Mumbai, December 19, 2024: Magma HDI General Insurance, a fast-growing company in India’s general insurance sector, announces a strategic partnership with IndoStar Capital Finance Limited (ICFL), a prominent non-banking financial company (NBFC).
The corporate agent agreement signing ceremony was held in Mumbai and attended by Mr. Karthikeyan Srinivasan, Chief Executive Officer of IndoStar Capital Finance Limited and Mr. Rajive Kumaraswami, MD and Chief Executive Officer of Magma HDI General Insurance Limited along with some senior officials from both companies.
IndoStar Capital Finance will now offer Magma HDI’s health, commercial and motor insurance solutions to its customers as part of this collaboration. The partnership highlights a mutual commitment to delivering comprehensive financial services, ensuring enhanced convenience and protection under one roof.
Speaking on the occasion, Mr. Karthikeyan Srinivasan, Chief Executive Officer of IndoStar Capital Finance Limited, said, “This partnership aligns with our vision of delivering holistic financial services to our customers. By offering insurance alongside our financial solutions, we aim to empower our customers with seamless and reliable protection for their assets and well-being.”
Echoing these sentiments, Mr. Rajive Kumaraswami, MD and Chief Executive Officer, Magma HDI General Insurance Limited shared, “We are delighted to partner with IndoStar Capital Finance, as we see a strong synergy in our target customer audience. By combining their extensive reach with our expertise in underwriting risks, this collaboration enables us to deliver greater value to customers. Together, we remain committed to advancing accessibility and creating tailored offerings.”