Chola MS gets Rs.50 crore as additional capital
February 5th, 2010 - 7:47 pm ICT by IANSChennai, Feb 5 (IANS) City-based non-life insurer Cholamandalam MS General Insurance (Chola MS) has got a fresh capital infusion of Rs.50 crore.
“We have got an additional capital of Rs.50 crore,” managing director S.S. Gopalarathnam told IANS, adding: “The company’s total equity has gone up to Rs.267 crore.”
Chola MS is a 74:26 joint venture between the city-based Tube Investments of India and Japan’s Mitsui Sumitomo Insurance Co.
According to Gopalarathnam, MS Chola will be closing this fiscal with a premium income of Rs.800 crore.
- Chola MS targets Rs.1,350 crore premium by March-end - Jan 02, 2012
- Chola MS targets Rs.900 crore premium in 2010-11 - Jul 16, 2010
- Chola MS General targets Rs.1,400 crore premium in 2011-12 - Jun 02, 2011
- Chola Insurance to target Japanese, Korean firms for business - Aug 04, 2009
- Chola MS targets Rs.800 crore premium - Feb 04, 2010
- Tube Investments logs 37 percent net profit growth - Apr 30, 2012
- Apollo DKV eyes tie-ups with other insurers - Nov 25, 2009
- South Indian Bank offers customers health insurance - Mar 17, 2010
- South African fund shows interest in Indian insurance - Sep 07, 2011
- Chola DBS to raise Rs.100 cr offering fresh equity - Apr 05, 2010
- Murugappa group not to exit insurance business - May 06, 2010
- Non-life insurers log 27 percent business growth in May - Jun 25, 2011
- Non-life insurers post 19 percent growth in April - May 31, 2011
- ADAG takes a step forward to snap up Royal Sundaram - Jul 14, 2010
- Star Health says it is in good health despite business loss - Jan 05, 2012
Tags: capital infusion, chola, crore, general insurance, India, insurance, insurance co, japan, joint venture, life insurer, managing director, mitsui, mitsui sumitomo insurance, rs 50, rs 800, sumitomo, tube investments