V. Jagannathan
Galaxy Health and Allied Insurance Company is a joint venture between V Jagannathan’s family, who had earlier the founded Star Health Company and TVS group. Former Star Health CEO Dr S Prakash has also joined the new venture as a CEO.
Hyderabad: Galaxy Health and Allied Insurance Company, a stand alone health insurer, set up by V. Jagannathan, who had earlier founded Star Health Company, and TVS Group, has received the license at the shortest possible time from the Insurance Regulatory & Development Authority of India (IRDAI).
The IRDAI, in its 125th board meeting held on 19 March, 2024, has granted license to the seventh stand alone health insurer- Galaxy Health and Allied Insurance- to carry out business in India.
This is the sixth new license granted by the IRDAI in around one year in Life, Non-life and Health Segment, added the IRDAI.
Galaxy Health and Allied Insurance Company is a joint venture between Jagannathan’s family including his wife and son Dr Sai Satish, an internationally renowned senior interventional cardiologist based in Chennai and TVS group, which will be the majority share holder in the company.
Jagannathan has also former Star Health CEO Dr S Prakash joining him as the CEO of Galaxy Health Insurance.
Sudarshan Venu, MD, TVS Motor Company, will be the chairman of the new joint venture, which will have an initial capital of over Rs 200 crore.
Galaxy Health Insurance will have an all India focus from the beginning and have many innovative health insurance ideas for the customers.
Earlier the IRDAI had given license to Narayana Health Insurance Limited(Narayana One Health), set up by Bangalore-based multispecialty hospital chain Narayana Hrudayalaya Ltd or Narayana Health promoted by well known cardiologist Devi Shetty.
Other standalone players in the sector include Care Health, Aditya Birla Health, Niva Bupa, and Manipal Cigna.
Post-Covid, the health insurance sector has been recording a remarkable growth, overtaking the previously dominant motor insurance segment. With a growth rate exceeding 30 per cent, health insurance has emerged as the fastest-growing segment in the industry.
It is expected that total health insurance premiums will surpass Rs 1 lakh crore in the current financial year, a notable increase from the Rs 90,667 crore recorded last year.
With the robust growth witnessed in the health insurance segment, several other players including Apollo Hospital, which had earlier exited the business earlier, are exploring the possibility of setting up health insurance companies to capitalise on this burgeoning market.
Congrats sir
Congratulations VJ sir
Hearty congratulations Sir 🎊🎉👏
I have 13 years Experience in Insurance industry i am ready to join this company give me chance 9000321244
Congratulations sir
Congratulations Sir
💜❤️💜❤️💜❤️💜❤️💜
Hearty congratulations Sir
Congratulations, sir
Congratulations 🎉
Congratulations
𝗛𝗘𝗔𝗥𝗧𝗬 𝗖𝗢𝗡𝗚𝗥𝗔𝗧𝗨𝗟𝗔𝗧𝗜𝗢𝗡𝗦
Congratulations for getting the licence. Hope the company will bring some affordable health insurance policies.
Congratulations VJ sir
Congratulation to Mr. V. Jaganathanji.
Congratulations sir
If a Padma award is ever mooted from one among the Insurance industry, Im sure Shri V. Jagannathan deserves to get it for his contributions to the Industry
Great creator. With commitment and dedication. Congratulations. Alnageswararao ex gm andhra bank. raoaln29@gmail.com. 9652917942
Congratulations Sir
9175929334
Congratulations VJ sir
Congratulations VJ Sir and Team.
Abhijit Biswas,SSM, Starhealth Insurance
Dibrugarh,786001
Sir, what kind of special features your company will provide to the people? Can the common man pay your premium?
Sundaresan
Congratulations and wish a great days ahead
Congratulations sir 🎉🎊
I am not surprised. After all, he is the Father of Health Insurance in India. The Health insurance industry owes him a lot ..!
That Is why he is called V(isionary) Jagannathan…!
Wishing your company many milestones sir
Congrats sir
Congrats Sir
Congratulations sir ! …
Interested
Excellent Sir
Sir
Chandrkant shetkar from. Bidar. Karnataka state. A very hearty congratulations.
Sir
All the best
Interested to join your company
Congratulations sir
Interested join your Galaxy Health
CONGRTULATIONS, SIR
Congratulations. The only concern is that the health insurers seem to ignore elders in the age group 70 plus, inspite of extended waiting period and higher premium.
Sir There is already a policy with full facility at very low premium for your age
Congratulations Sir …
Dear Sir,
I have served star health insurance in customer care department for 5 years.
Hence I am looking job in your new organisation.
Greetings
Congratulations, everything you touch turns gold
Congratulations boss for New company I am ex employee Star health
Sr, Good morning. I’m very surprised about this. All the best. 🤝💐
Many many Agents waiting….
