Magma HDI General Insurance Company Limited (hereinafter referred to as MAGMA HDI) is a joint venture between Magma Fincorp Ltd, a leading Indian NBFC and HDI Global SE, Germany. Magma Fincorp Limited (Magma) is a non-deposit taking non-banking finance Company (NBFC), registered with the Reserve Bank of India (RBI) as an Asset Finance Company & listed at NSE & BSE. Magma provides a bouquet of lend
ing solutions, including for Vehicles, Agri, Mortgage and to SMEs. Magma with a focus on RURBAN sector (Rural and Semi-urban) has widespread coverage, with presence across 1,600 Talukas and 2,900 locations, dedicated base of around 6.5 lac plus "active customers" and a loan book of around Rs 17,600 crores. The Company has 268 branches in 21 states / 1 UT and employs around 8,790 people. HDI Global SE is part of the Talanx-Group which is the third largest insurance group in Germany. HDI Global SE has been rated positively by world’s leading recognized rating agencies e.g. Standard & Poor’s (A+: Outlook Stable as of 03.09.2015) and A.M. Best (A: Outlook Stable as of 23.06.2016). Established in 2011, Magma HDI offers a wide bouquet of general insurance solutions such as Motor, Personal Accident, Householders, Shopkeepers, Engineering, Marine, Fire & Liability to its retail customers & institutional clients through a wide network of 80 branches including 5 Zonal Offices, having 750 employees & 1700 agents across 19 states & 1 union territory in India. It also has more than 2500 cashless garage network in India to serve it's motor insurance customers. Combination of Magma’s strong brand equity in India and extensive distribution network, coupled with HDI Global SE's international insurance expertise, product range, technology and service standards makes ‘Magma HDI’ a strong player in the Indian market.
