The founder of one of the biggest personal sector well being insurers Star Health and Allied Insurance Company Ltd Venkatasamy Jagannathan has tendered his resignation from its Board with rapid impact, business sources stated on Sunday. An business veteran, Jagannathan had stepped down from his function because the Chairman of the city-headquartered agency in May.
“…we wish to inform you that Venkatasamy Jagannathan vide e-mail dated June 10, 2023 has tendered his resignation from the Board of the Company with immediate effect from June 10, 2023,” Star Health and Allied Insurance Company Ltd stated in a BSE submitting on Saturday. Jagannathan, after attaining superannuation from the United India Insurance as its Chairman and Managing Director, based Star Health and Allied Insurance with the backing of Dubai-based ETA Group.
“We started with just 12 people, rented premises with Rs 30,000. Star Health is now valued at more than Rs 30,000 crore,” he stated. According to firm’s FY 2021-22 annual report, Star Health is current in 26 states and 4 Union territories. The firm’s distribution community is supported by 807 pan-India branches. Nearly 39 per cent of the corporate’s revenues have been contributed from South India, 23 per cent from western components of the nation, 30 per cent from north India and 8 per cent from east India as of March 31, 2022.
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