Chennai, 13 March, 2007: Cholamandalam MS General Insurance Company Limited (Chola MS), a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group, Japan, has become a preferred Insurer for Hyundai Cars. An agreement to this effect was signed between Cholamandalam MS General Insurance Company Limited and Hyundai Motor India.

Through this tie-up, all Hyundai customers would be able to insure their vehicles at the dealer point and avail post-accident, near cashless repairs of insured vehicles at all Hyundai Dealerships. Hyundai aims to offer its customers hassle-free accident repairs and recovery of insurance claims through Chola MS motor insurance.

This preferred Insurer tie-up with Hyundai is the second such tie-up that Chola MS has forged, the first being with Toyota Motors.

The tie-up will enable Chola MS to get preference as an Insurance provider in 184 Hyundai Motor Dealer points across the country. Hyundai today boasts of big brands like Santro, Elantra, Getz, Verna and Sonata. Today Hyundai Santro Xing, is one of the largest selling cars in the country.

About Cholamandalam MS General Insurance Company (Chola MS)
Cholamandalam MS General Insurance Company Ltd. is a Joint Venture between the $1.6 billion Murugappa Group, and Mitsui Sumitomo Insurance Group of Japan. Cholamandalam MS offers a rich range of comprehensive product solutions spanning almost all non-life Insurance offerings ranging from Motor Insurance, Health, Home, Travel, to Accident, Property, Marine and Engineering. The organizations commitment to consumer orientation is seen right from underwriting and product development, its product differentiation, high operational efficiency for policy issuances, to excellent customer redressal mechanisms for fair and quick Claims settlement.

About Mitsui Sumitomo Insurance Company (MS)
Mitsui Sumitomo is the second largest Insurance Group in Japan, with a Net Written Premium (NWP) of 14.5 billion USD in 2006. The Company has 733 sales bases, 257 claims handling offices and about 62474 agents throughout Japan. MS also offers its services globally with 52 sales bases in 38 countries and regions overseas. Mitsui Sumitomo Insurance Co. Ltd. was recently awarded the "General Insurance Company of the Year" Award at the 9th Asia Insurance Industry Award ceremony held in Singapore. This has been awarded to MS for being the most active non-life insurance company and for reaching the top of the foreign non-life insurers in the region.

About the Murugappa Group
Headquartered in Chennai, the $1.6 billion Murugappa Group is India's leading business conglomerate, which fosters an environment of professionalism for its strong workforce of 28,000 employees. Market leaders in diverse areas of business viz. engineering, abrasives, finance, general insurance, sanitary ware, cycles, sugar, farm inputs, fertilizers, plantations, bio products and nutraceuticals, its 29 registered companies have manufacturing facilities spread across 12 states in India.

The Group has forged strong joint venture alliances with leading international companies like Roca, Cargill, Cerdak, DBS Bank, Mitsui Sumitomo and Groupe Chimique Tunisien and has consolidated its status as one of the fastest growing diversified business houses in India.

Contact Information

ShivaKumar S.
Sr. Vice President
Retail Insurance
Cholamandalam MS General Insurance Co. Ltd. T
Mobile: 98403 58206
Email: shivakumarS@cholams.murugappa.com

Ms. Anu Lakshman
General Manager
IPAN
Tel: 0 98410 39574