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Magma Insurance partners with Suryoday Bank to offer health insurance

The collaboration between Magma HDI General Insurance and Suryoday Small Finance Bank aims to enhance access to health insurance, particularly in rural areas where Suryoday Bank holds a significant presence.

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Magma HDI General Insurance signs MoU with Suryoday Small Finance Bank as their 'Corporate Agent' for Health Insurance offering – Odisha Diary, Latest Odisha News, Breaking News Odisha

Hyderabad : Magma HDI General Insurance Company, a prominent player in India’s general insurance sector and Suryoday Small Finance Bank, one of the fastest-growing small finance banks in India, have entered into a Corporate Agency Agreement to offer health insurance to Suryoday Bank’s Commercial Vehicle Loan customers. This strategic collaboration aims to bridge the health insurance accessibility…

Hyderabad , Andhra-pradesh , India , Mumbai , Maharashtra , Rajive-kumaraswami , Baskar-babu-ramachandran , Insurance-company , Corporate-agency-agreement , Suryoday-small-finance-bank , Suryoday-bank , Suryoday-bank-commercial-vehicle-loan

Taking AI help for insurance and trading

Taking AI help for insurance and trading
tribuneindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneindia.com Daily Mail and Mail on Sunday newspapers.

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Magma HDI Insurance: Magma HDI General Insurance develops specialised insurance cover for EV batteries, ET Auto

Magma HDI Insurance: "We believe this product will help alleviate concerns related to battery insurance, instilling confidence and peace of mind among both current and prospective EV/HEV owners. Through this customized protection, EV and HEV owners will have the specialized coverage they need, thus facilitating the wider adoption of electric mobility,” said Rajive Kumaraswami, Managing Director & Chief Executive Officer, Magma HDI General Insurance.

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Own an Electric Car or Bike? You Can Insure Your Battery With This Plan

Own an Electric Car or Bike? You Can Insure Your Battery With This Plan
financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.

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Magma HDI General Insurance introduces the 'Battery Secure Add On' for privately owned vehicles. Details here

Magma HDI brightens up Diwali for environmentally conscious owners of electric vehicles and hybrid electric vehicles with their exclusive ‘Battery Secure Add On’ insurance.

Rajive-kumaraswami , Managing-director , Chief-executive-officer , Electric-vehicles , Magma-hdi-general-insurance , Magma-hdi , Evs , Hybrid-electric-vehicles , Internal-combustion-engine , Add-on-cover , Battery-secure-add-on

Poonawallas, ICICI Venture, others back Magma HDI

Poonawallas, ICICI Venture, others back Magma HDI
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Poonawallas, ICICI Venture, others back Magma HDI
TNN / Updated: Mar 17, 2021, 10:58 IST
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Adar Poonawalla, CEO, Serum Institute of India (File photo)
MUMBAI: The Poonawallas of the Serum Institute, together with ICICI Venture and Morgan Stanley PE Asia, have invested Rs 525 crore in Magma HDI General Insurance — part of the Magma Group, which was acquired by the vaccine maker last month.
“I see huge potential in the growth of Magma HDI, which is a young and fast-growing company. We are confident that it can reach its full potential in the next few years,” said Serum Institute CEO Adar Poonawalla. Magma HDI is a joint venture between Magma Group and German insurer HDI. The latest transaction involves the buyout of existing promoters for Rs 275 crore and an infusion of Rs 250-crore fresh equity in the company.

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Magma HDI general insurance raises Rs 525 cr from various investors

ICICI Venture, Morgan Stanley Private Equity Asia, Cyza Chem Pvt Ltd, a Poonawalla group company, and two other family offices are putting in Rs 525 crore in Magma HDI General Insurance, a joint venture between Magma Fincorp Limited and HDI Global SE, Germany.
Of the Rs 525 crore, the fresh capital infusion will be to the tune of Rs 250 crore in the company, which will provide growth capital to meet the needs of expanding distribution capabilities of the company. The existing Magma group entities have done a secondary sale, which is to the tune of Rs 275 crore. The amount will allow the promoter Magma Fincorp and its group companies to comply with the Reserve Bank of India’s guidelines for ownership of a stake in insurance companies.

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Magma HDI General Insurance approves capital raise of up to ₹250 crore via preferential issue

Magma HDI General Insurance approves capital raise of up to ₹250 crore via preferential issue
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ICICI Venture, Morgan Stanley PE invest Rs 525 cr in Magma HDI

ICICI Venture, Morgan Stanley PE invest Rs 525 cr in Magma HDI
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