40 pc GWP growth for Cholamandalam MS Genral Insurance

CHENNAI: Cholamandalam MS General Insurance Company Limited, a Joint Venture between the Murugappa Group and Mitsui Sumitomo Insurance Group, Japan, has achieved a Gross Written Premium ( GWP) of Rs 1,000 crore during the first three quarters of the current financial year, a growth of 40 per cent over the same period of 2010-11.

This is the first time that the company has crossed this mark in its nine year history, the company said in a press release here today.

Cholamandalam MS General Insurance is targeting a GWP of around Rs 1,350 crore in the current fiscal.

The company is focused on growing its retail portfolio through new products in Motor, Health and other lines of business. The company has already introduced five new retail products and plans to launch two to three new products in the last quarter of the current financial year, it said.