Excellent decision
As Shri Jagannatham Sir and Dr. Prakash are our mentors in health insurance business
I am also Ready
Hearty congratulations sir
You are a great visionary of health insurance
Congratulations Sir
Congratulations sir
Excellent sir
Super sir
Greetings and my hearty Congratulations
Welcome sir
Sir, congratulations for you, your family & your new Galaxy family! It’s a significant milestone that reflects your dedication and expertise in the field. Wishing you continued success as you embark on this new venture.”
Greetings and wish you a happy birthday
it’s great and my hearty congratulations to the vibrant team of Galaxy headed by “the Man of innovation in Insurance Industry”,
Shri.V.Jaganathan.
my wishes to the Bud Galaxy to go many more Heights.
Hearty congratulations to Dr Sai with our best wishes and blessings
Best Wishes to entire Galaxy team on this new venture
Excellent move. Wishing you continued success. Glad that Dr Prakash is with you.
Great Sir
Congratulations Sir
Mr. Jagannathan Sir is our role model. He is very humble and helpful persons in this universe.
Today STAR HEALTH INSURANCE is a brand because of Mr. Jagannathan Sir and Mr. Naik Sir. They are great human beings.
Welcome
Congratulation Sir. Best wishes for your new company.
Congratulations
Iam interested
Congratulations sir on securing the insurance license for your company! Your vision and hard work have paved the way for this achievement. Wishing you all the best as you build and grow your insurance business.
Congratulations Sir. You have in the past achieved in launching health insurance industry with a determination and made it successful. Now you have gone for next achievement of getting IRDA’s licence for your new standalone health insurance company in a recorded time. Wish you at the success and a long life to serve the public.
All the best sir
Very good move
Very good evening sir. This is another milestone for you. God is blessing your great efforts. Many more congratulations sir. With best regards G.A.KANNAN.
Very nice
Wishing the company a good future..
Very good
Congratulations sir
Many Congratulations Sir.
All The Very Best Galaxy Team.
Congratulations sir
Congrats Sir
Congratulations Sir
T R VENKATACHALAM
EDAYARPALAYAM
THADAGAM ROACOIMBATORE
641025
Congratulations Sir
Congratulations Sir
Good morning to Galaxy(Star) team and respected Mr Jagganthan sir!. My best wishes to make Galaxy better than the earlier company and trustworthy with satisfying SERVICEs. Live prosperously.Mathivanan.
Congratulations sir..From
Ramakrishnan N
Last 16 Years Agent in
Star health insurance..,
Very nice
Hearty congratulations sir
Thanks Sir ,
I am very happy to know about the opening of our new health insurance company Galaxy
And I am sure It will flourish and achieve great heights of success
Dr.Abhijit Banerjee
Kolkata
Super sir congratulations sir
*** I hope your new business venture brings you prosperity and success ….
*** Wishing you all the best as you embark on this exciting new chapter ….
*** May your new business thrive and bring you endless opportunities ….
*** Cheers to the grand opening of your new business !!!!
Hearty congratulations and wish you best of luck in new venture. May your Galaxy shine better than Star
Congratulations sir
Taking Efforts all success in future with you sir
Congratulations sir
Congratulations sir
Ayya policy for visually impaired also offers in-patient stay in hospital
I am requesting for a policy which will also provide food allowance
You are an inspiration ! You are the inspiration ! You are the Brightest Star in the Insurance Galaxy !
SURENDRA GOYAL, Congratulations Sir, UIICO. Agent since last 30 years & Star Agent since last 4 years. Dedicated to Only Health Insurance
Sri. Jagannathan sir, is a visionary. Hearty congratulations sir. I never thought license by insurance regulator IRDAI will be issued so fast. When he was heading Star Health, the insured were taken care well in terms of settlement of claims. We can trust this company partnering with ethical company like TVS group
Congregation sir..
Welcome to New Company GALAXY & Mr. Jagannathan Sir
Awaiting to join with Sri. Jagannathan Sir
PURUSHOTHAMA C
Ex Sales Manager
Star Health & Allied Ins. Co. Ltd
BANGALORE
ckgkuteera@gmail.com
9241711435
Hearty Congratulations sir!
You are the inspiration of health insurance sector and setting pathways for claim settlements….
Congratulations & wishing you all GALAXY team,Dr S Prakash Sir & Sri. Jagannathan Sir🙏
Dr Alok
Bhubaneswar
Odisha
Again, Tamilnadu’s Galaxy Team going to rock and break other health insurance companies’ achievements soon.Wait and watch Mr.Jaganathan’s game…..congratulations sir
I have worked as sales manager in Star health & allied insurance co.ltd for about 5 years. I didn’t have the chance to see you face to face but I heard about you in the zoom meeting. I am sure Galaxy health & allied insurance co.ltd will be successful. I will be waiting for your branch office in Siliguri.