ManipalCigna Health Insurance vs Star Health Insurance: IRDAI Data Comparison
Health insurer comparison · Source: IRDAI public disclosures ·How to read this comparison
| Metric | ManipalCigna Health Insurance | Star Health Insurance | Period |
|---|---|---|---|
| Direct Business – Online policies(size) | 3001 count | -29017 count | Q1 FY26-27 / Q3 FY25-26 |
| travel segment premium(size) | 77 ₹ lakh | 222 ₹ lakh | Q1 FY26-27 |
| Web Aggregators premium(size) | 99 ₹ lakh | 245 ₹ lakh | Q1 FY26-27 |
| gross direct premium growth rate(size) | 32.0 % | 19.2 % | Q1 FY26-27 |
| Direct Business – Online premium(size) | 787 ₹ lakh | 11529 ₹ lakh | Q1 FY26-27 / Q3 FY25-26 |
| personal accident incurred claims ratio | 40.0 % | 56.1 % | Q1 FY26-27 |
| required solvency margin(size) | 57835 ₹ lakh | 365691 ₹ lakh | Q1 FY26-27 |
| profit before tax(size) | -54 ₹ crore | 469 ₹ crore | Q1 FY26-27 |
| Corporate Agents – Others policies(size) | 8775 count | 4947 count | Q1 FY26-27 |
| solvency ratio | 1.93 × | 2.09 × | Q1 FY26-27 |
| housing & infrastructure(size) | 35.0 % | 13.5 % | Q1 FY26-27 |
| underwriting balance ratio | -15.0 % | 3.0 % | Q1 FY26-27 |
| investment income ratio | 2.0 % | 1.6 % | Q1 FY26-27 |
| debt to equity ratio | 0.25 × | 0.06 × | Q1 FY26-27 |
| gross written premium(size) | 704 ₹ crore | 4287 ₹ crore | Q1 FY26-27 |
| central govt. securities(size) | 22.0 % | 25.6 % | Q1 FY26-27 |
| net commission ratio(size) | 12.0 % | 14.7 % | Q1 FY26-27 |
| health incurred claims ratio | 81.0 % | 68.1 % | Q1 FY26-27 |
| Point of Sales Person (Direct) premium(size) | 0 ₹ lakh | 1 ₹ lakh | Q1 FY26-27 |
| profit after tax(size) | -54 ₹ crore | 349 ₹ crore | Q1 FY26-27 |
| book value per share(size) | 4.61 ₹ | 134.93 ₹ | Q1 FY26-27 |
| Insurance Marketing Firm policies(size) | 1830 count | 913 count | Q1 FY26-27 |
| gross npa (amount) | 0 INR_lakhs | 0 INR_lakhs | Q1 FY26-27 |
| health segment premium(size) | 68806 ₹ lakh | 425462 ₹ lakh | Q1 FY26-27 |
| Insurance Marketing Firm premium(size) | 485 ₹ lakh | 219 ₹ lakh | Q1 FY26-27 |
| Common Service Centres (CSC) premium(size) | 0 ₹ lakh | 67 ₹ lakh | Q1 FY26-27 |
| Individual Agents premium(size) | 15638 ₹ lakh | 358240 ₹ lakh | Q1 FY26-27 |
| net retention ratio(size) | 96.0 % | 95.4 % | Q1 FY26-27 |
| personal accident segment premium(size) | 1547 ₹ lakh | 3028 ₹ lakh | Q1 FY26-27 |
| Corporate Agents – Banks policies(size) | 8894 count | 31416 count | Q1 FY26-27 |
| npa provision coverage | 0.0 % | 0.0 % | Q1 FY26-27 |
| travel combined ratio | 71.0 % | 95.4 % | Q1 FY26-27 |
| gross npa ratio | 0.00 % | 0.00 % | Q1 FY26-27 |
| Individual Agents policies(size) | 53123 count | 1680917 count | Q1 FY26-27 |
| net worth growth rate(size) | 48.0 % | 4.7 % | Q1 FY26-27 |
| Point of Sales Person (Direct) policies(size) | 0 count | 16 count | Q1 FY26-27 |
| travel incurred claims ratio | 29.0 % | 6.7 % | Q1 FY26-27 |
| Common Service Centres (CSC) policies(size) | 0 count | 646 count | Q1 FY26-27 |
| other approved securities(size) | 51272 INR_lakhs | 589075 INR_lakhs | Q1 FY26-27 |
| mutual funds(size) | 3816 INR_lakhs | 189844 INR_lakhs | Q1 FY26-27 |
| available solvency margin(size) | 111352 ₹ lakh | 765423 ₹ lakh | Q1 FY26-27 |
| other investments(size) | 1000 INR_lakhs | 202580 INR_lakhs | Q1 FY26-27 |
| Corporate Agents – Others premium(size) | 3836 ₹ lakh | 2862 ₹ lakh | Q1 FY26-27 |
| Brokers premium(size) | 41939 ₹ lakh | 19420 ₹ lakh | Q1 FY26-27 |
| gross direct premium to net worth ratio(size) | 74.00 × | 54.00 × | Q1 FY26-27 |
| incurred claims ratio | 80.0 % | 68.0 % | Q1 FY26-27 |
| net earning ratio | -8.0 % | 8.5 % | Q1 FY26-27 |
| infrastructure & housing(size) | 119100 INR_lakhs | 179220 INR_lakhs | Q1 FY26-27 |
| claims paid to provisioned ratio(size) | 44.0 % | 61.4 % | Q1 FY26-27 |
| expense ratio | 31.0 % | 32.0 % | Q1 FY26-27 |
| government securities(size) | 76520 INR_lakhs | 764118 INR_lakhs | Q1 FY26-27 |
| health combined ratio | 112.0 % | 100.2 % | Q1 FY26-27 |
| expense ratio to gross premium | 32.0 % | 31.9 % | Q1 FY26-27 |
| Web Aggregators policies(size) | 373 count | 1154 count | Q1 FY26-27 |
| Brokers policies(size) | 40126 count | 96094 count | Q1 FY26-27 |
| personal accident combined ratio | 71.0 % | 80.2 % | Q1 FY26-27 |
| Corporate Agents – Banks premium(size) | 4606 ₹ lakh | 10955 ₹ lakh | Q1 FY26-27 |
| operating profit ratio | -7.0 % | 7.9 % | Q1 FY26-27 |
| technical reserves to premium ratio(size) | 262.0 % | 277.6 % | Q1 FY26-27 |
| govt + approved securities(size) | 37.0 % | 35.8 % | Q1 FY26-27 |
| combined ratio | 111.0 % | 100.0 % | Q1 FY26-27 |
| Direct Business – Officers/Employees premium(size) | 6460 ₹ lakh | 24619 ₹ lakh | Q4 FY25-26 / Q3 FY25-26 |
| Direct Business – Officers/Employees policies(size) | 8858 count | 192467 count | Q4 FY25-26 / Q3 FY25-26 |
| claim settlement ratio | 93.1 % | 78.5 % | FY24-25 |
| claims repudiation ratio | 6.24 % | 12.33 % | FY24-25 |
Values shown as reported. This platform does not rate or rank insurers. Source: IRDAI public disclosures.