Hyderabad : Cholamandalam MS General Insurance Company Limited (Chola MS), a joint venture between Murugappa Group and Mitsui Sumitomo Insurance of Japan, today announced that it offers P.A and Tractor Insurance to rural customers in Andhra Pradesh through 420 Managromer Centers spread throughout the state. The company has so far sold more than 45,000 policies through this model. The company is planning to launch the health product through this channel soon.

Mr. S S Gopalarathnam, Managing Director Chola MS was in the city to launch the new brand identity for Chola MS.  The new logo for Chola MS has been developed by leading brand design agency Ray & Keshavan and uses a color palette of Red, Blue, Black and White. Commenting on the launch Mr. Gopalarathnam commented “Our new logo symbolizes Dynamism, Solidity, Scale and Stability and is the right expression of our pan-Indian character. The new Chola MS brand stands for Trust and Transparency that has been part of our ethos. Going forward, we shall be accelerating our journey towards customer centricity enabled by Technology that offers convenience to our customers.”

Cholamandalam was rated as the most recognised consumer brand in a study done by the Company in 2008 and continues to enjoy tremendous goodwill across the country.  In another research done by Milward Brown, Chola MS was recognized as leading financial services player with a long haul vision by the customers.

Mr. Tsuyoshi Yamane, Whole time Director was also present on the occasion. He commented “MSIG is the largest insurance company in Japan and is amongst the top 5 insurance groups worldwide. We are committed to provide the necessary support and expertise to increase the business of Chola MS.”

With a current network of 6 branches and over 220 agents in Andhra Pradesh, Chola MS is strategically poised to grow its business in the state by over 50% in 2010-11. Mr. Gopalarathnam indicated that the company would be launching a drive to recruit agents in the semi-urban and rural areas of the state to increase its footprint.

Chola MS is a significant player in the general insurance business and has been recognized for its Trust, Transparency and convenience backed by Technology.  The company has 113 branches and over 7500 agents across the country and is likely to achieve a GWP of Rs. 950 crores in 2010-11.