Insurance Regulatory and Development Authority of India (IRDAI) approves Patanjali Ayurved and DS Group's acquisition of Magma General Insurance

Key facts

• The Insurance Regulatory and Development Authority of India (IRDAI) has approved Patanjali Ayurved and DS Group's acquisition of Magma General Insurance for nearly ₹4,500 crore.
• Patanjali Ayurved will acquire a 73.6% stake and DS Group will acquire a 24.5% stake in Magma General Insurance.
• Magma General Insurance's gross direct premium grew at a CAGR of 22% between FY21 and FY25, outpacing the general insurance industry's CAGR of 10%.
• The insurer turned profitable in FY25 with a net profit of ₹1 crore, compared to a loss of ₹141 crore in FY24, and reported a net profit of ₹27 crore in the first nine months of FY26.
• The company's solvency ratio stood at 1.81 times as of December 31, 2025, above the regulatory requirement of 1.50 times, with excess capital of ₹268 crore.
• Patanjali is expected to leverage its distribution network of approximately two lakh retail outlets and over 250 Mega Stores to expand Magma General's reach in semi-urban and rural markets.