Chola MS gets Rs.50 crore as additional capital

February 5th, 2010 - 7:47 pm ICT by IANS  

Chennai, 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.

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