Cholamandalam MS General Insurance Company Ltd. is a Joint Venture between the USD 3 billion Murugappa Group, one of India’s leading business conglomerates and Mitsui Sumitomo Insurance Company Limited, which is part of the Mitsui Sumitomo Insurance Group of Japan, the largest General Insurance Company in Japan and 5th largest insurance group globally.
Offerings of Cholamandalam
- Liability and Marine
- Travel and Rural
About Murugappa Group
The Murugappa Group, a conglomerate of US$ 2.4 billion have its headquarters in Chennai, with interest in the field of engineering, abrasives, sanitaryware, fertilizers, finance, bio-products and plantations has 29 companies under its umbrella. Eight out of these 29 companies are listed and are actively trading on the National Stock Exchange and the Bombay Stock Exchange. The group boasts of more than 28,000 employees, being one of the oldest business houses of India. They also have a presence in UK, USA, Australia, Canada, South Africa, UAE, Thailand, and China
About Mitsui Sumitomo Insurance Group
Mitsui Sumitomo Insurance Group is one of the biggest insurance groups in the globe, operating in the non-life insurance, life insurance, financial services and risk management services space.
The core business of the group is in the non-life insurance sphere, spanning across 38 countries across the globe. The net written premium amounted to US$ 12.65 billion in 2007. With 733 sales bases, 257 claims handling offices and roughly 75,000 agents across Japan, Mitsui Sumitomo have formed a world class sales network. They also offer global services with 63 sales bases across 38 countries and overseas regions.
Advantage Chola MS
Total Risk Management Solutions
We offer a unique combination of efficient insurance services and innovative risk management consultancy to our customers - Total Risk Management solutions. Our group company, Cholamandalam MS Risk Services offers consultancy in the area of risk identification, assessment and suggesting risk control and mitigation measures alongside the Insurance support services. This ensures long-term business continuity for all our corporate customers.
Highest Safety Rating
Cholamandalam was amongst the first NBFCs in the country to acquire a credit rating and CRISIL awarded the" highest safety" rating of FAAA based on the strength of the promoters and the company's track record in managing risks. Today, fourteen years later, the company still holds the "highest safety" ratings-MAAA from ICRA for medium-term instruments like fixed deposits and debentures and P1+ from CRISIL for short-term instruments.
Since 1981, Cholamandalam has a track record of uninterrupted dividend payments. Cholamandalam first went public in 1980 with an issue of Rs. 15 lakh.
For several years, Cholamandalam's main business was equipment finance to corporate borrowers. However, anticipating the limited potential for sustained growth in the business, the company commenced. Vehicle finance in 1991. Today the company finances a wide range of vehicles — heavy and light commercial vehicles, cars, two and three wheelers and tractors - from 161 towns across India.
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