Chola MS premium rises 31% to touch Rs. 4,103 cr in FY 18

Cholamandalam MS General Insurance Company Limited (Chola MS), a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group, Japan has achieved a Gross Written Premium of Rs 4103 crore during FY 2017-18. This is the third consecutive year the company has reported a GWP growth in excess of 25 per cent, according to a company statement. Retail has been the dominant growth strategy with Motor, Health and Crop insurance contributing over 80 percent of the premiums. Its profit before tax grew 17 per cent at Rs. 347 crore, supported by strong investment income of Rs. 489 crore, with an investment corpus of more than Rs. 6,300 crore.