Magma HDI General Insurance

Magma Fincorp Limited and its promoters signed a joint Venture agreement with HDI-Gerling International holding AG .Germany on 28 July 2009 at Kolkata to enter into the general insurance sector in India . HDI - Gerling International is part of the Talanx-Group, 3rd biggest insurance Group in Germany. The Joint Venture headquartered at Kolkata, will leverage on the strengths of the two companies to offer insurance products through the existing strong distribution and service network of Magma with deep penetration in rural India.