- Partnership to enhance financial security to Mahindra Finance customers through customized insurance solutions of Magma HDI
- Collaboration to also provide innovative general insurance products
Mumbai, December 4, 2024: Magma HDI General Insurance Company, a fast-growing company in India’s general insurance sector has entered into a corporate agency agreement with Mahindra Finance, one of the country’s leading NBFCs. Under this agreement, Magma HDI will provide tailor-made insurance solutions to Mahindra Finance customers with a bouquet of general insurance products within the motor and non-motor segments.
The signing ceremony was attended by Raul Rebello, Managing Director & CEO of Mahindra Finance, and Rajive Kumaraswami, Managing Director and CEO of Magma HDI General Insurance in the presence of other senior officials.
Mr. Raul Rebello, Managing Director & CEO, Mahindra Finance, said, “We are glad to collaborate with Magma HDI General Insurance to offer tailored general insurance coverage to our customers. This strategic collaboration will provide reach of the ever-growing insurance sector while delivering on our commitment of being a responsible financial solution partner to emerging India”.
Mr. Rajive Kumaraswami, MD & CEO of Magma HDI General Insurance further elaborated, “Our partnership with Mahindra Finance marks a significant step in uniting the ecosystem to advance the insurance industry’s vision of ‘Insurance for All by 2047.’ By offering tailored insurance solutions, we are committed to enhancing our customers’ financial security and ensuring the peace of mind they need to navigate life’s uncertainties.”
By leveraging the strengths of Mahindra Finance’s extensive reach & Magma HDI’s expertise in insurance, the collaboration seeks to enhance customer experience and financial security across India.