Narayana Health Insurance — Financial Performance
Narayana Health Insurance's combined ratio was 259.0% for Q1 FY26-27, as reported in IRDAI form NL-20-ANALYTICAL-RATIOS.
Quarterly financial ratios — Q4 FY24-25 to Q1 FY26-27
| Metric | Q1 FY26-27 | Q4 FY25-26 | Q3 FY25-26 | Q2 FY25-26 | Q4 FY24-25 |
|---|---|---|---|---|---|
| incurred claims ratio | 219.0% | 90.0% | 82.0% | 72.1% | Not disclosed |
| net commission ratio | 1.0% | 2.0% | 0.0% | -0.4% | Not disclosed |
| expense ratio to gross premium | 39.0% | 64.0% | 93.0% | 93.3% | Not disclosed |
| combined ratio | 259.0% | 156.0% | 128.0% | 128.4% | Not disclosed |
| solvency ratio | 1.67× | 1.67×+0.06× | 1.70×−0.07× | 1.55×−0.29× | 1.61× |
| profit before tax | ₹-20 crore | ₹-7 crore | ₹-3 crore | ₹-4 crore | Not disclosed |
| profit after tax | ₹-20 crore | ₹-7 crore | ₹-3 crore | ₹-4 crore | Not disclosed |
The small figure under each number is the change from the same quarter a year earlier — in percentage points for ratios, as a percentage change for profit before/after tax. Shown only where this insurer has a filing from exactly that quarter a year ago; no figure means that comparison isn't available, not that nothing changed.
Expense ratio shown on a gross-direct-premium basis (GDP), per IRDAI's 2021 reform — not directly comparable to an insurer's net-written-premium (NWP) basis figure if quoted elsewhere. "Not disclosed" means this insurer's filing for that quarter didn't include this figure — not an estimate.
Full-year financial ratios
These are the insurer's own full-year figures, as filed with IRDAI for the whole fiscal year — not the same as adding up four quarters, since each quarter's own number above is a standalone snapshot for that quarter alone.
| Metric | FY25-26 |
|---|---|
| incurred claims ratio | 90.0% |
| net commission ratio | 2.0% |
| expense ratio to gross premium | 64.0% |
| combined ratio | 156.0% |
Provenance (combined ratio, latest quarter)
- Reported by
- Narayana Health Insurance
- Regulatory form
- NL-20-ANALYTICAL-RATIOS · what this form contains
- Reporting period
- Q1 FY26-27
- Source document
- textplor-vendor-2026-27-Q1.xlsx · Narayana Health Insurance's disclosure page
- Extracted by
- EverythingInsurance Research (vendor-compiled dataset, textplor.com, offline 2026-10-26)
- Last verified
- 2026-10-26
- Note
- Corrected 2026-10-26: verified against independent primary-source PDF Finacial_Report_Q1_2026_27_5f0f8f9805.pdf page 22, row [10, Combined Ratio, 2.59, 4.71] for [Jun 30 2026, Jun 30 2025] -- table has zero percent signs anywhere, confirming bare-decimal convention, needs x100. 2.59x100=259.0. (Original vendor value 2.59 matched this PDF exactly, just unconverted.)