IRDAI imposes INR 34-mln penalty on Star Health and Allied Insurance
This story was originally published at 20:01 IST on 25 July 2025
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--IRDAI fines Star Health and Allied Insurance INR 34 mln
NEW DELHI – The Insurance Regulatory and Development Authority of India has imposed a penalty of INR 33.90 million on Star Health and Allied Insurance Co. Ltd., the insurance regulaor said Friday.
"IRDAI in exercise of the powers under Section 14 (1) of the IRDA Act, 1999, and Section 102 of the Insurance Act, 1938, has imposed a penalty of Rs. Three Crore Thirty-Nine Lakhs (INR 33.90 million) and warning for various violations established under IRDAI Information & Cyber Security Guidelines, 2023," the regulator said in a release.
Star Health's net profit slumped to INR 5.1 million in Apr-Jun, down 99.6% from INR 1.42 billion a year ago. Shares of the company Friday ended 1.2% lower at INR 425.10 on the National Stock Exchange. End
Reported by Shubham Rana
Edited by Rajeev Pai
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