Insurance veteran V Jagannathan, known for establishing Star Health Insurance in 2006 after retiring as CEO of a public sector insurer, is planning to launch another health insurance company.
The move comes weeks after Mr Jagannathan resigned with immediate effect in June 2023 as chairman of the standalone health insurer, according to a report by The Times of India.
Sources say that Mr Jagannathan has not signed a non-compete clause with Star Health.
Industry sources say that having cashed out of Star Health, Jagannathan has the resources to set up a health company. He also has potential investors. Industry observers say that the health insurance business has been growing rapidly in India, and the entry of new players will not impact Star Health.
