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-Indian insurer launches JV with German insurer, HDI Gerling.

Global Banking News-October 12, 2012--Indian insurer launches JV with German insurer, HDI Gerling(C)2012 ENPublishing -

Global Banking News - 12 October 2012

Kolkata based Indian insurer, Magma Fincorp (NSE: MAGMA), has announced the launch of its joint venture, Magma HDI general insurance company (MDHI).

The joint venture with the Germany-based HDI Gerling will focus on the needs of customers in semi urban and rural areas, said the MDHI chairman, Sanjay Chamria. At present over four fifths of Magma's 240 branches are located in this region.

According to a company announcement, general insurance products will help in the financing of customer's assets such as tractors, cars, commercial vehicles and construction equipment.

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Publication:Global Banking News (GBN)
Date:Oct 12, 2012
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