On November 23, 2024, Star Health and Allied Insurance Company Limited (Star Health) officially announced the resignation of its Chief Risk Officer (CRO), Mr. Kapil Punwani, due to personal reasons. The resignation was submitted via a letter dated November 22, 2024, and was accepted by the Board of Directors on November 23, 2024, through a resolution passed by circulation. Mr. Punwani has been relieved of his duties as the CRO, and this change comes following his decision to step down from his position.

As per the company’s announcement, Mr. Amit Nagdev will assume the role of Deputy Chief Risk Officer at Star Health. This appointment follows the resignation of Mr. Punwani, and Mr. Nagdev’s transition will likely help maintain the company’s risk management framework and support ongoing operational goals. The resignation and subsequent changes were disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and related circulars.

Details of the Resignation

The resignation of Mr. Punwani is effective as of November 22, 2024, with the Board’s approval secured on November 23, 2024. As per the SEBI requirements, the company has provided necessary disclosures, including the resignation email dated November 22, 2024, which is attached as Annexure A. These disclosures also include the reason for the resignation, which is stated as due to personal reasons.

Star Health has also disclosed that there is no change in the relationships between the company’s directors, as the resignation of Mr. Punwani does not involve any new appointments or removals within the board.

Compliance with SEBI Regulations

In line with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, Star Health has ensured that all requisite disclosures are made promptly. This includes detailed information about the resignation and its impact on the leadership structure. These disclosures can be accessed on the company’s official website at www.starhealth.in. The company has committed to transparency, providing all necessary information as part of its corporate governance practices.

The Star Health team continues to demonstrate its commitment to adhering to regulatory compliance and maintaining smooth operations during this transition period. The company is also focused on strengthening its risk management practices and safeguarding its financial and operational integrity.

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