STARHEALTH

Adds stock move, details from press statement, industry background

Feb 28 (Reuters) - Indian stock broker Angel One ANGO.NS on Friday said some of its Amazon Web Services (AWS) resources were compromised and that it has hired an external forensic partner to investigate the impact.

The company's shares, already pressured in a weak market, extended losses to as much as 4.7% after the news.

"We have verified that this breach does not have any impact on clients' securities, funds and credentials and all our client accounts remain secure," the company said in an exchange filing.

Angel One said it was notified of the breach by its dark-web monitoring partner and that it immediately changed all credentials of its AWS cloud and other applications.

It did not give further details on the breach, which is the latest to have hit Indian companies, especially insurers.

Niva Bupa Health Insurance NIVA.NS reported an incident last week, while HDFC Life Insurance HDFL.NS and Star Health STAU.NS were other high-profile targets that led the insurance regulator to direct industry-wide audits of IT systems.

More broadly, the Reserve Bank of India, also the country's financial regulator, said it would launch secure website domain names to curb phishing and other such digital threats.

(Reporting by Sethuraman NR; Editing by Savio D'Souza)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

By Ira Dugal

This was originally published in the India File newsletter, which is issued every Tuesday. Sign up here to get latest news from India and how it matters to the world.

Elon Musk's Tesla TSLA.O seems to be nudging closer to selling its electric vehicles (EVs) in India, unnerving its automakers. How much of a headache will Tesla be for Indian automakers? That's the focus of our analysis this week.

Also, Indian insurers may pitch for a one-of-its-kind charge linked to New Delhi's air pollution. And the central bank announces a mega cash infusion to ease rates. Scroll down for more on both those stories.

This week in Asia

** Trump orders use of CFIUS to restrict Chinese investments in strategic areas

** Bangladesh and Pakistan resume direct trade after more than 50 years

** Bank of Korea resumes rate cuts as economic risks grow

** OpenAI removes users in China, North Korea suspected of malicious activities

** DBS set to cut 4,000 jobs over 3 years due to AI, CEO says

Namaste India

Tesla is getting ready to hit Indian streets.

The company has selected showrooms in New Delhi and Mumbai and is stepping up hiring plans. Signs that Musk is fast-tracking plans to enter the country come shortly after his meeting with Prime Minister Narendra Modi in Washington earlier this month.

If Musk pushes ahead with his plans to enter India, automakers, who are already struggling with pockets of weak demand and intensifying competition, will have one more battle to fight - holding on to their better-off customers.

Passenger vehicle sales in India grew 4% in 2024, the slowest in four years, industry data showed. And EVs, where many automakers have focused their new launches expecting a consumer shift, have seen patchy demand because of high prices and an inadequate charging network.

Musk has long delayed plans to sell his EVs in India, partly due to the high import duties of nearly 100% that the country levies on them. While that is yet to change, India is reviewing import duties across a number of categories, under the threat of reciprocal tariffs by the United States.

Musk's close relationship with U.S. President Donald Trump may allow him to wrangle some concessions without giving India what it really wants – for Tesla to manufacture in India. Trump has already made his dislike for that idea public, saying it would be "unfair" to the U.S. for Musk to manufacture in India to avoid paying the high levies placed on imported vehicles.

Read this BreakingViews piece by Shritama Bose to understand why Musk is not India's ideal foreign investor.

Technology vs pricing

Tesla's impending entry hit shares of major Indian automakers on Friday. Mahindra and Mahindra MAHM.NS slid 6.2%, while Tata Motors TAMO.NS and Hyundai Motor India HYUN.NS dropped 2.5% and 3.5%, respectively.

Both Mahindra and Tata Motors have previously lobbied against a cut in import taxes on EVs.

Analysts differ on just how much of a dent Tesla can make in the incumbents' market positions in India.

Citi believes Tesla's technology will give it an edge.

Tesla and China's BYD 002594.SZ – which is also expanding its offerings in India – have access to proven technology and manufacturing processes, which will offset the advantages of the incumbents including their wide sales and service networks, said Citi in a February 21 note.

The "hegemony" that local automakers have enjoyed in combustion engine cars has led to many foreign automakers meeting with limited local success in India but that may not hold in EVs, Citi said.

CLSA, though, feels Tesla's tech advantage will be taken away by its pricing.

With various taxes and the import levies, the cheapest Teslas, priced at $35,000 in the U.S., could be sold at around 3.5 million Indian rupees ($40,377). That is almost three times the 1.2-million-rupee average selling price of cars in India.

