Shares of this multi-national insurance company witnessed positive action on July 12

Star Health was in momentum today as the company partnered with CSC to expand its insurance business.

Despite negative market sentiments, the shares of Star Health and Allied Insurance company on July 12 closed at Rs 563.2 with a 1.96% gain for the day. The shares opened at Rs 555, and the opening price also remained at the intraday low. The stock also jumped as high as Rs 593.2 during today’s trade session.

Star Health and Allied Insurance company has a market capitalization of Rs 32400 crore and belongs to S&P BSE group ‘B’. The promoters hold 58.90% of the company, while Institutions and Non-Institutions hold 37.08% and 4.02%, respectively.

Under the Ministry of Electronics & Information Technology, Star Health and Allied Insurance and Common Services Centers (CSC) have partnered to give more than 5 lakh CSCs access to a specific variety of Star Health insurance products, which are specially tailored to meet the needs of rural customers, across tier-II and tier-III cities and rural markets across India.

In addition to offering a wide range of e-services through a single delivery platform, localised help desk support, and sustainability of VLEs through a maximum commission sharing model of operation, the CSCs will offer several advantages to rural clients.

Access to health insurance products would be made simple via a self-sustaining network of over 5 lakh CSCs in Gram Panchayats run by Village Level Entrepreneurs (VLEs). To satisfy the demands of the rural markets for health insurance, CSC will provide a range of advantageous products through its network, including the Family Health Optima Insurance Plan, Accidental Care Individual Policy, Star Micro Rural and Farmers Care, among others.

Star Health and Allied Insurance company offer excellent services in areas such as health, personal injury, and international travel insurance. The company has weak financials with negative ROE and ROCE of -21% and -25.7%, respectively. The shares of Star Health & Allied Insurance have a 52-week high and low of Rs 940 and Rs 469.05, respectively.