Mahindra Finance, a leading non-banking financial company (NBFC), has entered into a strategic corporate agency agreement with Magma HDI General Insurance Company, a rising name in India’s general insurance sector. This collaboration aims to provide a diverse range of tailor-made insurance solutions to Mahindra Finance customers, spanning motor and non-motor segments.
The partnership was formally signed in the presence of Raul Rebello, Managing Director & CEO of Mahindra Finance, and Rajive Kumaraswami, Managing Director & CEO of Magma HDI General Insurance, along with other senior officials.
Raul Rebello, Managing Director & CEO, Mahindra Finance, said, “We are glad to collaborate with Magma HDI General Insurance to offer tailored general insurance coverage to our customers. This strategic collaboration will provide reach of the ever-growing insurance sector while delivering on our commitment of being a responsible financial solution partner to emerging India”.
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Rajive Kumaraswami, MD & CEO of Magma HDI General Insurance further elaborated, “Our partnership with Mahindra Finance marks a significant step in uniting the ecosystem to advance the insurance industry’s vision of ‘Insurance for All by 2047.’ By offering tailored insurance solutions, we are committed to enhancing our customers’ financial security and ensuring the peace of mind they need to navigate life’s uncertainties.”
By leveraging Mahindra Finance’s extensive rural reach and Magma HDI’s insurance expertise, the partnership aims to enhance customer experience and financial security across the country, making significant strides toward a financially inclusive India.
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