About two-thirds of the EVs sold are priced under 2 million rupees, according to an estimate from Macquarie Research.

"Factors such as spacious interiors, features, aesthetics, better resale value visibility and right pricing are the key drivers in car purchase decisions, regardless of the powertrain, in our view," CLSA said in a February 21 note.

Will Tesla leave existing brands in the rear view mirror? Write to me with your views at [email protected].

Quote of the week

"We have to start thinking about pollution as a separate factor in the pricing (of insurance) in the sense that can we then start executing a particular charge for the areas which are impacted by it?"

Amitabh Jain, the operating chief of Star Health STAU.NS, India's No.1 standalone health insurer, is among industry executives pitching for an increase in health insurance premiums for New Delhi, which has seen toxic air year after year.

The pollution has led to more Delhi residents seeking treatment for asthma, chronic obstructive pulmonary disease (COPD) and cardiovascular conditions in 2024, higher than in any prior year, insurers are arguing.

Read that Reuters exclusive here.

Market matters

The Indian central bank announced a mega $10 billion forex swap as a way to infuse cash into the Indian banking system.

The swap followed large dollar sales from the central bank to protect the rupee, which in turn had withdrawn rupee liquidity from the banking system, hurting the central bank's effort to bring down interest rates and lift growth.

The central bank had infused liquidity worth 3.6 trillion Indian rupees over the past five weeks but analysts had said more will be needed.

Short-term bond yields and the forward premium on the rupee fell in response to the RBI's swap.

($1 = 86.6840 Indian rupees)

(Reporting by Ira Dugal; Editing by Muralikumar Anantharaman)

(([email protected]; +91-9833024892;))

India File is published every Tuesday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.

Feb 25 - By Ira Dugal, Editor Financial News, with global Reuters staff.

Elon Musk's Tesla TSLA.O seems to be nudging closer to selling its electric vehicles (EVs) in India, unnerving its automakers. How much of a headache will Tesla be for Indian automakers? That's the focus of our analysis this week.

Also, Indian insurers may pitch for a one-of-its-kind charge linked to New Delhi's air pollution. And the central bank announces a mega cash infusion to ease rates. Scroll down for more on both those stories.

THIS WEEK IN ASIA

** Trump orders use of CFIUS to restrict Chinese investments in strategic areas

** Bangladesh and Pakistan resume direct trade after more than 50 years

** Bank of Korea resumes rate cuts as economic risks grow

** OpenAI removes users in China, North Korea suspected of malicious activities

** DBS set to cut 4,000 jobs over 3 years due to AI, CEO says

NAMASTE INDIA

Tesla is getting ready to hit Indian streets.

The company has selected showrooms in New Delhi and Mumbai and is stepping up hiring plans. Signs that Musk is fast-tracking plans to enter the country come shortly after his meeting with Prime Minister Narendra Modi in Washington earlier this month.

If Musk pushes ahead with his plans to enter India, automakers, who are already struggling with pockets of weak demand and intensifying competition, will have one more battle to fight - holding on to their better-off customers.

Passenger vehicle sales in India grew 4% in 2024, the slowest in four years, industry data showed. And EVs, where many automakers have focused their new launches expecting a consumer shift, have seen patchy demand because of high prices and an inadequate charging network.

Musk has long delayed plans to sell his EVs in India, partly due to the high import duties of nearly 100% that the country levies on them. While that is yet to change, India is reviewing import duties across a number of categories, under the threat of reciprocal tariffs by the United States.

Musk's close relationship with U.S. President Donald Trump may allow him to wrangle some concessions without giving India what it really wants – for Tesla to manufacture in India. Trump has already made his dislike for that idea public, saying it would be "unfair" to the U.S. for Musk to manufacture in India to avoid paying the high levies placed on imported vehicles.

Read this BreakingViews piece by Shritama Bose to understand why Musk is not India's ideal foreign investor.

TECHNOLOGY VS PRICING

Tesla's impending entry hit shares of major Indian automakers on Friday. Mahindra and Mahindra MAHM.NS slid 6.2%, while Tata Motors TAMO.NS and Hyundai Motor India HYUN.NS dropped 2.5% and 3.5%, respectively.

Both Mahindra and Tata Motors have previously lobbied against a cut in import taxes on EVs.

Analysts differ on just how much of a dent Tesla can make in the incumbents' market positions in India.

Citi believes Tesla's technology will give it an edge.

Tesla and China's BYD 002594.SZ – which is also expanding its offerings in India – have access to proven technology and manufacturing processes, which will offset the advantages of the incumbents including their wide sales and service networks, said Citi in a February 21 note.

