External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades.

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External broker reports(aggregated public sources)

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Star Health reported weak performance for Q3FY25, with GWP growth at 5.3% (at a 1.8% miss) impacted by implementation of the 1/n regulation and Combined Ratio at 103.3% vs our estimate of 100.5% driven by higher Claims and Expense Ratio (affected by 1/n premium accounting of long-term policies).</li><li>The double whammy of increased claims frequency and severity continues to hurt profitability, driving claims ratio at 71.4% vs our estimate of 70.5%, whereas implementation of the 1/n regulation impacted Expense Ratio, which was 31.9% vs Emkay’s at 30%.</li><li>To mitigate the impact of the elevated claims, the management plans taking a price hike in the 8-9% range across ~65% of the Retail Health portfolio.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Star Health reported weak performance for Q3FY25, with GWP growth at 5.3% (at a 1.8% miss) impacted by implementation of the 1/n regulation and Combined Ratio at 103.3% vs our estimate of 100.5% driven by higher Claims and Expense Ratio (affected by 1/n premium accounting of long-term policies).The double whammy of increased claims frequency and severity continues to hurt profitability, driving claims ratio at 71.4% vs our estimate of 70.5%, whereas implementation of the 1/n regulation impacted Expense Ratio, which was 31.9% vs Emkay’s at 30%.To mitigate the impact of the elevated claims, the management plans taking a price hike in the 8-9% range across ~65% of the Retail Health portfolio.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Star Health - Arduous Journey Toward Gradual Recovery in Claims Ratio