Star Health Gets 'Buy' As Yes Securities Initiates Coverage, Sees 29% Upside

Yes Securities Report

We initiate coverage on Star Health and Allied Insurance Company Ltd. with a Buy rating due to the following key reasons-

• While loss ratio is currently undergoing a spike, the same will be mitigated via various factors, including a self-correcting business model,

• Star runs a judiciously structured business strategy, which leads to superior, differentiated outcomes,

• Star will continue to benefit from an unparalleled physical distribution network that cannot be replicated easily by competitors,

• Star displays sound expense control and has the lowest expense ratio among standalone health insurers.

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