Magma, Toyota Tsusho team up on car insurance in India

GlobalData

Thu, May 15, 2025, 8:12 AM 1 min read

Magma General Insurance has forged a centrifugal security confederation with Toyota Tsusho Insurance Broker India (TTIBI) to fortify its presumption successful the rider car security sector.

This collaboration volition alteration TTIBI to connection Magma's centrifugal security products done its web of 150 dealers, targeting some backstage and commercialized rider conveyance owners crossed India.

The concern aims to amended the availability of Magma's security policies, which supply sum for a scope of risks including accidents, theft, earthy disasters and third-party liabilities.

By joining forces with TTIBI, Magma General Insurance seeks to facilitate easier entree to centrifugal security for consumers passim the country.

Commenting connected the partnership, Magma managing manager and CEO Rajive Kumaraswami said: "This concern is simply a strategical determination to fortify our beingness successful the rider car segment, peculiarly backstage cars. With shared values of integrity, fairness and trust, we are assured that this collaboration volition assistance america connection an exceptional work acquisition to our customers."

TTIBI managing manager Takayuki Ueda San stated: "We are committed to boosting security penetration successful the state by providing reliable and high-quality solutions successful concern with trusted entities similar Magma. This collaboration allows america to connection superior products and a premium acquisition to our customers."

In March, Magma formed a partnership with Hyundai India Insurance Broking to leverage automobile dealership networks to administer its security products.

Last month, the Competition Commission of India approved a 98.055% stake acquisition successful Magma by Patanjali Ayurved and 5 different entities.

"Magma, Toyota Tsusho squad up connected car security successful India " was primitively created and published by Life Insurance International, a GlobalData owned brand.

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