The "hegemony" that local automakers have enjoyed in combustion engine cars has led to many foreign automakers meeting with limited local success in India but that may not hold in EVs, Citi said.

CLSA, though, feels Tesla's tech advantage will be taken away by its pricing.

With various taxes and the import levies, the cheapest Teslas, priced at $35,000 in the U.S., could be sold at around 3.5 million Indian rupees ($40,377). That is almost three times the 1.2-million-rupee average selling price of cars in India.

About two-thirds of the EVs sold are priced under 2 million rupees, according to an estimate from Macquarie Research.

"Factors such as spacious interiors, features, aesthetics, better resale value visibility and right pricing are the key drivers in car purchase decisions, regardless of the powertrain, in our view," CLSA said in a February 21 note.

Will Tesla leave existing brands in the rear view mirror? Write to me with your views at [email protected].

QUOTE OF THE WEEK

"We have to start thinking about pollution as a separate factor in the pricing (of insurance) in the sense that can we then start executing a particular charge for the areas which are impacted by it?"

Amitabh Jain, the operating chief of Star Health STAU.NS, India's No.1 standalone health insurer, is among industry executives pitching for an increase in health insurance premiums for New Delhi, which has seen toxic air year after year.

The pollution has led to more Delhi residents seeking treatment for asthma, chronic obstructive pulmonary disease (COPD) and cardiovascular conditions in 2024, higher than in any prior year, insurers are arguing.

Read that Reuters exclusive here.

MARKET MATTERS

The Indian central bank announced a mega $10 billion forex swap as a way to infuse cash into the Indian banking system.

The swap followed large dollar sales from the central bank to protect the rupee, which in turn had withdrawn rupee liquidity from the banking system, hurting the central bank's effort to bring down interest rates and lift growth.

The central bank had infused liquidity worth 3.6 trillion Indian rupees over the past five weeks but analysts had said more will be needed.

Short-term bond yields and the forward premium on the rupee fell in response to the RBI's swap.

($1 = 86.6840 Indian rupees)

(Reporting by Ira Dugal; Editing by Muralikumar Anantharaman)

(([email protected]; +91-9833024892;))

By Ashwin Manikandan

NEW DELHI, Feb 21 (Reuters) - Indian insurers are considering making New Delhi residents pay 10% to 15% more for new health policies after an extraordinary spike in claims related to air pollution in 2024 in India's capital, according to nine executives aware of the matter.

The plan, now in discussion amongst insurers and which would need approval from the insurance regulator, follows record-breaking air pollution in New Delhi last year. If approved, it would be the first time air pollution was used as a direct factor in figuring health insurance premiums in India, and could be used to justify price hikes in other cities as well.

Toxic air led to more Delhi residents seeking treatment for asthma, chronic obstructive pulmonary disease (COPD) and cardiovascular conditions in 2024, higher than in any prior year, five of the executives said.

All the executives spoke on condition of anonymity as they are not authorized to speak with media.

"We have to start thinking about pollution as a separate factor in the pricing in the sense that can we then start executing a particular charge for the areas which are impacted by it," said Amitabh Jain, the operating chief of Star Health STAU.NS, India's No.1 standalone health insurer.

In 2024, the number of patients with respiratory ailments who needed to be hospitalized rose to 17%-18% in the second half of the year versus 5%-6% in the first half, Jain said.

Also, respiratory claims rose 8.3% from fiscal year 2023 to fiscal year 2025 in the state of Delhi, which recorded the highest rise in healthcare costs in India during that period, according to a joint report from Boston Consulting Group and Indian healthcare administrator Medi Assist.

Star Health and ICICI Lombard ICIL.NS said pollution could soon become a direct factor in determining health insurance premiums if poor air quality persists. Bajaj Allianz General Insurance said the industry could also add new clauses specifically addressing pollution-related health concerns.

The Insurance Regulatory and Development Authority of India (IRDAI) and prominent Indian insurers including Aditya Birla Health Insurance, Tata AIG, New India Assurance THEE.NS and Go Digit GODG.NS did not respond to requests seeking comment.

For 2023/24, Indian insurers collected $12.4 billion in health insurance premiums, an increase of about 20% over the previous year, according to the latest IRDAI annual report.

NOT JUST DELHI

New Delhi chokes on smog every winter due to a blend of vehicle emissions, construction dust and smoke from illegal farm fires. In November, Delhi overtook Pakistan's Lahore as the world's most polluted city in Swiss group IQAir's live rankings, with Mumbai and Kolkata also making it to the list of top 10 cities with the most toxic air.

