Magma HDI insurance JV appoints Swaraj Krishnan as CEO

Krishnan will look after the expansion of Magma HDI across India and will be responsible for overseeing all business operations

Magma Fincorp Ltd, a retail finance company, has appointed Swaraj Krishnan as chief executive officer (CEO) of its insurance joint venture Magma HDI General Insurance Co Ltd (MHGIC).

MHGIC is a joint venture between Magma and Germany’s third-largest insurer Talanx group’s unit HDI Gerling.

Earlier, Mr Krishnan was CEO of Bajaj Allianz General Insurance Company. Mr Swaraj joined New India Assurance in 1981, and was with the company for two decades. He has 29 years of experience in insurance.

Magma, a non-banking finance company (NBFC) with Rs9,390 crore assets under management (AUM), provides financing of utility vehicles and cars, commercial vehicles, construction equipment, tractors and loans for small & medium enterprises.

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    10 years ago

    Congratulations on Magma HDI obtaining R 1 licence from IRDA.With Mr.Swaraj Krishnan as CEO and with Magma's high degree of business ethics I am sure the company is bound to achieve many alaurel in the insurance world.

    satyam roy

    1 decade ago

    Expecting you will take off MHGIC in such lebel where sky is not the limit with your previous experience........

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