After main a cheerful skilled life, one eagerly anticipates retirement. Venkatasamy Jagannathan, the founding father of Star Health and Allied Insurance Company Ltd., one of many greatest non-public well being insurers, has chosen a unique technique. The 78-year-old Jagannathan intends to launch one thing “new” within the subsequent two months after resigning as Chairman.
The veteran remarked, “I’ve always believed that every beginning has an end, and every end has a beginning. God willing, I am hoping to start something in the next two months. It might be in any field, but it will be something that is important to me,” declining to go into larger element, in accordance to PTI.
In 2001, United India was ramping up losses of Rs 50 lakh prior to him assuming management as chairman and managing director (CMD). It recorded a revenue of virtually Rs 400 crore after he departed in October 2004. On June 3, 1970, Jagannathan started his profession at Hercules Insurance Company, then, he moved on to United India as an administrative officer.
When Venkatasamy Jagannathan based Star Health and Allied Insurance Company (Star Health) in May 2006, he and his 12 employees members have been residing in a vacant flat on Madha Church Road in Chennai for simply round Rs 30,000 a month in lease. The enterprise has superior considerably because it at present employs greater than 14,000 folks for a enterprise price over Rs 30,000 crore.
Throughout his illustrious 53-year profession, the 79-year-old trade veteran has retired a number of instances. He had beforehand written a real revival narrative with the government-run United India Insurance Company (United India) prior Star Health.
He teamed up with ETA Star Group to launch Star Health after he had retired. To examine each element of every invoice, the enterprise assembled a workforce of physicians. It now employs 400 docs and has one in all India’s main medical health insurance suppliers, which incorporates 13,000 services.
READ | Meet IIT grad, who wished to be a cricketer, CEO of Rs 13,38,65,85 crore company, earns Rs 44 lakh each day, internet price is..
