Page 3 - Star Health Insurance

Star Health aims to double business to over Rs 30,000 cr in 4 yrs: MD

Standalone health insurer Star Health and Allied Insurance Company Ltd., has set a target to double its Gross Written Premium to about Rs 30,000 crore over the next four years, a top official said here on Wednesday. The city-headquartered company had recorded a GWP of Rs 15,254 crore in FY24 and reported a profit after tax of Rs 845 crore up by 37 per cent over last financial year, Managing Director and Chief Executive Officer Anand Roy said. "We are aspiring to grow faster than the industry. Our target is to double our business in the next four years. We have been growing at 22 per cent (Compounded Annual Growth Rate) from FY 2020-24. By FY28, our target is to reach Rs 30,000 crore (GWP). This is an internal target that we have set ourselves...," he told reporters. Since its inception in 2006, Star Health and Allied Insurance Company has approved claims of about Rs 44,000 crore. The doubling of Gross Written Premium would be based on deeper penetration into markets including tier

Health insurer Niva Bupa files IPO papers with Sebi to raise Rs 3,000 cr

The company intends to utilise net proceeds from the fresh issuance to the extent of Rs 625 crore towards strengthening their capital base and aiding solvency levels, and for general corporate purpose

Star Health deploys AI face tool to assist in health assessment

With the face scan feature, individuals can effortlessly track vital parameters such as blood pressure, pulse rate, heart rate, haemoglobin levels and stress levels

BoFA, CLSA, Motilal Oswal: Why are these brokerages bullish on Star Health?

In the quarter-ending March (Q4FY24) results, Star Health's net profit jumped 40 per cent to Rs 142.3 crore, as against Rs 101.8 crore in the same quarter a year ago

Star Health Q4FY24 results: Net profit rises 40% to Rs 142 crore

The investment income in the quarter under review increased to Rs 3,953.3 crore, 35 per cent over Rs 2,915.2 crore from the January - March quarter of FY23 due to better interest rates

ICICI Prudential mutual fund buys Star Health's shares for Rs 193 crore

ICICI Prudential Mutual Fund on Tuesday bought shares of Star Health and Allied Insurance Company for Rs 193 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), ICICI Prudential Mutual Fund purchased 35,74,074 shares, amounting to a 0.61 per cent stake in Star Health and Allied Insurance Company. The shares were acquired at an average price of Rs 540 apiece, taking the transaction value to Rs 192.99 crore. Details of the seller(s) could not be ascertained. On Tuesday, shares of Star Health and Allied Insurance Company fell 1.42 per cent to close at Rs 545.05 apiece on the NSE. In a separate bulk deal on the BSE, Abakkus Asset Manager LLP picked up shares of rice milling company LT Foods for Rs 55 crore through an open market transaction. According to the bulk deal data available with the BSE, Abakkus Asset Manager bought 33.93 lakh shares at an average price of Rs 162.04 apiece. This took the deal value to R

CLSA reiterates 'buy' on Star Health; sees 28% upside ahead

According to the report, Star has also rejected less claims till December FY24, though the company still had the highest rejection ratio

Apis Partners sells shares of insurance firm Star Health for Rs 553 crore

Private equity firm Apis Partners on Friday sold shares of health insurer Star Health and Allied Insurance Company for Rs 553 crore through an open market transaction. London-based Apis Partners through its affiliate Apis Growth 6 Ltd disposed of shares of Star Health on the BSE. According to the bulk deal data available with the BSE, Apis Growth 6 offloaded 1,00,00,000 shares of the company. The shares were sold at an average price of Rs 553.01 apiece, taking the deal size to Rs 553 crore. Meanwhile, ICICI Prudential Life Insurance Company acquired 30 lakh shares of Star Health and Allied Insurance through a bulk deal on the BSE. In a separate transaction, Apis Partners offloaded shares of Star Health and Allied Insurance Company for Rs 551 crore through open market transactions. Apis Growth 6 disposed of 99,60,728 shares of Star Health in two tranches at an average price of Rs 553 apiece, as per the block deal data on the BSE. This took the deal value to Rs 550.82 crore. Thes

Star Health Insurance Q3 results: Net profit rises 37.5% to Rs 289.55 cr

The net commission of the health insurer dropped 13.11 per cent (Y-o-Y) to Rs 349.85 crore from Rs 402.64 crore

