Introduction:
Insurance stock receives a Show Cause Notice from IRDAI for potential non-compliance during a routine inspection between January 31 and February 11, 2022. This pertains to various regulatory guidelines and standards.
Share Price movement of Star Health and Allied Insurance Company:
As of today, December 9, 2024, Star Health and Allied Insurance Company Ltd’s stock opened at ₹482.15 and reached an intraday high of ₹483.20, before closing at ₹464.90. This represents a 5% decrease from the previous close of ₹488.55, with a current market cap of ₹27,316.02 crores.
Star Health and Allied Insurance Company share price Fell:
Star Health and Allied Insurance Company Limited has received a Show Cause Notice from the Insurance Regulatory and Development Authority of India (IRDAI) regarding alleged violations during a general inspection conducted from January 31, 2022, to February 11, 2022. The notice addresses potential non-compliance with various IRDAI regulations and guidelines.
Following regulatory procedures, the company has responded to the IRDAI’s observations and provided the necessary details in Annexure 1, as required by Clause 20 of Para A of Part A of Schedule III of the Listing Regulations and the SEBI Circular dated July 13, 2023. This documentation supports the company’s explanations and compliance efforts.
This information, including the Show Cause Notice details, has been made publicly accessible on the company’s website, www.starhealth.in. Star Health requests that this matter be recorded by all relevant parties and ensures continued transparency and adherence to regulatory requirements.
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Recent news About Star Health and Allied Insurance Company:
On October 28, 2024, Star Health Insurance launched India’s first Braille health insurance policy, ‘Special Care Gold,’ enhancing accessibility for the visually impaired. The company also introduced job opportunities for them in the insurance sector as agents.
Stock performance of Star Health and Allied Insurance Company for Period of 1 week, 6 months and 1 year:
Over the past week, Star Health and Allied Insurance Company’s stock has risen by 4.51%. However, it has faced challenges over longer periods, declining by 5.67% over the last six months and by 13.2% over the past year.
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Shareholding pattern of Star Health and Allied Insurance Company:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 57.69 | 57.9 | 57.92 |
| FII | 17.65 | 21.58 | 26.57 |
| DII | 17.05 | 15.1 | 11.14 |
| Retail & others | 7.6 | 5.4 | 4.38 |
About Star Health and Allied Insurance Company:
Star Health and Allied Insurance Company Ltd. is a leading Indian health insurer, offering a range of health, personal accident, and overseas travel insurance products to individuals, families, and corporate clients, emphasizing accessibility and comprehensive coverage.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
