Cholamandalam MS General Insurance Company Ltd (Chola MS), a joint venture between the Murugappa Group and Japan’s Mitsui Sumitomo Group, reported a profit before tax (PBT) of ₹681 crore for FY25. This figure includes a one-time income of ₹54 crore resulting from the recovery of investments written off in earlier years. In comparison, the company had posted a PBT of ₹444 crore for FY24.
The company’s gross written premium (GWP) stood at ₹8,328 crore, registering a 10 per cent growth, which, as per the company statement, is higher than industry growth rate.
In compliance with the regulatory change effective October 1, 2024, regarding the reporting of GWP for long-term non-motor products, Chola MS has classified premiums related to future accounting periods as ‘premium in advance’, amounting to ₹249 crore.
“We are humbled by this progress and will keep up this momentum. We are committed to delivering sustainable value to all our stakeholders,” said V Suryanarayanan, Managing Director of the company.
Chola MS concluded the financial year with a net worth of ₹2,999 crore, 85 per cent of which is derived from earned profits accumulated over the years. The company’s return on equity (RoE) for the year stood at 16.91 per cent, an improvement compared to 13.3 per cent in the previous year.
The market share of Chola MS among multi-line insurance players has increased to 3.15 per cent.
The investment corpus of the company has crossed ₹18,000 crore with increased diversification across the portfolio. The solvency margin improved to 2.18 times, well above the regulatory requirement of 1.5 times.
Over the course of the year, Chola MS expanded its customer base, strengthened its network of business partners, and successfully retained all its bancassurance relationships.
The company also recorded non-crop insurance coverage across over 1,68,000 Gram Panchayats in the country, insuring more than 52 lakh units/lives. In addition, it handled over 6 lakh non-crop claims during the financial year.
Chola MS is rapidly advancing its digital transformation initiatives to enhance customer experience across all touchpoints and has made significant progress in this regard, the statement added.
Published on April 27, 2025
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