Insurance

Magma General Insurance partners with Toyota Tsusho

Admin

14 May 2025 — 1 min read

Magma General Insurance Limited (Magma) (erstwhile Magma HDI General Insurance Company Limited), a leading name in India’s general insurance sector, has announced a strategic partnership with Toyota Tsusho Insurance Broker India Pvt. Ltd. (TTIBI), marking a significant step towards expanding its footprint in the passenger car insurance segment.

Toyota Tsusho Insurance Broker India Pvt. Ltd. will distribute Magma’s comprehensive motor insurance products for private and commercial passenger vehicles through its 150 dealer network. The partnership aims to make Magma’s motor insurance offerings—covering accidents, theft, natural disasters, and third-party liabilities - more accessible and efficient for customers.

Sharing his thoughts on the partnership, Mr. Rajive Kumaraswami, Managing Director and CEO of Magma General Insurance Limited, said "We are delighted to join hands with Toyota Tsusho Insurance Broker India. This partnership is a strategic move to strengthen our business in the passenger car segment, particularly private cars. With our shared values of integrity, fairness, and trust, we are confident that this partnership will enable us to deliver an exceptional service experience to our customers.”

Mr. Takayuki Ueda San, Managing Director and CEO of Toyota Tsusho Insurance Broker India Pvt. Ltd; added, “We are committed to enhancing insurance penetration by offering reliable and high-quality solutions in association with trusted partners like Magma. This tie-up enables us to deliver superior products and a premium experience to our customers."

This collaboration reinforces Magma General Insurance’s commitment to customer-centric growth and market expansion. Together with TTIBI, the company aims to simplify access to quality motor insurance across India.

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