Cholamandalam MS General Insurance Company has reached a milestone of completing 20 years.
The brand began its operations in 2002 and has consistently grown to expand its presence in over 600 locations. The company, which is a joint venture between the Chennai headquartered Murugappa Group and Mitsui Sumitomo Insurance, Japan has grown to record a Gross Written Premium (GWP) of Rs. 48.24 billions in FY 22.
The company stated that their employees operate with the philosophy of T3 – Trust, Transparency which is aided by Technology. ‘Customer centricity’ is the brand’s essence and it has taken a promise, #pledge2protect.
V Suryanarayanan, Managing Director, Chola MS said, “We would like to thank our policyholders, business partners, reinsurers, employees and shareholders for their continued trust, support, encouragement, and patronage. A special word of thanks to the Regulator for setting the direction for Insurance penetration in the country accompanied by several enablers in the areas of distribution, product approvals and digitization.”
“In the half year ended Sep-2022, Chola MS grew by 30% over the corresponding period to attain a GWP of Rs. 27.69 billion, Investment corpus of Rs. 139.3 billion and a solvency ratio of 2.10 times. Chola MS is poised to grow bigger in size & market share, stronger in its profitability and solvency even as we continue uphold our brand promise – #pledge2protect,” he added
