Chola Insurance:

The Cholamandalam MS General Insurance Company Limited is the result of the joint venture between Muragappa Group and Mitsui Sumitomo Insurance Group. They are known to be one of the most leading insurance groups in India ready to support those who are in deep need of financial assistance.

The Muragappa Group is estimated to become a 2.4 billion US dollars conglomerate by the year 2010. Their interest encompasses various industries such as engineering, sanitary ware, abrasives, fertilizers, finance, plantations and bio-products.

The Muragappa Group of the Cholamandalam MS General Insurance joint venture is a fairly huge company with 29 other companies under its umbrella. Among the 29 companies, eight are listed under the National Stock Exchange and Bombay Stock Exchange.

It does not only control some of the businesses in India but in other parts of the world as well including the United Kingdom, United States of America, Canada, Australia, South Africa, United Arab Emirates, China and Thailand.

In 2001, the Muragappa Group received the Distinguished Family Business Award given by Switzerland’s International Institute of Management Development or IIMD. This is the first time that a business group in all of Asia received such a prestigious award from a prominent business institute.

Another group in the Cholamandalam MS General Insurance joint venture is the Mitsui Sumitomo Insurance Group. It offers life insurance, non-life insurance, financial services and risk management services. It is one of the biggest insurance groups not only in Japan but in the entire world. They boast of their 733 sales bases, 257 handling offices and about 75,000 agents in Japan and 63 sales bases in 38 countries overseas.

As of 2007, their net premium is reported to be at 12.65 billion US dollars. The Mitsui Sumitomo Insurance Group is tagged as the second largest group in Japan and one of the most successful worldwide.