Star Health & Allied Insurance Company Ltd Share Price – NSE  / BSE

Insurance, Small Cap

Star Health & Allied Insurance Co. will hold a meeting of the Board of Directors of the Company on 28 January 2025.

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The Insurance Regulatory and Development Authority of India (IRDAI) has issued a show cause notice to Star Health and Allied Insurance Company for alleged violations of various IRDAI regulations and guidelines. The notice follows an inspection IRDAI conducted for the period from January 31, 2022 to February 11, 2022 and the observations it made pertaining to the company’s business and operational aspects.

The company is in the process of submitting response to the observations, Star Health said in filing. The company has been advised to reply within 21 days from the date of receipt of the notice along with supporting documents. It is in the process of providing adequate replies to the alleged violations and believes that there will not be any impact. However, the outcome and related implications cannot be predicted with certainty at this stage, the insurer said.

The company was undertaking internal assessments with regard to the impact because of the show cause notice.

Star Health is a standalone health insurer, offering a variety of products including health, personal accident, and travel insurance. The company has a strong distribution network and have settled over 1 crore claims. In FY24, they reported a gross written premium of Rs 15,254 crore and a net worth of Rs 6,339 crore.

The company’s net profit fell 11.18% to Rs 111.29 crore on 17.2% increase in total income to Rs 4060.62 crore in Q2 FY25 over Q2 FY24.

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KIOCL Ltd, Sun TV Network Ltd, Rainbow Childrens Medicare Ltd, Poly Medicure Ltd are among the other stocks to see a surge in volumes on BSE today, 04 November 2024.

Star Health & Allied Insurance Company Ltd witnessed volume of 92351 shares by 10:47 IST on BSE, a 3.8 times surge over two-week average daily volume of 24287 shares. The stock dropped 3.80% to Rs.493.15. Volumes stood at 8336 shares in the last session.

KIOCL Ltd notched up volume of 19145 shares by 10:47 IST on BSE, a 3.53 fold spurt over two-week average daily volume of 5423 shares. The stock slipped 5.84% to Rs.316.00. Volumes stood at 354 shares in the last session.

Sun TV Network Ltd clocked volume of 27212 shares by 10:47 IST on BSE, a 3.19 times surge over two-week average daily volume of 8520 shares. The stock lost 3.00% to Rs.734.05. Volumes stood at 6421 shares in the last session.

Rainbow Childrens Medicare Ltd clocked volume of 38289 shares by 10:47 IST on BSE, a 2.47 times surge over two-week average daily volume of 15530 shares. The stock gained 3.14% to Rs.1,598.20. Volumes stood at 9697 shares in the last session.

Poly Medicure Ltd notched up volume of 27974 shares by 10:47 IST on BSE, a 2.06 fold spurt over two-week average daily volume of 13567 shares. The stock slipped 7.95% to Rs.2,911.35. Volumes stood at 23340 shares in the last session.

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Profit before tax for Q2 FY25 dropped to Rs 148.80 crore, down 10.96% from Rs 148.80 crore in Q2 FY24.

Total expenses gained 18.71% to Rs 3,898.58 crore in Q2 FY25 over Q2 FY24. Net commission was at Rs 548.86 crore (up 12.73% YoY) while other expense stood at Rs 156.40 crore (up 15.68% YoY) during the period under review.

Anand Roy, MD and CEO of Star Health and Allied Insurance stated, At Star Health, we are committed to bringing innovative, affordable products to all socioeconomic segments of society, leveraging technology and robust partnerships with healthcare providers to enhance service delivery.

By introducing modular plans that adapt to customers' needs across life stages, allowing for customization and scalability - and expanding our inclusive offerings, we have strengthened our reach across key segments. We remain laser-focused on ensuring accessible and affordable health insurance for every Indian, especially in underserved markets.”

Star Health Insurance is a standalone health insurer, offering a variety of products including health, personal accident, and travel insurance. The company has a strong distribution network and have settled over 1 crore claims. In FY24, they reported a gross written premium of Rs 15,254 crore and a net worth of Rs 6,339 crore.

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