General Insurance CompanyLimited is a joint venture between Magma Fincorp Limited (now known as Poonawalla Fincorp Limited) and HDI Global SE Germany. It uses Magma Fincorp’s (now known as Poonawalla Fincorp) in-depth understanding of Indian markets to identify the needs of its customers and amalgamates it with HDI Global’s innovative approach to serve them in the most efficient manner. Magma HDI offers a range of innovative retail & commercial line of general insurance products.
Magma Fincorp Ltd. (now known as Poonawalla Fincorp Ltd.) is one of India's largest NBFCs, driven by a single purpose: 'Investing in the smallest dream'.
It offers a range of financial products through its 304 offices spread across 22 states. The company manages assets worth approximately INR 180 billion.
HDI Global SE is part of the Talanx Group, a multi-brand conglomerate that has presence in over 150 countries. The group is the third largest German insurance group by premium income.
The company’s rich experience of a 100 years gives it a distinct edge over its competitors.