Star Health Insurance — Distribution Mix

Star Health and Allied Insurance's new business was led by the Individual Agents channel at 91.4% of premium for Q1 FY26-27, as reported in IRDAI form NL-36.

combined ratio, Q1 FY26-27
100.0%
−2.1 pts
incurred claims ratio, Q1 FY26-27
68.0%
−1.5 pts
net commission ratio, Q1 FY26-27
14.7%
−0.0 pts
expense ratio to gross premium, Q1 FY26-27
31.9%
−0.9 pts
Total premium, Q1 FY26-27
₹3,92,009 lakh
+9.0%
Leading channel, Q1 FY26-27
Individual Agents
91.4% of premium

Channel mix — quarter ended Q1 FY26-27 vs. Q1 FY25-26 (year ago)

Channel groupPolicies, Q1 FY26-27Premium, Q1 FY26-27Policies, Q1 FY25-26Premium, Q1 FY25-26
Brokers96,094₹19,420 lakh (5.0%)84,108₹16,124 lakh (4.5%)
Agents/POSP16,80,933₹3,58,241 lakh (91.4%)16,64,529₹3,01,251 lakh (83.7%)
Agents/POSP channels (2)
ChannelPolicies, Q1 FY26-27Premium, Q1 FY26-27Policies, Q1 FY25-26Premium, Q1 FY25-26
Individual Agents16,80,917₹3,58,240 lakh16,64,451₹3,01,239 lakh
Point of Sales Person (Direct)16₹1 lakh78₹12 lakh
Direct WebsiteNot disclosed₹0 lakh (0.0%)87,546₹17,605 lakh (4.9%)
Banks31,416₹10,955 lakh (2.8%)23,546₹14,347 lakh (4.0%)
Direct non-websiteNot disclosed₹0 lakh (0.0%)51,731₹9,208 lakh (2.6%)
Direct non-website channels (2)
ChannelPolicies, Q1 FY26-27Premium, Q1 FY26-27Policies, Q1 FY25-26Premium, Q1 FY25-26
Direct Business – Officers/EmployeesNot disclosedNot disclosed51,731₹9,208 lakh
Direct Business – OthersNot disclosedNot disclosedNot disclosedNot disclosed
Corporate Agents4,947₹2,862 lakh (0.7%)3,579₹661 lakh (0.2%)
Others2,713₹531 lakh (0.1%)2,714₹512 lakh (0.1%)
Others channels (7)
ChannelPolicies, Q1 FY26-27Premium, Q1 FY26-27Policies, Q1 FY25-26Premium, Q1 FY25-26
Micro AgentsNot disclosedNot disclosedNot disclosedNot disclosed
Common Service Centres (CSC)646₹67 lakh237₹21 lakh
Insurance Marketing Firm913₹219 lakh1,082₹245 lakh
MISP (Direct)Not disclosedNot disclosedNot disclosedNot disclosed
Web Aggregators1,154₹245 lakh1,395₹246 lakh
Referral ArrangementsNot disclosedNot disclosedNot disclosedNot disclosed
OtherNot disclosedNot disclosedNot disclosedNot disclosed
Total, India18,16,103₹3,92,009 lakh (100%)19,17,753₹3,59,708 lakh (100%)

Per IRDAI Form NL-36 (Business Channels Wise), "For the Quarter" column. Channels are grouped into ARGO's own 7-way classification (Brokers, Agents/POSP, Direct Website, Banks, Direct non-website, Corporate Agents, Others) — click a group with more than one channel to see its own breakdown. "Total, India" sums the 15 channels extracted here and excludes "Business outside India," a separate geography line on the same form. Some insurers report "Direct Business"'s sub-channels (Officers/Employees, Online, Others) as one combined figure rather than a real breakdown — shown as "Not disclosed" for those rows rather than guessed.

Total premium by quarter, trend

PeriodTotal, India premiumPolicies
Q2 FY25-26₹4,41,714 lakh23,26,239
Q3 FY25-26₹4,62,400 lakh23,10,421
Q4 FY25-26₹5,52,954 lakh26,15,920
Q1 FY26-27₹3,92,009 lakh18,16,103