Cholamandalam posts GWP of Rs 360 crore as on September

Chennai, Oct 16 (UNI) Cholamandalam MS General Insurance Company, a Joint Venture(JV) company of the Murugappa Group and Mitsui Sumitomo Insurance Group, the second largest Insurance group in Japan, posted a Gross Written Premium (GWP) of Rs 360 crore as on September 30 2008 for the half-yearly results.

A 35 per cent growth had been seen over the last year in the same period, a company release here said today, adding the company has achieved an operating profit of Rs 7.8 crore and a market share of 2.30 per cent. To further accelerate its growth, Chola MS was looking at enhancing its branches from current 100 to 135 in the next six months.

Commenting on the results, S S Gopalarathnam, Managing Director, Chola MS said, "the company had made this possible through prudent underwriting and strong claims management processes".

UNI WS KVV 1825