Medi Assist Healthcare Services Limited has reported a robust performance for the second quarter and first half of fiscal year 2026, showcasing significant revenue growth and market share gains in the health insurance premium administration sector.

Revenue Growth and Market Share

The company achieved notable revenue growth across its key segments:

Medi Assist Healthcare's market share in health insurance premium administration increased to 20.30% as of September 30, 2025, up from 19.20% in the previous year. The group segment market share saw a significant rise to 30.80% compared to 28.40% in September 2024.

Financial Performance

For Q2 FY26, Medi Assist Healthcare reported a Profit After Tax (PAT) of Rs 8.10 crores. However, this figure was impacted by the recent Paramount acquisition, which led to:

• A decrease in other income
• Increased finance costs
• Incremental depreciation

The effective tax rate stood at 40.10% for Q2 and 30.20% for H1 FY26.

Operational Highlights

• Customer retention remained strong at 93.40%, with a focus on quality revenues following the Paramount acquisition.
• The company's share of Private/SAHI insurers in the total portfolio of Premiums Under Management (PUM) administered increased to 29.10% for H1FY26, a growth of approximately 200 basis points year-over-year.
• Group segment PUM administered for Private/SAHI insurers grew by 20.30% year-over-year, outpacing the industry growth of 7.80%.
• Retail segment PUM administered for Private/SAHI insurers saw an impressive growth of 45.80% year-over-year, significantly higher than the industry growth of 8.60%.

Technology and Future Outlook

Medi Assist Healthcare continues to invest in technology, with the implementation of its MAtrix platform at Star Health and Allied Insurance Co. ongoing. The company expects a ramp-up of volumes from Q4FY26 onwards.

The company maintains a strong pipeline with select marquee corporates already onboarded and is actively pursuing opportunities in the government and international segments.

Medi Assist Healthcare's performance demonstrates its resilience and growth potential in the health insurance administration sector, with a clear focus on technology-driven solutions and market expansion.

Medi Assist Healthcare Services Limited, a leading health benefits administrator in India, has announced a significant move to support its international operations. The company's Board of Directors has approved the issuance of a Stand-By Letter of Credit (SBLC) not exceeding Rs 5 crores for its UK subsidiary, Mayfair WeCare Limited.

Strategic Business Arrangement

This financial arrangement is part of a broader business strategy where MediAssist, along with an insurer and an overseas service provider, will offer services to policyholders of overseas medical claim policies and travel/health insurance policies for Indians traveling abroad. As part of this agreement, Mayfair WeCare Limited is required to furnish a Performance Guarantee in the form of a Bank Guarantee to insurers.

Financial Implications

The approval of this SBLC creates a contingent liability for MediAssist, limited to Rs 5 crores. This means the company may be required to honor the Bank Guarantee if Mayfair WeCare Limited defaults on its obligations. It's important to note that this transaction is conducted at arm's length basis, and the promoter/promoter group has no interest in this arrangement.

Q2 and H1 FY2026 Financial Highlights

Coinciding with this announcement, MediAssist also released its financial results for Q2 and H1 FY2026:

The company's operating revenue showed strong growth, but profitability was impacted by integration costs related to the recent acquisition of Paramount Health Services and Insurance TPA Private Limited.

Operational Highlights

• Total Premium under Management (PUM) reached Rs 12,719 crore as of September 30, 2025, growing 20.2% year-on-year.
• Market share in health insurance premium administration increased to 21.3%, up from 19.2% in the previous year.
• The company achieved a retention rate of approximately 93.4% for Group accounts across corporates.

Strategic Developments

MediAssist has been expanding its capabilities and market presence:

1. Completed the acquisition of Paramount Health Services and Insurance TPA Private Limited on July 1, 2025.
2. Executed a strategic partnership with Star Health & Allied Insurance Co. for deploying MediAssist's proprietary MAtrix claims platform.
3. Enhanced focus on technology-driven Fraud, Waste, and Abuse (FWA) prevention, delivering savings of approximately Rs 230 crore.

Management Commentary

Satish Gidugu, CEO of MediAssist, commented on the company's performance: "We are encouraged by the ongoing transformation in the health insurance segment, driven by technology and strategic partnerships that enhance efficiency, access, and trust. This half year's milestones demonstrate strong confidence in MediAssist's vision and capabilities."

The approval of the Stand-By Letter of Credit for Mayfair WeCare Limited aligns with MediAssist's strategy to strengthen its global presence and expand its service offerings in the international health insurance market. As the company continues to grow its domestic and international operations, investors and stakeholders will be watching closely to see how these strategic moves translate into long-term value creation.