Patanjali Ayurved To Buy Adar Poonawalla-Owned Firm's Insurance Subsidiary For Rs 4,500 Crore

Pantanjali's strategic investment in Magma, coupled with its vast distribution network, will inject vital growth capital and drive deep market penetration, especially in rural areas, according to the company.

"Magma General Insurance has built a strong business over the past few years, with a vast network of agents, corporate clients, and strategic partnerships. Their consistent 26% growth demonstrates their strength," Poonawalla said. "We are confident that under Patanjali Ayurved and the DS Group, Magma will continue to thrive and contribute significantly to the general insurance industry."

With over 70 products across various categories, Magma offers insurance to secure all major risks in the general insurance sphere. It provides a diverse portfolio of insurance solutions, spanning retail products like motor, health, personal accident and home, to specialised commercial offerings like fire, engineering, liability and marine.

Magma reported a gross written premium of Rs 3,295 crore in fiscal 2024 and is expected to deliver Rs 3,650–3,700 crore of gross written premium in the current fiscal with a profit before tax of Rs 20–25 crore.

Patanjali is one of the leading manufacturers and marketers of herbal, nature-based products, medicines and other FMCG products. The DS Group is a Indian conglomerate with a diversified presence across multiple sectors, which includes food and beverages, confectionery, mouth fresheners, hospitality, dairy, luxury retail, and agriculture.