Private sector insurer Cholamandalam MS General Insurance
Company Limited will concentrate on increasing its corporate and health
insurance business to get a gross written premium (GWP) of Rs.2,500 crore and
an operating profit of Rs. 225 crore in fiscal year 2014-15, said a company
official.
“We will now start looking at increasing our corporate or
commercial lines of business (fire, transit, burglary and others) and also the health
insurance.
Currently only 10 % of our business is from commercial
lines,“ said Chola MS Managing Director Mr. S.S. Gopalarathnam.
The insurer has registered a 15 % growth in its gross written
premium at Rs. 1,855 crore in the fiscal year ended March 31, 2014, against Rs.
1,620 crore in the previous year.
The profit before taxation has risen by 15 per cent to Rs.
101 crore. The net profit stood at Rs. 70 crore in 2013-14 against Rs. 60
crore.
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