Star Health Insurance expands presence in Maharashtra, opens new Regional Office in Pune

Star Health and Allied Insurance Company Limited (Star Health Insurance), India's largest retail health insurance company, has strengthened its presence in Maharashtra with the inauguration of its new Regional Office in Yerawada, Pune. This expansion is part of Star Health's ongoing efforts to deepen its presence in semi-urban and rural markets in the region, where healthcare financing remains a critical need for millions of families. The company will also focus on enhancing customer engagement and building stronger relationships in the Pune region.

Gracing the inauguration with his presence, Mr. Anand Roy, MD & CEO, Star Health Insurance, said, "Pune has always been a key market for us, and with the opening of our new Regional Office, we are further strengthening our commitment to the region. As Maharashtra continues to evolve as a hub for businesses and individuals seeking quality healthcare protection, our focus is on making health insurance more accessible and seamless. We are aligned with IRDAI's vision of 'Insurance for All' and will continue working towards greater awareness and deeper penetration, ensuring that individuals and families across Pune and beyond have the financial security they need in times of medical emergencies. With a strong local team and a customer-first approach, we are excited to be part of this journey of expanding health coverage and building a healthier, more secure future for the region."

The newly inaugurated Regional office is located at 13 to 16, Above KIA Showroom, 1st Floor, Yerawada, Pune - 411006. It houses dedicated teams across key departments including Admin, Claims, Finance & Accounts, Hospital Relations, Learning & Development, Legal and Sales. In Maharashtra ex Mumbai, the Company has a current business portfolio of over Rs. 2,200 crore and is projected to grow by 20% in FY26. The region is supported by a robust network of over 1,17,000 agents, many specifically trained to address the unique health insurance needs of rural communities. Star Health Insurance has insured over 32 lakh lives with health insurance in Maharashtra and over 6.8 lakh lives in Pune in FY25 (Apr-Dec'24), with ambitious targets to increase rural coverage in the coming years. In Pune, Star Health has a network of close to 470 hospitals, 20 branches and 360 employees.

Pune region plays a pivotal role in Star Health's rural expansion strategy, serving as a gateway to numerous villages and small towns across western Maharashtra. The new Yerawada office will serve as a strategic hub for Star Health's outreach to many of these under penetrated and underserved markets, including areas like Hinjewadi, Talegaon, Chakan, and other developing industrial corridors and townships and increase the health insurance penetration in smaller villages of Maval, Mulshi, Bhor, Velhe, and Junnar talukas, where health insurance penetration has traditionally been lower than in urban centers.

With the launch of this new Regional Office, Star Health aims to enhance customer service and build closer, more personalized relationships with agents and policyholders across Pune, ensuring they feel heard, valued, and cared for.

Shares of Star Health and Allied Insurance Company Limited was last trading in BSE at Rs. 356.25 as compared to the previous close of Rs. 358.40. The total number of shares traded during the day was 137980 in over 3726 trades.

The stock hit an intraday high of Rs. 362.00 and intraday low of 349.75. The net turnover during the day was Rs. 48823845.00.

Source : Equity Bulls

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