V Jagannathan, former CMD of United India Insurance, has retired from his position as non-executive chairman and director of Star Health and Allied Insurance Company. Jagannathan started Star Health, India’s first standalone health insurance company, in May 2006 after retiring from the government-owned insurance company. The company started with 12 employees working in a small room in Chennai. Today, the company’s market cap is around INR 30,100 crore and has around 14,000 employees. Jagannathan, who is 78 years old, is now preparing to start a new venture.
Jagannathan started his career in the insurance industry with the Harcules Insurance Company in 1970. During nationalisation, he joined United India as an administrative officer and later rose to the position of CMD. He is credited with taking the company to new heights. When he was appointed as the CMD of the company in 2001, it was running at a loss of around INR 50 lakh. When he retired in October 2004, the company was making a profit of over INR 400 crore. After retiring from the government-owned company, he started Star Health in partnership with Dubai-based ETE Group.
Jagannathan believes that age should never be a hindrance to work. If one works with determination, success will follow. He is now looking to start a new venture in the coming months. He feels that every end is a new beginning, and he is ready for the next chapter in his life.
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