Latest News | Star Health Insurance Q1 Profit Drops 18 Pc to Rs 263 Cr

New Delhi, Jul 29 (PTI) Star Health and Allied Insurance on Tuesday reported an 18 per cent decline in net profit to Rs 263 crore during the June quarter.

The standalone health insurer posted a net profit of Rs 319 crore during the April-June period of 2024-25.

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The company's total income during the June quarter rose to Rs 4,116 crore against Rs 3,692 crore in the year-ago period, Star Health said in a regulatory filing.

Gross written premium increased to Rs 3,605 crore during the quarter under review compared to Rs 3,476 crore in the same period a year ago.

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Last week, Insurance Regulatory and Development Authority of India imposed a penalty of Rs 3.39 crore and issued a warning to Star Health and Allied Insurance Company for violations under Irdai Information & Cyber Security Guidelines, 2023.

The standalone insurer was in the spotlight last year after it came under a cyberattack in which personal data of customers got breached.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)