Star Health Insurance Ranks Highest In Sustainability Among Indian Insurance Companies

PRNewswire
Mumbai (Maharashtra) [India], February 18: Star Health and Allied Insurance Company Ltd. (Star Health Insurance), India's largest retail health insurance provider, has secured the highest sustainability score among insurance companies in the Indian Insurance sector in S&P Global Corporate Sustainability Assessment. Star Health Insurance becomes India's most sustainable insurance company 2024 in the S&P Global Corporate Sustainability Assessment (CSA). The Company has secured a score of 53 based on the robust Environmental, Social, and Governance (ESG) parameters.
This accomplishment highlights the Company's constant focus on sustainable practices, transparency and fostering a strong ESG culture. The remarkable 10-point improvement in the score highlights Star Health's progress in key areas such as corporate governance, human capital management and climate strategy. This recognition reflects the company's commitment to integrating ESG principles into its operations and ensuring long-term value for all stakeholders.
Speaking on the achievement Mr. Anand Roy - MD & CEO at Star Health Insurance said, "We continuously evolve our business model to deliver excellence across all parameters and this is reflected in our sustainability rating too. This milestone underscores our leadership in sustainability and responsible business practices. This recognition reflects our dedication to integrating environmental, social, and governance principles into every aspect of our business. We remain committed to creating long-term value for our stakeholders through innovation, operational excellence and responsible practices that contribute to a more sustainable future for all. Thanks to our employees, customers, suppliers and partners for helping us embark on this journey and enable a more sustainable future"
The S&P Global Corporate Sustainability Assessment (CSA) Score measures a company's sustainability performance related to industry counterparts. The S&P Global ESG score measures management of material ESG risks, opportunities and impacts informed by company disclosures, media and stakeholder analysis, and in-depth company engagement via the S&P Global CSA.
As Star Health Insurance continues to lead the way in sustainable practices, it remains focused on its mission of customer-centricity, transparency and innovative health insurance solutions while contributing positively to society and the environment.
About Star Health and Allied Insurance:
Star Health Insurance (BSE: 543412) (NSE: STARHEALTH) is India's leading standalone health insurer, operating since 2006. The Company offers Health, Personal Accident and Travel Insurance, with specialized products for cancer, diabetes, cardiac illnesses, senior citizens, women and children. Star Health has a strong distribution network, including 910 offices, 14000+ network hospitals, ~17000 employees, 7.6 lac+ agents, and robust bancassurance partnerships. The Company is also among the first in India to settle over 1.2 crore claims amounting to INR 54,000 crores. In FY24, Star Health reported a gross written premium of Rs 15,254 Cr and a net worth of Rs 6,339 Cr.
For more information: http://www.starhealth.in
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