Mumbai, June 30th 2020: Cholamandalam MS General Insurance Co. Ltd., today, has announced the retirement of Mr. S. S. Gopalarathnam as the Managing Director and Mr. V. Suryanarayanan, currently President and COO, will take over as the Managing Director of Cholamandalam MS General Insurance Co. Ltd., effective 1st July 2020.
Mr. S. S. Gopalarathnam retires as Managing Director of Cholamandalam MS General Insurance Co. Ltd. on 30th June 2020 after a long and distinguished career spanning an incredible 41 years. He joined the Murugappa Group in 1979 as a Management Trainee at TI Cycles and served in various capacities in the finance and marketing functions across TI Cycles, TI Miller and TPI till 1998, when he was made the General Manager -Tubes.
Consequent to the retirement of Mr. S. S. Gopalarathnam, Mr. V Suryanarayanan, currently President and COO will take over as the Managing Director of Cholamandalam MS General Insurance Co. Ltd., effective 1st July 2020.
Mr. S. S. Gopalarathnam leaves behind a company with a strong and capable team that is trusted by customers and respected by peers in the industry and is well positioned for further growth.
About Mr. S. S. Gopalarathnam –
He is a Chartered Accountant and Company Secretary, has been in the financial services sector of the Murugappa Group for the past 24 years of which the first 10 years were in Cholamandalam Investments and Finance post which he moved over to Chola MS in 2006 as CFO and has since then held other positions of Head of Claims, Underwriting, Reinsurance etc., and became the President and Chief Operating Officer in April 2019. He combines rich experience in retail financial services, a deep understanding of general insurance and a prudent approach to balancing risk with growth.
In these twelve years with Mr. S. S. Gopalarathnam as CEO, Chola MS has grown from Rs.350 crores to nearly Rs.4400 crores of GWP. Leading from the front, he has overseen the launch of several pioneering initiatives, built an excellent rapport with our Joint Venture partners, MSI and harnessed the best of their worldwide experience for the development of Chola MS. He has actively contributed to addressing pan-industry issues like Motor Pool, Third Party Pricing, Road Safety Bill, Solvency & Accounting Issues, Distribution Reforms, Taxation, Product Reforms, and Pricing.
About Chola MS:
Chola MS General Insurance Company Limited is a Joint Venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited, Japan.
Chola MS offers a wide range of insurance products that include Motor, Health, Property, Accident, Engineering, Liability, Marine, Travel and Crop insurance for individuals and corporates. In FY 2019-20, the company achieved a Gross Written Premium (GWP) of INR 43,982 million. Chola MS currently has 135 branches and over 40,000 intermediaries across the country.
Chola MS champions a brand philosophy called T3, which stands for Trust, Transparency and Technology. It has also been consistently recognised and awarded by the Government of India, international entities and ratings agencies for its insurance service and delivery innovations.