Business EconomyPosted at: May 14 2025 4:44PM


Magma ties up with Toyota Tsusho to boost presence in vehicle insurance market

Mumbai, May 14 (UNI) Magma General Insurance Limited (Magma), a prominent player in India's general insurance sector, has forged a strategic partnership with Toyota Tsusho Insurance Broker India Pvt Ltd (TTIBI) to enhance its presence in the passenger car insurance market.
Through this collaboration, TTIBI will distribute Magma’s comprehensive motor insurance products for both private and commercial passenger vehicles via its extensive 150-dealer network. The partnership aims to increase accessibility to Magma's insurance offerings, covering accidents, theft, natural disasters, and third-party liabilities, providing a more efficient and customer-friendly experience.
Commenting on the partnership, 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 presence in the passenger car segment, particularly private cars. With shared values of integrity, fairness, and trust, we are confident that this collaboration will help us offer an exceptional service experience to our customers."
Takayuki Ueda San, Managing Director and CEO of Toyota Tsusho Insurance Broker India Pvt Ltd, remarked, "We are committed to boosting insurance penetration in the country by providing reliable and high-quality solutions in partnership with trusted entities like Magma. This collaboration allows us to offer superior products and a premium experience to our customers."
This partnership further underscores Magma General Insurance's dedication to customer-centric growth and market expansion. Working together with TTIBI, the company aims to streamline access to high-quality motor insurance across India.
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