On November 18, India's pollution control authority said the national capital territory's 24-hour air quality index (AQI) score touched a season-high of 491 on a scale of 500. Anything over 400 is "severe", affecting healthy people as well as "seriously impacting" those with existing health issues.

In India, insurers can vary health insurance premiums by city based on factors ranging from hospitalization costs to demographics.

Getting the regulatory nod to include air pollution as a factor would depend on insurers submitting proof to back the assertion that toxic air is leading to an increase in claims.

"The frequency and severity of hospitalization purely due to the toxicity in the air needs to be isolated," PwC India Financial Services Advisory Leader Joydeep Roy said.

"That involves commissioning longer-term studies."

It is not known how long it would take to conduct such studies or to get the needed approvals from IRDAI.

Senior citizens, children, outdoor professionals and those with preexisting respiratory conditions would likely pay the highest premiums. The plan, if approved, would likely make health insurance unaffordable for many who need it most.

New Delhi's per capita income was $5,331 in 2024 according to the Delhi Statistical Handbook, and under current guidelines health insurance with a coverage limit of $10,000 for a family in the city would cost between $100 to $400 per year.

"In India, owning health insurance cover is a luxury," said Delhi resident and COPD patient Aniket Tiwari, 28, who decided against getting coverage in 2024 because it was too pricey.

(Reporting by Ashwin Manikandan; Editing by Dhanya Skariachan and Tom Hogue)

(([email protected];))

Feb 5 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• GETS DEMAND ORDER FOR TAX OF 240.1 MILLION RUPEES, PENALTY OF 240.1 MILLION RUPEES

Source text: ID:nNSEb8M15S

Further company coverage: STAU.NS

(([email protected];;))

Jan 28 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• DEC-QUARTER PAT 2.15 BILLION RUPEES

• DEC-QUARTER NET PREMIUM EARNED 38 BILLION RUPEES

Source text: [ID:]

Further company coverage: STAU.NS

(([email protected];;))

** Insurers fall after India govt panel on Saturday defers plans to slash taxes on some life, health insurance premiums

** Life insurers LIC LIFI.NS, Max Financial MAXI.NS and HDFC Life HDFL.NS fall 0.6%-1.4%

** Health insurers Star Health STAU.NS and ICICI Lombard ICIL.NS down 2% and 0.7%, respectively

** YTD, MAXI up ~15% YTD, LIFI up ~8.5%, ICIL up ~33%, while HDFL and STAU down ~4% and ~11%, respectively

(Reporting by Yagnoseni Das in Bengaluru)

(([email protected];))

** Shares of health insurer Star Health And Allied Insurance STAU.NS fall 3% to 488.7 rupees

** Co on Friday said it got a show-cause notice from Insurance Regulatory and Development Authority of India

** Notice comes after IRDAI's inspection (Jan 31–Feb 11, 2022) on co revealing non-compliance with its regulations and guidelines

** Stock set to fall for a second straight session

** Avg rating of all analysts covering STAU is "buy" and median PT is 600 rupees, ~20% higher than current price - LSEG data

** STAU down ~10% YTD

(Reporting by Yagnoseni Das in Bengaluru)

(([email protected];))

Dec 6 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• RECEIVED SHOW CAUSE NOTICE FROM IRDAI

• NOTICE FOR NON-COMPLIANCE WITH VARIOUS IRDAI REGULATIONS, GUIDELINES

Source text: [ID:]

Further company coverage: STAU.NS

(([email protected];;))

Adds details in paragraphs 3,5 and background in paragraph 6-8

Nov 25 (Reuters) - India's HDFC Life Insurance Co HDFL.NS said on Monday that an unknown source shared certain customer data with the company with "mala fide intent".

The company, in a statement, did not elaborate if it knew or was told how the source had obtained the data. It also did not specify what data was shared, nor the extent of the data.

It did not respond to Reuters' request for additional information.

The insurer, however, said it has started an investigation in consultation with information security experts. It is also conducting an information security assessment and data log analysis.

"We continue to investigate this further to assess potential impact," HDFC Life said in its statement.

In October, India's insurance regulator directed insurers to carry out audits of their IT systems following concerns over customer data leaks at two firms.

While the regulator did not name the firms, local media reports said that the action followed breaches at Star Health and Allied Insurance STAU.NS and TATA AIG General Insurance.

In August, Star Health faced a data theft incident where stolen customer data, including medical reports, were publicly accessible via chatbots on messaging app Telegram and through websites.

