MURUGAPPA MANAGEMENT SERVICES
Cholamandalam MS General Insurance
Cholamandalam MS General Insurance Company Limited is a Joint Venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited, Japan. Chola MS offers a wide range of insurance products that includes Accident, Engineering, Health, Liability, Marine, Motor, Property, Travel and Rural insurance for individuals and corporates.
Chola MS champions a brand philosophy called T3, which stands for Trust, Transparency and Technology. It has also been consistently recognised and awarded by the Government of India, international entities and ratings agencies for its insurance service and delivery innovations. The company has 109 branches and over 9000 agents across the country.
The Company achieved a Gross Written Premium (GWP) of Rs. 31,333 million registering a robust growth rate of about 28% over the previous year. The Company's market share as at March 31, 2017 was 2.76% (among general insurance companies).The growth was driven by new partnerships secured during the year and strong growth achieved in proprietary channels. Together with investment income, the Company recorded its highest ever operating profits. Profit before tax increased from Rs. 2,131 million to Rs. 2,971 million for the year ended March 31, 2017.