G Srinivasan,MD &CEO, Galaxy Health Insurance Company
Earlier, Dr S Prakash, former CEO of Star Health, who also quit Star Health along with Jaganathan, was supposed to be first the CEO of Galaxy Health Insurance. However, Prakash wants to be an investor of the company and IRDA’s new regulations prohibit an investor with more than 10 per cent to be the CEO of the same company. Dr Prakash has quit the company recently
Hyderabad/Chennai: Industry veteran Gopalan Srinivasan,66, one of the longest serving CMDs in the PSU general insurance space is now back in the industry, in an executive role, as the first CEO of the new stand alone health insurance company- Galaxy.
It is reliably learnt that Srinivasan’s name as the CEO of Galaxy is pending for the approval of the regulator IRDAI though, he has already joined his new job. He will be based in Chennai where the head office of Galaxy is located.
Galaxy Health and Allied Insurance Company, promoted by V. Jagannathan, who earlier had founded Star Health Company, and TVS Group, had recently received its license at the shortest possible time from the IRDAI and has appointed Srinivasan as its first CEO.
Earlier, Dr S Prakash, a former CEO of Star Health, who also quit Star Health Insurance along with Jaganathan, was supposed to be first the CEO of Galaxy Health Insurance.
However, Prakash wanted to be an investor of the new health insurer and IRDA’s new regulations prohibit an investor with more than 10 per cent to become the CEO of the same company.
Prakash, with almost 10 per cent stake in the company, has quit the company recently.
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, who together hold 75 per cent in the company and Prakash and TVS Group are rest of the stakeholders of the company.
It will have an initial capital of over Rs 200 crore.
This was the sixth new license granted by the IRDAI in around one year in Life, Non-life and Health Segment, added the IRDAI.
Galaxy Health Insurance will have an all India focus from the beginning and have many innovative health insurance ideas for the customers.
Srinivasan had joined New India Assurance, India’s largest non-life company in 1979. He has served as the CMD of New India Assurance and United India Insurance .
He is also a member in Agam Capital’s Global Strategic Advisory Board and an independent director at Medi Assist Healthcare Services , the largest third party administrator(TPA) , Agriculture Insurance Co. of India Ltd., Institute of Insurance & Risk Management(IIRM), Navi General Insurance Ltd., PB Fintech Ltd. Valueattics Reinsurance Ltd, promoted with the partnership of Prem Watsha and Kamesh Goyal and has applied for a license to become the first private sector Indian reinsurance player.
All the best
Eagerly waiting for your new products.
Wish you all the best 👍🏿
Wish you all the best.You will proved to be assess for the organisation.
Best wishes for the new company and CEO shri Srinivasan ji
It gives me a happy news that Sri G. Srinivasan was appointed as first CEO of Galaxy health insurance
Being a New Indian family retired as Sr. Branch Manager from one of branches in Andhra Pradesh, we wish him all the best in his new Assignment.
Having good exposure in general insurance industry he will take the company image to heights amongst all standalone insurance industry.
Wish you ALL THE BEST SIR..
Sir,
All the best.I retired as DGM from NIC and headed the Chandigarh RO.I am interested in job if you please give me the opportunity.
All the best to Mr G Srinivasan. He will definitely take the Galaxy Health insurance Company to greater heights.
Congratulations. Mahaganapati bless you with all prosperity and all success in your new assignment. Ashirwadams
Sir’s tenure with NIA and UIIC is excellent
Congratulations Sir
All the best for new assignment to respected shri Nivasan sir
It’s really a great news that RTD. CMD. Of New India Assurance Co. Who is going to take change as CEO. Of M/S Galaxy Health Insurance shortly. We are confident that he will takes the organization to the greater heights by improving quality of services add on innovative measures.
Congratulations and Wishing you All success sir
Best wishes and prayers for the best for CMD and Galaxy
Ashok Kumar P
All the best for your new ventures and hope Company will be Number One under your leadership as THE NEW INDIA ASSURANCE COMPANY LIMITED.
Sir, in your tenure in NIA as CMD you were one of the dynamic CMD, you not only think about the welfare of employees, but also think about the heights of the organization
Mr.G.S. I am glad to know about your new assignment. I wish and bless you that as usual you will put your full efforts for the growth of the organisation, where ever you are. Because you are a “NEW INDIA PRODUCT”.
K.T.KANNAPIRAN,
MANAGING DIRECTOR,
THE GALAXY INC,
CHENNAI.
Many many congratulations sir for new venture. Looking forward to join and work with the great leaders
Sir Congratulations. God bless you for grand success.
Dear team
Im willing to join as an intermediary, kindly intimate me
Gopal A K
To. Mr G Srinivasan, CMD , Galaxy Health Insurance. My best wishes for your new assignment. I am confident that under your dynamic leadership, this new company will create a history in health insurance segment.
Best of Luck.
Regards.
Dr H L Jaiswal
BVSc (Hons) , MVSc, FIII, MBA,
Principal Officer & GM ( Mktg )
Nivesh Insurance, New Delhi
Best wishes Mr G.Srnivasan.
Mr V.Jaganathan vast experience in field of Heath Insurance & combined with your vast experience would be Creating History in the coming days.
God bless you in your new venture .
Very glad M Srinivasan is appointed as CEO of Galaxy ! With his wide exposure he can take Galaxy to new heights 🌷
May God bless you 🌷
Glad to know Sir. All the best
Very good news Mr. G Srinivasan is an Assest for the Country.
Dynamic, visionery of the insurance and finance line, sure he will put his best, for the new assignment.
Sir,
Wish you all the best. Eagerly waiting for New Product of Galaxy Health different from the market.