(Reporting by Hritam Mukherjee and Nishit Navin in Bengaluru; Editing by Savio D'Souza)

(([email protected]; X: @MukherjeeHritam;))

** Shares of Star Health And Allied Insurance STAU.NS fall as much as 6.6% to 500.7 rupees

** Co's Q2 PAT dropped 74% y/y, while net premium earned fell 48.7%

** Over 1.8 mln shares traded, 2.1x the 30-day moving avg

** 20 analysts avg rating is "buy" and median PT is 670 rupees, 30% higher than current price - LSEG data

** STAU down ~3% YTD

($1 = 84.0750 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected]; +91 8697274436;))

Oct 29 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• SEPT-QUARTER PAT 1.11 BILLION RUPEES

• SEPT-QUARTER NET PREMIUM EARNED 37.04 BILLION RUPEES

Source text: [ID:]

Further company coverage: STAU.NS

(([email protected];;))

Oct 28 (Reuters) - India's Star Health and Allied Insurance Company STAU.NS said on Monday that it did not find any evidence of wrongdoing by the company's chief information security officer in a data leak incident.

The company said that alleged communication between the hacker and the security officer were fabricated by the hacker.

(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema)

(([email protected]; 8800437922;))

NEW DELHI, Oct 25 (Reuters) - An Indian court in the southern state of Tamil Nadu has asked Indian insurer Star Health STAU.NS to provide details of data leak of customers through chatbots with messaging app Telegram for deletion.

The Madras High Court gave the direction after Telegram said it was unable to search for leaks on its own but agreed to delete the leaked data if the insurer gave them details.

(Reporting by Arpan Chaturvedi
Editing by Shri Navaratnam)

(([email protected];))

By Munsif Vengattil and Aditya Kalra

NEW DELHI, Oct 12 (Reuters) - Star Health STAU.NS, India's biggest health insurer, on Saturday said it had received a ransom demand of $68,000 from a cyberhacker in connection with a leak of customer data and medical records.

Star, which has a roughly $4 billion market cap, is battling a reputational and business crisis since Reuters reported on Sept. 20 that a hacker had used Telegram chatbots and a website to leak customers' sensitive data, including tax details and medical claim papers.

The company, whose shares have declined 11%, has launched internal investigations and has taken legal action against Telegram and the hacker, whose website continues to share samples of Star customers' data.

Star, which has previously said it is a "victim of a targeted malicious cyberattack", on Saturday revealed for the first time that in August "the threat actor demanded a ransom of $68,000 in an email" addressed to the company's managing director and its chief executive.

The statement came after Indian stocks exchanges sought clarifications from Star on a Friday over a Reuters report that the company was investigating allegations that its chief security officer was involved in the data leak.

Star reiterated on Saturday it has found no wrongdoing by the official, Amarjeet Khanuja, though the internal investigation is ongoing.

Telegram has declined to share the account details or permanently ban accounts linked to the hacker - an individual dubbed xenZen - "despite multiple notices issued in this regard," Star said on Saturday.

Star said it has "sought the assistance" of Indian cyber security authorities to "help us identify" the hacker.

Telegram did not respond to a request for comment.

The Dubai-based messenger app has previously said it removed the chatbots when Reuters flagged them to the platform.

(Reporting by Aditya Kalra and Munsif Vengattil)

(([email protected]; @adityakalra;))

By Aditya Kalra and Munsif Vengattil

NEW DELHI, Oct 10 (Reuters) - India's Star Health is investigating accusations that its chief information security officer played a role in a data leak by a self-styled hacker who used Telegram chatbots and websites to disseminate customers' medical records and personal data.

The country's biggest health insurer, Star told Reuters that the official, Amarjeet Khanuja, was co-operating in its investigation into the leak, which has so far turned up no evidence of wrongdoing by him.

The investigation comes after the hacker, an individual dubbed xenZen, publicly asserted on his website that the executive had "sold all this data to me".

Khanuja, the firm's chief information security officer (CISO), did not respond to a request for comment.

"Our CISO has been duly co-operating in the investigation and we have not arrived at any finding of wrongdoing by him till date," Star said in Wednesday's statement.

Last month Star Health STAU.NS sued Telegram and the hacker after Reuters reported on Sept. 20 that the hacker used chatbots on the messaging app to leak customer details, before setting up websites providing easy access to the data.

Star was trading down 2% on Thursday, and has lost about 6% since the Reuters report.

"We were the victim of a targeted, malicious cyberattack, resulting in unauthorized and illegal access to certain data," Star said.

Independent cybersecurity experts were leading its forensic investigation, Star added in the statement, and it was also working closely with authorities, to whom it had reported the incident.

