Star Health Unveils 'Star Flexi' Variants, Expands Super Star Plan Offerings
Star Health and Allied Insurance Company has introduced 'Star Flexi', offering three new variants (Essential, Preferred, and Secure) to its successful Super Star health insurance plan. The Super Star plan has already sold over 1.60 lakh policies and generated ₹580 crore in revenue within seven months. The new variants, with sum insured options starting from ₹5 lakh, aim to provide more flexibility and cater to a broader range of customer needs in the health insurance market.
09May 25
Star Health Insurance CEO and CFO Allegedly Targeted with Death Threats Following Data Breach
Star Health and Allied Insurance Company Limited is facing a serious security incident involving death threats to its top executives. The threats, allegedly from a hacker responsible for a 2024 data breach, include sending bullet cartridges to CEO Anand Roy and CFO Nilesh Kambli. The incident may be linked to denied insurance claims. Tamil Nadu police have launched an investigation, and a suspect from Telangana has been arrested. This situation highlights the growing intersection of cybersecurity and physical security risks in the insurance sector.
06May 25
ICICI Prudential MF Increases Stake in Star Health to 5.20%
ICICI Prudential Mutual Fund has increased its stake in Star Health and Allied Insurance Company from 4.96% to 5.20%. The fund acquired an additional 13,85,269 shares through the secondary market on May 2, 2025. This move by a major institutional investor could be seen as a positive signal for Star Health's business prospects in the competitive Indian insurance market.
05May 25
Star Health Insurance Appoints Former Commerce Secretary Rajeev Kher as Board Chairperson
Star Health and Allied Insurance Company Ltd. has appointed Mr. Rajeev Kher, an Independent Director and former Commerce Secretary to the Government of India, as the new Chairperson of its Board of Directors. The appointment is subject to IRDAI approval. Mr. Kher brings over four decades of experience in international trade, industrial development, sustainable policy, and regulatory governance. He has shaped India's Foreign Trade Policy and led international trade negotiations. Star Health, India's largest retail health insurance provider, expects this appointment to strengthen its position in the evolving healthcare and insurance landscape.
29Apr 25
Star Health Insurance Reports Significant Drop in Q4 FY23 Net Profit, Appoints New Chief Risk Officer
Star Health and Allied Insurance Company Limited reported a significant drop in net profit for Q4 FY23, falling to ₹5.00 million from ₹1,400.00 million in Q4 FY22. Despite this, premiums earned increased to ₹37,980.00 million. The company appointed Prashant Kalaver as Chief Risk Officer, effective May 12, 2025. Star Health also made changes to its premium recognition policy as per IRDAI regulations and implemented cybersecurity improvements following an incident in August 2024.
21Apr 25
Star Health and Allied Insurance Sees Major Block Trade on NSE
A significant block trade of 1,098,358 shares of Star Health and Allied Insurance Company Ltd. occurred on the National Stock Exchange. The shares were traded at ₹395.50 each, totaling ₹434.40 crores. This large transaction in one of India's leading private health insurers has drawn market attention, potentially indicating shifts in institutional holdings or investor interest.
16Apr 25
Star Health Insurance Expands Healthcare Access with New 'Doc Kendra' in Tiruppur
Star Health and Allied Insurance Company Limited has established a new healthcare facility called 'Doc Kendra' in Tiruppur, Tamil Nadu. This initiative aims to improve healthcare accessibility for local communities, including workers in the textile industry. The facility is expected to offer primary healthcare services, medical consultations, and basic diagnostic facilities, potentially benefiting both policyholders and local residents. This move demonstrates Star Health Insurance's commitment to expanding beyond traditional insurance services and actively participating in improving the overall healthcare ecosystem.
26Mar 25
Star Health Insurance Refutes Media Speculation on IRDAI Observations
Star Health and Allied Insurance Company Limited has refuted media reports about alleged IRDAI observations on its claims settlement practices. The company stated it has not received any communication from the regulator on this issue, calling the reports 'speculative and motivated'. Star Health emphasized that IRDAI's audits are routine regulatory procedures and reaffirmed its commitment to customer-centric practices and compliance standards.
25Mar 25
Star Health Denies Speculative Media Report Amid Regulatory Concerns
Star Health and Allied Insurance Company Limited has issued a statement denying recent media reports about regulatory scrutiny of its claim settlement practices. The company asserts it has not received any communication from the regulatory authority regarding the subject mentioned in the media report. This contradicts earlier reports suggesting that IRDAI had found irregularities in the company's claim settlement operations. Star Health has announced an upcoming virtual meeting with analysts and institutional investors on March 27, 2025, which may provide an opportunity for clarifications.
07Mar 25
Star Health Insurance Launches 'SheTARA': A Comprehensive Women's Health Initiative
Star Health and Allied Insurance Company Limited has introduced 'SheTARA', a program offering free healthcare to women in Tamil Nadu. The initiative includes over 40 health camps providing essential medical screenings. Star Health is also promoting women's empowerment by encouraging women to become insurance advisors, with over 16,000 women agents already generating Rs. 420+ crore in business volume. The company aims to increase female representation to 30% of total agents, offering flexibility and strong earning potential.