market conditions, our focus remains on delivering value to our customers and stakeholders”.

Current Ratings of Star Health Insurance

Care AA+/Stable

India Ratings AA/Stable