Magma HDI gets IRDA nod for insurance biz

The Insurance Regulatory and Development Authority has issued certificate of registration to Magma HDI General Insurance Company Ltd.

It was promoted by Magma Fincorp Ltd., Celica Developers Pvt. Ltd., Jaguar Advisory Services Pvt. Ltd., and HDI Gerling Industrie Versicherung AG.

With this registration, the total number of general insurers registered with the Authority had gone up to 26, the IRDA said in a release.