Health Insurance Company Rankings India — IRDAI Data
Rankings cover standalone health insurance companies only — insurers licensed exclusively to write health business. General insurers also write health policies; their health-segment claim data is not separately available in IRDAI disclosures.
By Incurred Claim Ratio
Health claims paid as a percentage of net premium earned. Source: IRDAI NL-20.
| # | Insurer | ICR (%) | Period |
|---|---|---|---|
| 1 | Galaxy Health Insurance | 59.82 | Q1 FY26-27 |
| 2 | Star Health Insurance | 68.03 | Q1 FY26-27 |
| 3 | Care Health Insurance | 77.00 | Q1 FY26-27 |
| 4 | Niva Bupa Health Insurance | 78.82 | Q1 FY26-27 |
| 5 | ManipalCigna Health Insurance | 80.00 | Q1 FY26-27 |
| 6 | Aditya Birla Health Insurance | 84.00 | Q1 FY26-27 |
| 7 | Narayana Health Insurance | 219.00 | Q1 FY26-27 |
By Solvency Ratio
Financial strength buffer above IRDAI mandatory minimum of 1.5×. Source: IRDAI NL-20.
| # | Insurer | Solvency (×) | Period |
|---|---|---|---|
| 1 | Galaxy Health Insurance | 3.95 | Q1 FY26-27 |
| 2 | Niva Bupa Health Insurance | 2.25 | Q1 FY26-27 |
| 3 | Star Health Insurance | 2.09 | Q1 FY26-27 |
| 4 | ManipalCigna Health Insurance | 1.93 | Q1 FY26-27 |
| 5 | Narayana Health Insurance | 1.67 | Q1 FY26-27 |
| 6 | Care Health Insurance | 1.58 | Q1 FY26-27 |
| 7 | Aditya Birla Health Insurance | 1.58 | Q1 FY26-27 |
Source: IRDAI public disclosures (NL-20).Health insurance overview → ·All rankings →