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United News of India

Chola MS records Rs.1997 cr GWP in Q1 FY25-26

Chennai, July 22 (UNI) Cholamandalam MS General Insurance Company Ltd (Chola MS), a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group of Japan, today announced its unaudited financial results for Q1 FY25-26, reporting a Gross Written Premium (GWP) of Rs 1,997 crore. On the key financial and operational highlights for Q1 FY25-26, the company said Gross Written Premium (GWP) growth was at 2.7% consequent to the 1/n method of GWP recognition effective October 1, 2024. The GWP growth was 7.9% on full premium basis. The Company had Rs.102 crs of non-motor long term premium the recognition of which has been deferred to respective annual periods. Profit Before Tax (PBT) for Q1 was Rs.144.77 Cr as against Rs.178.96 crores in the corresponding quarter. The Company made a higher provisioning for motor third claims in the context of rising value of awards and absence of any increase in motor third party premium over the last four years. The results for the quarter were also impacted by a few large claims in the fire line of business. The net worth rose to Rs 3,106 crore as of June 30, 2025 with the solvency ratio at 2.17 times (regulatory requirement of 1.5 times) and recorded a return on equity of 3.45% for the quarter (not annualized). Commenting on the performance, Mr. V. Suryanarayanan, Managing Director, Chola MS, said, 'We remain steadfast in our pursuit of sustainable and profitable growth. Our continued investments in digital platforms, data-led decision-making, and strategic distribution partnerships have ensured we stay resilient and future-ready. We are committed to enhancing value for our customers, partners, and stakeholders through innovation, operational excellence, and a strong service ethos.' UNI GV 1930