Dr. J. Retnakumar

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Dedicated to Serving Humanity

Dr. J. Retnakumar

Chief Executive, Insurance Service Centre-Oman
Global Chairman, World Malayalee Federation

Despite holding numerous prestigious positions, Dr. J. Retnakumar, the Chief Executive Officer of Insurance Service Centre in Oman, attributes his youthful energy and vibrancy to his unwavering commitment to helping others.

Originating from the beautiful town of Thalassery in Kerala’s Kannur district, Dr. Retnakumar completed his early education at St. Joseph’s Boys’ High School, Thalassery. He earned a Master of Veterinary Medical Pathology (M.V.Sc) from Kerala Agricultural University in Thrissur in 1987 and later pursued a postgraduate diploma in Health Insurance Management from Symbiosis university, Pune and research analysis ( comparative Analysis of all health insurance schemes in Oman ) at the College of Banking & Financial Studies in Oman.

With over 36 years of executive leadership experience in general and health insurance, Dr. Retnakumar excels in strategic planning, market analysis, and operational efficiency. His expertise in product innovation, risk assessment, and stakeholder management has consistently driven profitability and growth. He is adept at building high-performing teams and implementing cost-saving strategies, making him a significant asset for organizations seeking to enhance their market presence and operational excellence within the dynamic healthcare sector.

As the CEO of Insurance Services Centre in Muscat, Dr. Retnakumar has initiated strategic measures to improve operational performance and achieve financial objectives. He has developed robust communication frameworks to foster team collaboration and has managed organizational functions while evaluating employee performance to ensure alignment with company goals.
His innovative leadership has led to the implementation of cost-saving strategies that enhance operational efficiency and sustainability, while also maintaining strong relationships with stakeholders as the primary contact for key business decisions.

Dr. Retnakumar served as the Chairman of the Technical Committee for Life & Medical Insurance within the Oman Insurance Association, registered with the Government of Oman. From May 2014 to June 2015, as the CEO of VPS Healthcare – Lifeline Hospitals Group in Muscat, he led strategic initiatives to improve service quality across healthcare facilities.
 Under his guidance, the group provided comprehensive medical insurance services while ensuring compliance with industry standards, achieving significant corporate growth of 64% in a competitive market. During his tenure, the group partnered with health ministries and insurance organizations to advance universal health insurance initiatives.

Prior to VPS Healthcare, Dr. Retnakumar was the CEO of Gargash Insurance Services in Muscat from June 2010 to April 2014, where he directed strategic growth initiatives to position the company as a leading insurance provider in Oman. He established relationships with national and international insurers to broaden service offerings and enhance market presence, successfully growing the company’s portfolio from zero clients to a substantial market share within two years.

As the Chief Operating Officer of New India Assurance in Muscat from 2005 to 2010, Dr. Retnakumar was instrumental in introducing health insurance in Oman in 2006, marking the company’s entry into this market. He launched ‘COMPASS,’ a comprehensive personal accident security scheme for housemaids, addressing the needs of an underserved demographic. Additionally, he organized the national safety campaign ‘Safety First, Insurance Next’ in 2008, raising safety awareness and enhancing the company’s public image.

In 2009, New India Assurance was awarded ‘Best Brand of Insurance in Oman’ by Oman Observer, highlighting the company’s excellence and strong market reputation. Under Dr. Retnakumar’s leadership, the company achieved a remarkable 300% increase in premiums over three years, solidifying its market dominance in Oman.

Dr. Retnakumar is a Certified Takaful Professional and has received a Certificate of Appreciation from the Ministry of Health in Oman for his contributions to the International Symposium on Universal Health Insurance. He has completed a Management Development Programme at New India Assurance and has specialized training in healthcare management, risk inspection, and insurance product design. He was awarded Associateship of the Insurance Institute of India in 1998.

In his social capacity, Dr. Retnakumar serves as the proactive Chairman of the Indian Science Forum, promoting science among the youth in Oman. The Indian Science Forum, formerly known as Science India Forum Muscat, is registered under the Indian Social Club (ISC) since 2022, with its educational activities supported by India’s NCERT and the Department of Science and Technology.

As the esteemed Global Chairman of the World Malayalee Federation, which has a presence in 164 countries, Dr. Retnakumar has previously held positions as Oman National Coordinator and Global Coordinator for the organization. Founded on September 21, 2016, and headquartered in Vienna, Austria, the World Malayalee Federation is a non-profit organization recognized for its commitment to global socio-cultural activities, accredited with Norka Roots, which addresses the grievances of Non-Resident Keralites.

Dr. Retnakumar also chairs the Malayalam Mission in Oman and is a member of Loka Kerala Sabha, as well as the president of the Overseas Indian Legal Service Society. To promote art and culture, he founded Bhavalaya in April 2010, an organization dedicated to fostering collaboration among artists from diverse cultures and heritages, offering a platform to celebrate and document the arts.

Dr. J. Retnakumar’s legacy of unwavering dedication and visionary leadership is deeply intertwined with his passion for service and global collaboration. His multifaceted roles and relentless efforts have not only transformed the insurance and healthcare sectors in Oman but have also made a lasting impact on the global Malayalee community. Through his strategic foresight and compassionate leadership, he continues to inspire and lead, leaving an enduring influence on countless lives around the world.