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Tuesday, Dec 21, 2004

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Chola MS General in pact with Generali

Our Bureau

Chennai , Dec. 20

CHOLAMANDALAM MS General Insurance will market its health and accident insurance products to prospective multinational clients of the Generali Employee Benefits Network (GEB) in India, according to a company press release.

Cholamandalam MS has entered into an agreement with Assicurazioni Generali SpA to be its exclusive health and accident insurance partner for GEB in India.

GEB's clients will get insurance products that will enable cash-free hospitalisation across 250 cities covering 1,500 hospitals.

Quoting the Generali Group's CEO - Asia Pacific, Mr Sergio D'Caro, the release said that India is an important market for the group since multinational clients were setting up operations in India.

Cholamandalam MS is a joint venture between the Chennai-based Murugappa Group, which has diversified interests including in fertilisers and sugar, and Mitsui Sumitomo Insurance Co, of Japan.

The Generali Group is one of Europe's largest insurers with operations in 60 countries and partners over 100 financial service companies.

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