Magma General Insurance Limited, formerly known as Magma HDI General Insurance Company Limited, has announced a partnership with Toyota Tsusho Insurance Broker India Pvt. Ltd. (TTIBI) to strengthen its position in India’s passenger car insurance market.
As part of the collaboration, TTIBI will distribute Magma’s motor insurance products through its network of 150 auto dealerships across the country.
The insurance offerings cover accidents, theft, natural disasters, and third-party liabilities. These policies are available for both private and commercial passenger vehicles.
Rajive Kumaraswami, managing director and CEO of Magma General Insurance, said the partnership aims to expand the company’s presence in the private car segment. He emphasized that both companies share similar values and are working together to improve customer service and delivery.
Takayuki Ueda, managing director and CEO of TTIBI, said the alliance supports their mission to increase insurance penetration in India. He noted that the collaboration will help provide dependable motor insurance solutions by working with trusted partners.
The partnership is expected to make vehicle insurance more accessible and improve operational efficiency for customers across the country.
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