Earlier, Star said its initial assessment showed "no widespread compromise", adding, "Sensitive customer data remains secure."

A court in Star's southern home state of Tamil Nadu has granted it a temporary injunction ordering Telegram and the hacker to block any chatbots or websites in India that make the data available online.

Telegram has not commented on the lawsuit, while the hacker has vowed to join the hearings online if permitted to do so.

Star's legal challenge to Telegram comes amid growing scrutiny of the platform globally and the recent arrest of its founder Pavel Durov in France, with the app's content moderation and features allegedly abused for illegal activities.

Durov and Telegram denied wrongdoing and are addressing the criticism.

Telegram has previously said it removed the chatbots when Reuters flagged them to the messaging platform's team.

On Thursday, an online website made by the hacker was still allowing people to merely click on a start button to receive samples of the Star Health policy-related data, including claim documents and medical records of patients.

Star did not comment on the website.

"We urge all platforms, hosting companies, social media channels and users to take swift and decisive action to halt such activities," it said.

The Telegram feature allowing users to create chatbots is widely credited with helping the Dubai-based messaging app become one of the world's biggest, with 900 million active user a month.

The hacker's website offered claim document samples in PDF format, while users can also request up to 20 samples from 31.2 million datasets comprising details such as names, policy numbers and even body mass index (BMI).

(Reporting by Aditya Kalra; Editing by Clarence Fernandez)

(([email protected]; @adityakalra;))

By Munsif Vengattil and Aditya Kalra

BENGALURU, Sept 29 (Reuters) - U.S. software firm Cloudflare has denied any role in hosting two websites run by a hacker offering for sale stolen personal data and medical records of customers of top Indian insurer Star Health.

The statement comes after the company was made party to an Indian lawsuit filed by Star Health last week, in which the insurer alleged that Cloudflare hosted the websites in question.

"Cloudflare is not the host for the domains in question," the firm told Reuters, adding that it works as a pass-through service situated between a website host and an end-user, which is why one may see a Cloudflare IP address.

Star has also sued Telegram and the self-styled hacker xenZen, after Reuters reported that sensitive personal data, from telephone numbers to copies of identity cards and blood reports of its customers, were publicly accessible via Telegram chatbots.

The websites and Telegram bots were inaccessible on Sunday.

Star did not immediately respond to a request for comment outside regular business hours in India.

Earlier, Star said initial assessment showed "no widespread compromise", adding that sensitive customer data remained secure.

The company has received a temporary injunction from a court in its southern home state of Tamil Nadu ordering Telegram and the hacker to block any chatbots or websites in India that make the data available online.

Last week Telegram told Reuters any newly-created bots attempting to share this data were probably removed in a massive sweep of its searchable content.

The Star lawsuit comes as global scrutiny of Telegram grows following last month's arrest of its founder Pavel Durov in France, with the app's content moderation and features allegedly abused for illegal activities.

Durov and Telegram denied wrongdoing and said they were tackling the criticism.

(Reporting by Munsif Vengattil and Aditya Kalra; Editing by Clarence Fernandez)

(([email protected];))

Sept 27 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• INDIA'S STAR HEALTH: CO RECENTLY EXPERIENCED A CYBERSECURITY INCIDENT

• STAR HEALTH: INVESTIGATING CYBERSECURITY INCIDENT, FOLLOWING REQUIRED PROTOCOLS

Further company coverage: STAU.NS

(([email protected];))

By Munsif Vengattil and Aditya Kalra

BENGALURU, Sept 26 (Reuters) - Top Indian insurer Star Health STAU.NS has sued Telegram and a self-styled hacker after Reuters reported that the hacker was using chatbots on the messaging app to leak personal data and medical reports of policy holders.

Star has received a temporary injunction from a court in its home state of Tamil Nadu ordering Telegram to block any chatbots or websites in India "that make available the data online," the insurer said in public notice published in The Hindu newspaper.

Star in the notice described the incident as "illegal hacking and unauthorized accessing of the confidential, sensitive" information.

Telegram did not respond to a Reuters request for comment.

Reuters last week reported that an individual dubbed xenZen had made stolen data including medical reports of Star customers publicly accessible on Telegram, just weeks after Telegram's founder was accused of allowing the app to facilitate crime.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Christopher Cushing)

(([email protected];))

By Christopher Bing and Munsif Vengattil

WASHINGTON/BENGALURU, Sept 20 (Reuters) - Stolen customer data including medical reports from India's biggest health insurer, Star Health, is publicly accessible via chatbots on Telegram, just weeks after Telegram's founder was accused of allowing the messenger app to facilitate crime.

