Star Health aims for profit in 2015-16

KOLKATA: The country's first standalone health insurance company Star Health and Allied Insurance is looking to post its maiden underwriting profit in the current fiscal.

"We are expecting an underwriting profit in the current fiscal for the first time since inception in 2006. We hope to post Rs 100 crore profit," Star Health Senior VP (Marketing & Sales) Anand Roy said here today.

Underwriting profit does not include income other than premiums.

He said that in the second quarter, the company had posted about Rs 8 crore profit due to other income.

Star is the largest health insurance player in the private sector in India with Rs 1,470 crore premium in 2014-15.

Roy said this year, premium income was likely to touch Rs 2,000 crore.

The company will be expanding in the East with four new branches, of which three are in West Bengal (Kolkata, Siliguri, Midnapore) and one in Odisha (Sambalpur).