Magma General Insurance

Magma General Insurance

Magma General Insurance Limited is a general insurance company that offers a wide range of insurance plans for individuals, families and businesses. Its portfolio includes 73+ products across multiple categories, including motor, health, personal accident, and home insurance for individuals and fire, engineering, liability, marine and other commercial insurance for businesses.

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The company serves a growing customer base through its extensive service network and continued expansion in technology and customer service.

Magma General Insurance Limited at a Glance

• ₹4,057 crore Gross Written Premium in FY 2025–26
• 95+ branches across India as of March 2026
• 3.8 million+ active customers in FY 2025–26
• 9,950+ network hospitals as of March 2026
• 8,900+ cashless network garages as of March 2026

Benefits of Choosing Magma General Insurance

1. Diversified Insurance Portfolio

   Magma General Insurance Limited offers insurance coverage for motor, health, home, fire, marine, householder and shopkeeper's package, liability, burglary for individuals, families and business risks.

2. Accessible Service Network

   It has an extensive network of 9,950+ hospitals and 8,900+ cashless garages across India, helping customers access cashless facilities, based on the policy.

3. Digital + Human Assistance

   It combines digital capabilities with assisted service for policy purchase and claims, depending on the insurance product.

4. A Value-led Approach

   Magma is led by its 4 core values of integrity, fairness, empathy and excellence that have built a transparent and responsible conduct towards its customers.

Awards Recognition

• Best Transaction Fraud Monitoring and Decisioning | India Fraud Risk Summit & Awards 2025
• Best Operational Excellence Strategy | Future of Insurance Summit & Awards 2025
• Excellence in Enterprise Risk Management | India Insurance Summit & Awards 2025
• Best General Insurance Company | InsureNext Global Conclave & Awards 2025
• Excellence in Operational Efficiencies Using Emerging Technologies | IBEX India 2025 BFSI Technology Awards (12th Edition)
• The Best Innovations Led by Technology and Insurtech | 5th Emerging Asia Insurance Conclave & Awards
• Insurance Marketing Strategies (Most Effective Regional Campaign) | Pitch BFSI Marketing Awards 2024
• Insurtech Innovation Award | 11th Edition of IBEX INDIA 2024 BFSI Technology Awards

Magma General Insurance- Product Portfolio

1. Magma Health Insurance

   Health insurance provides coverage to individuals, families and senior citizens, along with protection through its top-up and supplementary covers. Magma's health insurance portfolio includes:

   ✅OneHealth: Comprehensive insurance with multiple plans and sum insured options for individuals and families.

   ✅OneHealth Senior: Built for senior citizens with plan choices and optional covers.

   ✅OneHealth Extra Cover: A super top-up insurance that provides additional protection above the deductible.

   ✅Individual Personal Accident: Provides financial protection against accidental injury, including accidental death and disability.

2. Magma Motor Insurance

   Magma General Insurance's motor insurance plans provide financial protection against insured events such as theft, vehicle damage, fire and natural or man-made events and third-party legal liability. Their portfolio includes:

   ✅Private Car Package

   ✅Two-Wheeler Package

   ✅Commercial Vehicle Package

   ✅Motor Tractor Package

   ✅Motor Act Only

   ✅Motor Trade Policy

   ✅Motor Trade Internal Risk Policy

   ✅Motor Add-on Covers

3. Magma Liability Insurance

   Liability insurance protects individuals or businesses from legal liabilities. The portfolio includes:

   ✅Public Liability Insurance

   ✅Product Liability Insurance

   ✅Errors & Omissions Insurance

   ✅Directors & Officers Liability Insurance

   ✅Clinical Trials Liability Insurance

   ✅Commercial General Liability Insurance

4. Magma Fire & Property Insurance

   Fire and property insurance protects against any damage to machinery, buildings, stocks or insured assets that can disrupt business operations. Magma's portfolio include:

   ✅Standard Fire & Special Perils

   ✅Fire Loss of Profits

   ✅Industrial All Risks Insurance

5. Magma Engineering Insurance

   The insurer's engineering insurance provides contractors, project owners, manufacturers and other businesses against any unexpected physical damage or machinery breakdown that results in significant repair costs.

   Their portfolio includes:

   ✅Machinery Breakdown Insurance

   ✅Boiler & Pressure Plant Insurance

   ✅Machinery Loss of Profits Insurance

   ✅Electronic Equipment Insurance

   ✅Contractor's Plant & Machinery Insurance

   ✅Erection All Risks Insurance

   ✅Contractor's All Risks Insurance

6. Magma Marine Insurance

   Marine cargo insurance offers coverage for specific transit-related risks (domestic, import or export) and insured goods against financial losses. This includes:

   ✅Marine Cargo Open Policy

   ✅Marine Cargo Specific Voyage Policy

7. Magma Miscellaneous Insurance

   Magma General Insurance also provides additional coverage to address specific conditions, which are not included in other policies. These include:

   ✅Burglary Insurance Policy

   ✅All Risk Insurance Policy

Important Note: The information above provides a broad overview of Magma General Insurance Limited and its product portfolio. Product availability, eligibility, coverage, benefits, optional covers, premiums, deductibles, waiting periods, exclusions, underwriting requirements and claims are governed by the applicable policy wording, prospectus and terms and conditions. Customers should refer to the relevant product documentation before making a purchase decision.