The purported creator of the chatbots told a security researcher, who alerted Reuters to the issue, that private details of millions of people were for sale and that samples could be viewed by asking the chatbots to divulge.

Star Health and Allied Insurance STAU.NS, whose market capitalization exceeds $4 billion, in a statement to Reuters said it has reported alleged unauthorized data access to local authorities. It said an initial assessment showed "no widespread compromise" and that "sensitive customer data remains secure".

Using the chatbots, Reuters was able to download policy and claims documents featuring names, phone numbers, addresses, tax details, copies of ID cards, test results and medical diagnoses.

The ability for users to create chatbots is widely credited with helping Dubai-based Telegram become one of the world's biggest messenger apps with 900 million active monthly users.

However, the arrest of Russian-born founder Pavel Durov in France last month has increased scrutiny of Telegram's content moderation and features open to abuse for criminal ends. Durov and Telegram denied wrongdoing and are addressing the criticism.

The use of Telegram chatbots to sell stolen data demonstrates the difficulty the app has in preventing nefarious agents taking advantage of its technology and highlights the challenges Indian companies face in keeping their data safe.

The Star Health chatbots feature a welcome message stating they are "by xenZen" and have been operational since at least Aug. 6, said UK-based security researcher Jason Parker.

Parker said he posed as a potential buyer on a online hacker forum where a user under the alias xenZen said they made the chatbots and possessed 7.24 terabytes of data related to over 31 million Star Health customers. The data is free via the chatbot on a random, piecemeal basis, but for sale in bulk form.

Reuters could neither independently verify xenZen's claims nor ascertain how the chatbot creator obtained the data. In an email to Reuters, xenZen said they were in discussions with buyers without disclosing who or why they were interested.

TAKEN DOWN

In testing the bots, Reuters downloaded more than 1,500 files with some documents dated as recently as July 2024.

"If this bot gets taken down watch out and another one will be made available in few hours," the welcome message read.

The chatbots were later marked "SCAM" with a stock warning that users had reported them as suspect. Reuters shared details of the chatbots with Telegram on Sept. 16 and within 24 hours spokesperson Remi Vaughn said they had been "taken down" and asked to be informed should more appear.

"The sharing of private information on Telegram is expressly forbidden and is removed whenever it is found. Moderators use a combination of proactive monitoring, AI tools and user reports to remove millions of pieces of harmful content each day."

New chatbots have since appeared offering Star Health data.

Star Health said an unidentified person contacted it on Aug. 13 claiming to have access to some of its data. The insurer reported the matter to the cybercrime department of its home state of Tamil Nadu and federal cyber security agency CERT-In.

"The unauthorized acquisition and dissemination of customer data is illegal, and we are actively working with law enforcement to address this criminal activity. Star Health assures its customers and partners that their privacy is of paramount importance to us," it said in its statement.

In an Aug. 14 stock exchange filing, Star Health, India's biggest player among standalone health insurance providers, said it was investigating an alleged breach of "a few claims data".

Representatives for CERT-In and the Tamil Nadu cybercrime department did not respond to emailed requests for comment.

UNAWARE

Telegram allows individuals or organizations to store and share large amounts of data behind anonymous accounts. It also lets them create customizable chatbots which automatically provide content and features based on user requests.

Two chatbots distribute Star Health data. One offers claim documents in PDF format. The other allows users to request up to 20 samples from 31.2 million datasets with a single click giving details including policy number, name and even body mass index.

Among documents disclosed to Reuters were records related to the treatment of the one-year-old daughter of policyholder Sandeep TS at a hospital in the southern state of Kerala. The records included diagnosis, blood test results, medical history and a bill of nearly 15,000 rupees ($179).

"It sounds concerning. Do you know how this can affect me?" said Sandeep, confirming the documents' authenticity. He said Star Health had not notified him of any data leak.

The chatbot also leaked a claim last year by policyholder Pankaj Subhash Malhotra which included ultrasound imaging test results, details of illness and copies of federal tax account and national ID cards. He also confirmed the documents were genuine and said he was not made aware of any security breach.

The Star Health chatbots are part of a broader trend of hackers using such methods to sell stolen data. Of five million people whose data was sold via chatbots, India represented the largest number of victims at 12%, showed the latest survey on the epidemic conducted by NordVPN at the end of 2022.

"The fact that sensitive data is available via Telegram is natural, because Telegram is an easy-to-use storefront," said NordVPN cybersecurity expert Adrianus Warmenhoven. "Telegram has become an easier to use method for criminals to interact."

