Patanjali enters insurance business with Magma deal

After Ayurveda, FMCG and wellness products, Patanjali Ayurved is entering the insurance business. The Insurance Regulatory and Development Authority of India (IRDAI) has approved the nearly Rs 4,500-crore acquisition of Magma General Insurance by Patanjali and the DS Group. Patanjali will acquire a 73.6% stake, while DS Group will hold 24.5%. But why did the two companies choose Magma? In this video, we explain the deal, Magma's strong growth, and how Patanjali's vast retail network could help expand insurance penetration across India.