STAR HEALTH & AL INS CO L Share price

The Company was incorporated as ‘Star Health And Allied Insurance Company Limited’ a public limited company under the Companies Act 1956 on June 17 2005 and was granted the certificate of incorporation by Registrar of Companies Tamil Nadu at Chennai (“RoC”). the Company was granted its certificate for commencement of business on December 9 2005 by the RoC. Further the Company was granted its certificate to carry out the business of General Insurance by a certificate dated March 16 2006 given by the IRDAI. The Company as part of the disclosures made in the annual return filed with the Registrar of Companies Tamil Nadu at Chennai in Form MGT-7 and as a part of extract of Annual Return in the Form MGT-9 had currently and with reference to past periods named or identified certain entities as its Promoters. However the Board has decided that it was imperative that the identification of Promoters be consistent with the definition under applicable law and the purposes for which such disclosure may be made. Consequently pursuant to resolution dated July 12 2021 the Company has identified Safecrop Investments India LLP WestBridge AIF I and Rakesh Jhunjhunwala as the Promoters. Additionally the Company was of the opinion that there are no other individuals or entities that (i) have the right to appoint majority of the directors or to control the management or policy decisions exercisable by a person or persons acting individually or in concert directly or indirectly including by virtue of their shareholding or management rights or shareholders’ agreements or voting agreements or in any other manner in the Company; and (ii) in accordance with whose advice directions or instructions the Board is accustomed to act. Additionally the IRDAI through its letters dated March 27 2019 and April 16 2019 has also directed the Company’s Promoters to be Safecrop Investments India LLP WestBridge AIF I and Rakesh Jhunjhunwala.Major events and milestones of the Company2006- Incorporated as the first standalone health insurance company in India2007- Introduced online in-house claim settlement without TPA- Launched Senior Citizen Red Carpet policy (Star Medi Gold)- Launched Star Super Surplus insurance policy- Launched Star HIV Care Insurance policy2008- Initiated involvement of doctors and specialists in claim settlement and in underwriting2019- Investment by Safecrop India Investments LLP WestBridge AIF I and Rakesh Jhunjhunwala the present Promoters2020- Started providing telemedicine facility to customersAwards accreditations and recognitions received by the Company:2014- Awarded the “Claim Leader- Health Insurance” at the Indian Insurance Awards2015- Awarded the “Best Product Innovation Health Insurance” at the Indian Insurance Awards- Awarded the “Best Health Insurance provider of the year 2015” at the Business TodayMoney Today Financial Awards- Awarded the “Health Insurance Company of the Year” at the Indian Insurance Awards2016- Awarded the “India’s Most Valuable & Admired Health Insurance Company 2016” award at the Pharma Leaders Power Brands Awards- Recognised as one of “Top 25 Most Innovative Companies” at the CII Industrial Innovation Awards 2016- Awarded the “Best Health Insurer 2016” at the Outlook Money Awards 2016; and- Awarded the “Most Innovative Service Provider of the Year” at the World HRD Congress Singapore.2017- Awarded the “Health Insurance Company of the Year” at the Fintelekt Insurance Awards- Awarded the “Best Health Insurance Company of the Year” at the National Awards for Marketing Excellence by Times Network- Awarded the “NIM CARE W.H.O Award of Excellence” from the President of India; and- Awarded the “Best Health Insurance provider of the year 2016” award at the Business TodayMoney Today Financial Awards.2018- Awarded the Health Insurance Provider of the Year 2018 silver award at the Outlook Money Awards- Awarded the “Best Health Insurance Provider of the Year 2018” award at the Business Today-Money Today Financial Awards 2018 – 2019- Awarded the “Most Valuable and Admirable Health Insurer” at the Pharmaceutical Leadership Summit and Awards 2018- Awarded the “Health Insurance Company of the Year” award at the Insurance India Summit and Awards 2018- Awarded the “Health Insurance Provider of the Year” award at the Outlook Money Awards- Awarded the “Health Insurance Provider of the Year” award at the Money Today Financial Awards 2017-18- Awarded the “Golden Peacock Award Innovative Product/Serive Award Dubai” at the Golden Peacock Innovative Product/Service Award 20182019- Awarded the “Health Insurance Company of the year 2019” at the India Insurance Summit and Awards 2020- Awarded the “Best Health Insurance Provider of the Year 2019” at the Business TodayMoney Today awards- Awarded the Vajra Award for recognition of overall performance in labthe welfare for the year 2018 by the State Government of Kerala- Awarded the “Best BFSI Brands Award” at the Economic Times- Awarded the “India’s Leading Insurance Company of the Year” award at the Dun & Bradstreet BFSI Summit & Awards2020- Recognised as India’s leading health insurance company at the Dun & Bradstreet BFSI Summit & Awards 20202021- Awarded “Dream Companies to Work for Insurance- Private Sector” at the World HRD Congress- Awarded under the category of “Most Innovative New Product Launches or Customer Propositions” at the 13th Global Insurance E-Summit and Award by the Associated Chambers of Commerce and Industry of India (ASSOCHAM)- Awarded “India's Best Health Insurance Company selected by Democratic Process (voting)” by Insurance Alertss; and- Awarded “India's Best Health Insurance Company Award for Retail Products” at the 4th Insurance Alertss Conclave and Excellence Awards hosted by Insurance Alertss at Conclave and Excellence Awards