Cholamandalam MS General Insurance Company Ltd (Chola MS) reported a 19.6% year-on-year decline in profit after tax (PAT) to ₹86 crore for the first quarter ended June 30, 2026, even as the insurer posted healthy growth in premium collections.
The company had reported a PAT of ₹107 crore in the corresponding quarter of the previous financial year.
Premium income grows
Gross Written Premium (GWP) rose 6.7% to ₹2,130 crore during the quarter, compared with ₹1,997 crore in the year-ago period, reflecting steady business momentum despite a challenging operating environment.
Profit before tax (PBT) declined to ₹116 crore from ₹145 crore a year earlier.
Balance sheet remains strong
Despite the drop in earnings, the insurer strengthened its balance sheet, with net worth increasing to ₹3,415 crore as on June 30, 2026, from ₹3,106 crore a year ago. The company’s solvency ratio stood at 1.93 times, comfortably above the regulatory requirement of 1.5 times, while return on equity for the quarter was 2.52% (not annualised).
Expands rural footprint
Chola MS continued to deepen its presence in rural India, generating business from 148,568 Gram Panchayats during the quarter as part of its financial inclusion strategy. The company also expanded its service network to over 18,000 cashless garages and 13,900 cashless hospitals, strengthening its claims servicing capabilities across the country.
Focus on technology
The insurer said it continued to invest in digital transformation initiatives aimed at improving customer experience, enhancing operational efficiency and strengthening data-driven decision-making capabilities.
Chola MS CEO & Managing Director Rajive Kumaraswami said the company remained focused on building a sustainable and resilient business through prudent underwriting, digital innovation and customer-first service, while thanking customers, partners and employees for their continued support.