Star Health Clarifies Media Reports, Denies Receiving IRDAI Notice and Reaffirms Commitment to Compliance

Star Health and Allied Insurance Company Ltd has firmly denied recent media reports on so-called communications from the Insurance Regulatory and Development Authority of India (IRDAI). In a disclosure to the stock exchanges, the company squarely denied any communication from IRDAI in respect of regulatory remarks or show cause notices. Star Health pointed out that the media reports seeming to imply such communications are speculative and possible motive-based. The firm assured investors of its commitment to compliance with regulations and transparency in operations. This assurance comes after previous reports that had indicated IRDAI had sent a show cause notice to Star Health for non-compliance with various regulations, which the firm confirms today to be baseless.

 

Source: NSE, BSE, Company Statement