Patanjali, DS Group receive approval to acquire Magma General Insurance
Patanjali Ayurved and DS Group just got the green light to buy Magma General Insurance for nearly ₹4,500 crore.
Patanjali will take a big 73.6% share, while DS Group grabs 24.5%.
This is Patanjali's first move into financial services, and it is planning to use its reach to make insurance more accessible in rural and smaller towns.
Magma posts 22% CAGR, turns profitable
Magma has been growing fast: its gross premiums grew at a compounded annual growth rate of 22% between FY21 and FY25, way above the industry average.
After a tough loss in FY24, it finally turned a profit in FY25. The company is financially healthy too, with extra capital on hand.
With this deal, Patanjali and DS Group will take over from the previous main owner and aim to expand Magma's lineup of over 70 insurance products, especially for people who haven't had much access before.