Magma HDI General Insurance

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(4.42) - 50 rating

INTRODUCE

Magma Fincorp Limited (Now newly acquired Poonawala Finance) 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 Mumbai, 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.