(Reporting by Christopher Bing and Munsif Vengattil; Editing by Aditya Kalra and Christopher Cushing)

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July 30 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• STAR HEALTH INSURANCE - RE-APPOINTS ANAND ROY AS MD, CEO

• STAR HEALTH AND ALLIED INSURANCE COMPANY JUNE-QUARTER PAT 3.91 BILLION RUPEES

• STAR HEALTH AND ALLIED INSURANCE COMPANY JUNE-QUARTER NET PREMIUM EARNED 35.20 BILLION RUPEES

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July 8 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• STAR HEALTH AND ALLIED INSURANCE- CO ANNOUNCED STRATEGIC CORPORATE AGENCY AGREEMENT WITH HIMACHAL PRADESH STATE COOPERATIVE BANK

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April 3 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• PARTNERS WITH PHONEPE

• PARTNERSHIP WITH PHONEPE TO OFFER STAR COMPREHENSIVE INSURANCE POLICY

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March 18 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• STAR HEALTH TO OFFER DOLLAR-DENOMINATED INSURANCE VIA GIFT CITY BRANCH

• GRANTED REGISTRATION BY IFSCA TO ESTABLISH IFSC INTERNATIONAL OFFICE AT GIFT CITY

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Feb 15 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• GETS DEMAND ORDER FROM OFFICE OF DEPUTY COMMISSIONER

• GETS ORDER ALLEGING TOTAL DEMAND OF 1.71 BILLION RUPEES, PENALTY OF 86.7 MILLION RUPEES

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Oct 31 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• SEPT-QUARTER PAT 1.25 BILLION RUPEES VERSUS PROFIT 931 MILLION RUPEES

• SEPT-QUARTER NET PREMIUMS EARNED 32.06 BILLION RUPEES VERSUS 27.95 BILLION RUPEES

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Oct 9 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• RECEIVED SHOW CAUSE NOTICE FROM DIRECTORATE GENERAL OF GST INTELLIGENCE

• RECEIVED SHOW CAUSE NOTICE ALLEGING TAX DEMAND OF 390 MILLION RUPEES

• CO WILL BE FILING APPROPRIATE RESPONSE TO SAID SHOW CAUSE NOTICE

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Corrects company name in paragraph 1

By Dharamraj Dhutia

MUMBAI, Sept 26 (Reuters) - India's benchmark bond yield will likely rise further in the next few weeks amid higher crude prices and surging U.S. yields, providing the right entry point for investors, a senior fixed income official at Star Health Insurance said.

Aneesh Srivastava, executive director and chief investment officer (CIO) at Star Health Insurance, said he sees the 10-year bond yield IN071833G=CC crossing the key resistance level of 7.25% in the next quarter, a contrarian view to what is largely expected to be a relatively range-bound movement.

"I expect the benchmark to rise to the 7.40%-7.50% levels and at that point, we would be keen to add," he said, advising investors to place bets strongly on the benchmark once the yield hits that level.

Srivastava expects the benchmark Brent crude contract to rise above $100 per barrel, with the 10-year U.S. yield hitting 5%. This would give a good opportunity to build fresh 10-year India bond positions, he said.

The CIO expects the dollar to strengthen further and inflationary pressures to persist, potentially pushing the Federal Reserve to hike rates one more time and triggering the U.S. yield's move to 5% during the next quarter.

The 10-year U.S. yield hit a 16-year high of 4.5660% on bets of higher-for-longer interest rates and has jumped nearly 47 basis points so far in September.

India's benchmark bond yield was last moving at 7.15%. It had eased to a two-month low of 7.07% last week after JPMorgan included India in its emerging market debt index.

The yield had been struggling to convincingly break the key 7.25%-7.26% levels recently.

"The index inclusion was a surprise, but the fact remains that it was already in the prices. Hence we saw an immediate reversal. Actual flows may start only later," Srivastava added.

"We are waiting for an opportunity to deploy cash, and we expect bond yields to rise in the fiscal second half," he said.

(Reporting by Dharamraj Dhutia; Editing by Swati Bhat and Janane Venkatraman)

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July 28 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• JUNE-QUARTER PAT 2.88 BILLION RUPEES VERSUS PROFIT 2.13 BILLION RUPEES

• JUNE-QUARTER NET PREMIUM EARNED 30.44 BILLION RUPEES VERSUS 26.87 BILLION RUPEES

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May 9 (Reuters) - Star Health and Allied Insurance Company Ltd STAU.NS:

• TOTAL GROSS DIRECT PREMIUM IN APRIL 2023 IS 8.23 BILLION RUPEES, UP 25% YOY

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