Chola MS Registers 8% Year-on-Year Growth with a Gross Written Premium (GWP) of Rs. 4,428 Crore in FY19
Cholamandalam MS General Insurance Company (Chola MS), a joint venture between Chennai based Murugappa Group and Mitsui Sumitomo Insurance company of Japan, has gained a Gross Written Premium (GWP) of Rs. 4,428 Crore in FY19, registering 8% year-on-year growth.
Chola MS owns 3% share of the market and has secured 6th ranked amongst many private firms in the industry within addressable markets such as excluding crop, group & government health. The company set a target of Rs. 5,500 Crore for the financial year 2020. In the fiscal year 2019, the combined ratio was 104.60%. The amount of Rs. 314 Crore was registered as the profit before taxes (before exceptional items) with Rs. 7,600 Crore as investment corpus.
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