IRDAI Approves Patanjali's Magma General Insurance Acquisition
The Insurance Regulatory and Development Authority of India (IRDAI) has approved Patanjali Ayurved's acquisition of Magma General Insurance. The deal, valued at Rs 4500 crore, will see Patanjali acquire a 73.56% stake, with the DS Group owning 24.5%. Magma General Insurance, founded in 2009, operates across multiple segments including motor, health, property, and commercial insurance. It reported gross written premiums of Rs 3,615.48 crore in FY26.8 sourcesSee all sources