The company is the largest standalone insurer engaged in the health insurance segment with relatively superior market share and operating performance. Star Health has 815 branches and 14000+ network hospitals, with a presence in 25 states and five union territories. ICICI Direct values the company at ~2.8x FY24E GDP (58x FY24E EPS) and sees it rallying.
Irdai opens NDB’s Maharajah INR bonds to insurers
In a circular dated August 27, the regulator said that it had received representation from New Development Bank to permit Insurers to invest in Maharajah