Star Health Insurance introduces surrogacy cover and oocyte donor cover

The policy provides inpatient hospitalisation coverage for post-partum delivery complications experienced by the surrogate mother for a 36-month period under the Surrogacy cover

3 entities sell Star Health and Allied Insurance's shares worth Rs 1,312 cr

Three entities -- ROC Capital, Madison Capital and University of Notre Dame -- on Monday sold shares of Star Health and Allied Insurance Company for Rs 1,312 crore through open market transactions. Investment management firm ROC Capital through its affiliate ROC Star Investment Trust and Madison Capital through its fund MIO IV STAR offloaded the shares of the company. According to the block deal data available with BSE, University of Notre Dame DU LAC, ROC Capital and Madison Capital offloaded a total of 2,15,10,200 shares of Star Health and Allied Insurance in four tranches. The shares were offloaded at an average price of Rs 610.2 apiece, taking the combined transaction size to Rs 1,312.55 crore. These shares were acquired by ICICI Prudential Life Insurance Company and funds affiliated with Fidelity Investments. Together, both the companies picked up 3.7 per cent stake in health insurance company. Shares of Star Health and Allied Insurance Company closed flat at Rs 611.55 apiece

Insurer Star Health announces alliance with Standard Chartered Bank

Collaboration with lender will help in offering 'tailored health insurance' to more customers, says firm

Star Health Insurance net profit increases 35% to Rs 288 cr in Q1

Star Health and Allied Insurance on Friday reported a 35 per cent increase in net profit to Rs 288 crore for the June 2023 quarter. The standalone health insurer posted a net profit of Rs 213 crore during the April-June period of 2022-23. The company's total income during the June quarter rose to Rs 3,190 crore against Rs 2,809 crore in the year-ago period, Start Health said in a regulatory filing. Gross written premium increased to Rs 2,949 crore in Q1 FY24 compared to Rs 2,464 crore in the same period a year ago.

Star Health and Allied Insurance slumps 9% amid huge block deals

Till 11:41 am; a combined nearly 20 million shares or 3.5 per cent equity of Star Healthcare have changed hands on the BSE and NSE, the data shows.

Star Health Insurance earns net profit of Rs 102 cr in March quarter

Star Health and Allied Insurance on Friday reported Rs 102 crore net profit for the fourth quarter ended March 2023. The standalone health insurer had booked a loss of Rs 82 in the January-March quarter of the preceding fiscal. The insurer collected gross written premium (GWP) of Rs 4,199 crore in the quarter against Rs 3,689 crore in the year-ago period, it said in a regulatory filing. The net premium income increased to Rs 19,426.57 crore compared to Rs 14,289.66 crore. For the entire 2022-23, profit after tax (PAT) stood at Rs 619 crore against a loss of Rs 1,041 crore in FY22. "During the year ended March 31, 2023, the company pursuant to the approval received from the Insurance Regulatory and Development Authority of India (Irdai) has exercised Call Option and redeemed the Subordinated debenture in full on September 6, 2022, and October 29, 2022, amounting to Rs 200 crore and Rs 50 crore, respectively, including interest thereon," the insurer said. The corresponding debentur

Rakesh Jhunjhunwala-owned stocks trade mixed. Should you buy, sell, hold?

The decision to stay with these stocks, analysts said, should be based purely on how each of these companies is performing fundamentally

These Rakesh Jhujhunwala-owned stocks can rally up to 20%, charts suggest

Titan and Escorts look promising on the charts, while Star Health and Allied Insurance, Nazara Technologies and Rallis India need to conquer major hurdles for further gains, technical charts suggest.

This Rakesh Jhunjhunwala-owned stock has surged 64% from July's record low

Star Healthcare rallied 10% to Rs 768 in intra-day today, and has rebounded 64% from its record low of Rs 469.05 touched on July 1, 2022.

This Rakesh Jhunjhunwala-owned stock slipped 31% in 12 trading days

Star Health quoted lower for 12th straight trading day and has slipped 31 per cent to Rs 488.5 from Rs 703.35 that it had touched on June 14, 2022

This Rakesh Jhunjhunwala-owned stock hits new low; tanks 34% from IPO price

Star Health hit a record low of Rs 595, slipping 2.5 per cent on the BSE, its lowest level since its stock market debut.