Ahmedabad: Cholamandalam MS General Insurance Company Ltd, a joint venture of the Rs 9,582-crore Murugappa Group and Japan’s Mitsui Sumitomo Insurance Group, would launch seven to eight new products this year, each in motor insurance, fire and engineering insurance segments. With these, the company would have a bouquet of 28 services.
The company, which crossed the Rs 522-crore of Gross Written Premium (GWP) mark for 2007-08, is aiming to generate a GWP of Rs 1,006 crore in the current financial year, its Managing Director, Mr S.S. Gopalarathnam, told reporters here on Friday. In 2007-08, the company witnessed a growth of 66 per cent compared with the corresponding period the previous fiscal, making it the second most growing general insurance company in India after Reliance.
To increase branches This year, Chola MS is to increase the number of its branches from the existing 100 to 135 across India.
Source: The Hindu Business Line
Tuesday, July 1, 2008
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