CHENNAI: V Jagannathan, the 78-year-old founding father of Star Health – the nation’s first standalone medical health insurance participant – has exited the corporate that he arrange in May 2006. Jagannathan, who resigned from his position as non-executive chairman, plans to arrange a brand new enterprise.
“There are a lot of avenues. I will finalise and announce my plan shortly,” Jagannathan informed TOI. Last month, Jagannathan, who was the corporate’s chairman and CEO since its inception, had handed over the day-to-day operational obligations as deliberate to Anand Roy, who’s now CEO & MD.
The firm posted a document internet revenue of Rs 618 crore for FY23 and registered a gross written premium (GWP) of Rs 12,952 crore, a progress of 13% over the earlier fiscal. Jagannathan began his insurance coverage profession in 1970 and was related to public sector insurer United India. Jagannathan had turned United India prospects round to optimistic, earlier than beginning Star Health together with ETA Group in 2006.
While the ETA group had profitably exited the corporate, the present promoters’ internet price has additionally gone up. The firm is now publicly listed and has a market cap of over Rs 30,000 crore.