Star Health Recognized as India’s Most Valuable and Admired Health Insurance Company in 2016

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  • Star Health received the prestigious award of “India’s Most Valuable and Admired Health Insurance Company of the Year, 2016” at The Pharma Leaders Awards, the leading award ceremony for the industry
  • Star Health collected the award ahead of several of its local peers after a comprehensive judging process
  • Star Health is a leading provider of retail health insurance in India and has received an investment by Apis Growth Fund I, a Private Equity fund managed by Apis Partners LLP

 

MUMBAI, India – December 8, 2016: Star Health and Allied Insurance Company Limited (“Star Health”, the “Company”) received “India’s Most Valuable and Admired Health Insurance Company of the Year, 2016” award at the 9th Annual Pharma Leaders Awards held at Sahara Star, Mumbai. The Company was distinguished amongst its peers, including all the leading healthcare insurance providers in India, for its leadership and drive for excellence. The following companies were recognised as nominees for the award: Apollo Munich Health Insurance; Max Bupa Health Insurance Company Ltd; Cigna TTK Health Insurance Company Ltd; Religare Health Insurance Company Ltd and Reliance General Insurance Company Ltd.

The Pharma Leaders Awards are one of the most prestigious industry awards. The Awards acknowledge and honour individuals and organizations for their accomplishments in healthcare innovation which deliver the highest impact in broadening access to healthcare for the Indian population. Pharma Leaders is the largest business and technology leadership awards program in the Pharmaceutical industry and covers 30 categories spanning from biotech to Healthcare to CEO awards.

At the 9th Annual awards more than 400 leading enthusiasts from the industry, veteran healthcare leaders, politicians, policy makers, social activists and change agents gathered for the evening. Star Health was judged by an elite Grand Jury, ranging from the Hon’ble Jagat Prakash Nadda, the Union Minister of Health and Family Welfare and Member of Rajya Sabha, Ms. Kiran Mazumdar-Shaw, Chairman and Managing Director of Biocon Limited to Mr. Satya Brahma, Chairman and Editor-in-Chief, Pharma Leaders group.

On receiving the award, Mr. V. Jagannathan, Chairman and Managing Director of Star Health, thanked the Company’s Directors of the Board , stakeholders and clients for the unwavering support extended to Star Health which has enabled the Company to garner such accolades and recognition at a National and International level.

 

About Star Health:

Founded in 2006, Chennai based Star Health (www.starhealth.in) is one of India’s leading health insurance providers and is India’s first and largest stand-alone business in the retail health insurance segment. Star Health provides over 3.7 million customers with health insurance, overseas medical cover and personal accident cover. The Company has a pan-India presence with more than 300 branch offices and a network of more than 7,000 hospitals. For the financial year ending March 2016, Gross Premium Income for the Company crossed INR 2,000 Cr (US$ 300 million). The Company is a pioneer of several innovations and industry firsts and has been consistently recognised as a leader in the health insurance market. The Company has a vast bouquet of products, including affordable products for the common man, contributing to all sections of society.

About Apis Partners

Apis Partners (www.apis.pe) is a private equity asset manager that supports growth stage financial services businesses in Africa and Asia by providing them catalytic growth equity capital.  Apis Partners consists of a tried-and-tested team that has worked together for over 15 years, with specialised expertise in financial services and technology in growth markets. Apis Partners’ operating network includes on-the-ground presence in 5 countries, a core team of 12 investment professionals and over 20 additional financial services sub-sector experts.

Apis Partners is highly conscious of the developmental impact that the provision of growth capital for financial services in growth markets can achieve, and financial inclusion is a core tenet of Apis Partners’ investment mandate.

Apis Partners is the manager of Apis Growth Fund I.

As a foreign private adviser, Apis Partners is exempt from registration under the Investment Advisers Act of 1940.

 Media Contacts:

Apis Partners (attention Camarco); Ed Gascoigne-Pees; +44 20 3757 4984; [email protected]