Introduction
Star Health and Allied Insurance Company Ltd. (Star Health Insurance) has achieved the highest sustainability score among Indian insurance companies in the S&P Global Corporate Sustainability Assessment (CSA) 2024. With an ESG score of 53, Star Health has been recognized as India’s most sustainable insurance company for the year, reflecting its commitment to environmental, social, and governance (ESG) practices.
Key Highlights
Star Health’s Commitment to Sustainability
- Highest-ranked insurer in the S&P Global CSA 2024 among Indian insurance companies.
- Achieved a 10-point improvement in sustainability scores.
- Strong performance in corporate governance, human capital management, and climate strategy.
Industry Recognition and ESG Leadership
- The S&P Global Corporate Sustainability Assessment (CSA) Score evaluates sustainability performance across industries.
- The ESG score measures how well companies manage environmental, social, and governance risks and drive positive impact.
- Star Health’s transparency, responsible business practices, and long-term stakeholder value creation contributed to its high ranking.
CEO’s Statement on the Achievement
Anand Roy, MD & CEO of Star Health Insurance, emphasized the company’s focus on sustainability, saying:
“This milestone underscores our leadership in sustainability and responsible business practices. We remain committed to integrating ESG principles into every aspect of our business, ensuring long-term value for stakeholders and contributing to a more sustainable future.”
Star Health Insurance: A Market Leader
- Established in 2006, Star Health is India’s largest retail health insurance provider.
- Offers a wide range of products, including health, personal accident, and travel insurance, with specialized plans for cancer, diabetes, cardiac illnesses, senior citizens, women, and children.
- Operates with:
- 910 offices
- 14,000+ network hospitals
- ~17,000 employees
- 7.6 lakh+ agents
- Robust bancassurance partnerships
- Claims Leadership: First insurer in India to settle over 1.2 crore claims, amounting to ₹54,000 crore.
- Financial Strength (FY24):
- Gross Written Premium: ₹15,254 crore
- Net Worth: ₹6,339 crore
Conclusion
By securing the highest sustainability ranking, Star Health Insurance reinforces its position as a leader in ESG-driven insurance practices. The company remains focused on customer-centricity, transparency, and innovation, ensuring long-term sustainability while delivering high-quality health insurance solutions.
