Chola MS tops Rs 4,000 crore in premium during FY18

Chennai: Cholamandalam MS General Insurance Company, a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group, Japan has reported a Gross Written Premium of Rs 4,103 crore during FY2018, registering a year on year growth of 30.9%.

During the year FY 2017-18, the company said the Combined Ratio (CoR), which is a measure of an insurance company's claims performance, improved 100.79% in from 101.25% in the previous year.

Profit before tax grew 16.7% to Rs. 347 crore, supported by strong investment income of Rs 489 crore with an investment corpus of over Rs 6300 crore, it said. The company’s board also declared a dividend (second consecutive year) at 6%.


Chola MS has a market share of 3% in the private insurance market. The company said that retail has been the dominant growth strategy with Motor, Health & Crop insurance contributing over 80% of the premiums across metros & other cities. S Gopalarathnam, Managing Director said, “We have been able to achieve this growth without any capital infusion over the past 5 years with a healthy Return on Equity of 20.5%. I take this opportunity to thank our employees, our Joint Venture partner – MSI Japan, our business partners for the support over the years.”