Meet V Jagannathan, who built Rs 30,000 crore company after retirement, now set to start new project at 74
Venkatasamy Jagannathan intends to launch something "new" in the next two months after resigning as Chairman.
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| Edited By: DNA Web Team |Source: DNA Web Desk |Updated: Jun 12, 2023, 05:26 PM IST
After leading a happy professional life, one eagerly anticipates retirement. Venkatasamy Jagannathan, the founder of Star Health and Allied Insurance Company Ltd., one of the biggest private health insurers, has chosen a different strategy. The 78-year-old Jagannathan intends to launch something "new" in the next 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 greater detail, according to PTI.
In 2001, United India was ramping up losses of Rs 50 lakh prior to him assuming control as chairman and managing director (CMD). It recorded a profit of almost Rs 400 crore after he departed in October 2004. On June 3, 1970, Jagannathan began his career at Hercules Insurance Company, then, he moved on to United India as an administrative officer.
When Venkatasamy Jagannathan founded Star Health and Allied Insurance Company (Star Health) in May 2006, he and his 12 staff members were living in a vacant flat on Madha Church Road in Chennai for just around Rs 30,000 a month in rent. The business has advanced significantly since it currently employs more than 14,000 people for a business worth over Rs 30,000 crore.
Throughout his illustrious 53-year career, the 79-year-old industry veteran has retired several times. He had previously written a true 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 investigate every detail of each bill, the business assembled a team of physicians. It now employs 400 doctors and has one of India's major health insurance providers, which includes 13,000 facilities.