Ad Here  
Hyundai excites again Three more leather clusters… Dynamic e-commerce scenario Scoot offers just Rs.13,500 to ANZ... TiE applauds innovative entrepreneurs Applauding enterprise... Downsizing spree... Business Briefs Durga - India’s largest blast furnace; now operational Brand leaders come forward... LVB gears to become a financial supermarket Illicit markets a concern to growing economy Research needs more funding Waste, a gold mine ECGC expands operations Airlines wage price war Striking cords for 25 years… Economic issues take a back seat at G20 summit Big-ticket investments march towards Punjab TN budget pragmatic and moderate on fiscal deficit Strategy war escalates between Hero and Honda Is Indian telecom industry heading for a monopoly? Indigo stays leader with 40 per cent share Housing Innovation Challenge, 2015 - Time to fast-pace the logistics sector AirAsia India infuses funds to fight out competition Murugappa- a year of consolidation Creating Tamil Nadu Banana brand Chennai will soon get its World Trade Centre Schwing Stetter India joins hands with US-based Gomaco The new look- 4s Verna An American alliance in the chemical industry? Chennai Port is at last decongested! Steel loses its sheen Automotive Vision Plan II... Backpack laboratory WABCO’s second Chennai plant Chennai to get a roundabout Metro SumInfra- corridor based development... Pharma market dozes A global plastic event in India Adding Zest to Scooty On the ‘milky’ way TVS Logistics – another acquisition to sharpen the business model Changing dynamics in human resource management Industry-well poised to invest on expansion Realising double digit growth in Tamil Nadu TOP 10 CEO Compensation Towards peace of mind Apple maps – finding its way Nothing to hide... Well-refined – RIL’s refinery margins zoom Smart controls for cooling large multi-zone spaces ... Inclusive and forward moving... ALL – truck industry is recovering from degrowth Indian Bank – global businesses crosses Rs 3 lakh crore... Veritas Finance- financing the unfinanced Make way for the new and dynamic railways Blue Star plans a new plant in south IFCI to raise NCDs upto Rs 2000 crore Focus on self-certification and third party inspection Climate change may change the way businesses work... Celebrating 180 years of relevance Hero Motocorp - smooth ride Nigeria comes nearer Chola MS net crosses 100 crores Four daughters and a proud father Economic, business and social sustainability Curbing steel imports will hurt small business... CUB: towards card-less withdrawal Techies trip to India Carrefour’s quick exit OBO Bettermann for better lightning protection Flexible labour laws… TII-challenging year with flat growth Celebration time at MS Chola Placing the right shoe forward... TII’s single largest investment at Thiruthani ALL to launch electric busses Connecting the unconnected When Centre visits the state Gem of social service... Tata Steel commence operations at Kalinganagar Sun Edison launches solar pumps European crisis is a global crisis! ISRO's 100th mission Purdue and IIT-M sign the dotted line Business Breif Reality bytes Ridley marathon to India People Flow Day- Safety Investor friendly Japan TCS’ revenues cross Rs 100,000 crore Realty sector takes a break... World labour laws at a glance Digital retail transactions stabilise at higher level… STFC raises money Secured NCDs from Shriram City Rating of states to be released soon Need to focus on ease of doing business... More gensets and diesel engines from TAFE Bridging the skill deficit in pharma industry An aerospace-defence cluster in Tamil Nadu… Innovation that helped Chennai port BRICS development bank ALL-two launches in a row Holiday Inn opens in OMR Chennai Chola MS launches motor app Auto test tracks launched at GARC Oragadam campus
Chola MS net crosses 100 crores

The 2013-14 fiscal has turned out to be a great year for the Cholamandalam MS General Insurance Company. This JV between business conglomerate Murugappa group and Japan’s largest insurance group, Mitsui Sumitomo, has achieved a gross written premium (GWP) of Rs. 1855 crore. The profit after tax (PAT) surged to Rs.70 crore this fiscal, from Rs.60 crore last year.  The combined operating ratio during the FY 2013-14 before absorption of motor and declined pool losses was 101.3 per cent. The solvency margin for this year stood at 1.61 (1.42).

Managing Director S S Gopalrathnam reckoned that the company’s strategy of identifying the niche markets and nurturing them had paved the way for the company’s handsome growth. He said the company targets Rs.2500 crore GWP, PBT of Rs.225 crore and PAT of Rs.180 crore.  The company has added 4500 people in the retail side of the business and expects to add another 9000 next year.

    Cholamandalam MS has grown at a pace of 14.5 per cent, much faster than the industry average of 12.5 per cent. This year the company’s health and commercial sector grew at 11 per cent and the company wants this to increase to 20 per cent. The company plans to achieve this target within five years. The company has settled claims of around Rs 100 crore(mostly cars) for the Uttarakhand floods.


Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236