Cholamandalam MS nets Rs 347-cr profit before tax FY '17-18

: Cholamandalam MS General Insurance Company has collected a gross written premium of Rs 4,103 crore for the financial year ending March 31, 2018.

The city-based company, which holds three per cent marketshare, has made a profit before tax (PBT) at Rs 347 crore during the year and the company board announced a dividend of six per cent, a press release said here today.

"It was a special year for us at Chola MS as we celebrated our 15th anniversary and we've crossed some important milestones. We've been able to achieve this growth without any capital infusion over the past five years," the release quoted the managing director of the company, S S Gopalarathnam as saying.

The target of the gross written premium had been set at Rs 5,500 crore, the release said.

The company witnessed motor, health and crop insurance contributing over 80 per cent of the premiums, it added.