Cholamandalam MS General Insurance Company Ltd announced a Gross Written Premium of Rs 7,598 crore for the financial year ending March 31, 2024. The company, a joint venture between Murugappa Group and Mitsui Sumitomo Group, reported a profit before tax of Rs 444 crore, up from Rs 264 crore in the previous year. Despite challenges from natural calamities like cyclones and floods, the return on equity ratio improved to 14.15 per cent. Managing Director V Suryanarayanan expressed gratitude to stakeholders for their trust and emphasized the company’s commitment to sustainable value creation. With an investment corpus fund reaching Rs 16,811 crore, Cholamandalam MS General Insurance is focusing on technology transformation, including adoption of Artificial Intelligence and Machine Learning for claims assessment.
Cholamandalam MS General Insurance Reports Strong Financial Performance
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