Mumbai: Magma HDI General Insurance Company and Suryoday Small Finance Bank have entered into a Corporate Agency Agreement to offer health insurance to Suryoday Bank’s commercial vehicle loan customers.

This strategic collaboration aims to bridge the health insurance accessibility gap by leveraging Suryoday Bank’s extensive reach across urban and rural regions.

Rajive Kumaraswami, MD & CEO, Magma HDI General Insurance Company, said that this alliance with Suryoday Bank reflects Magma’s commitment to expanding insurance penetration to broader customer base, while also forging synergies that benefit customers and contribute to growth of both organisations.

Baskar Babu Ramachandran, MD & CEO, Suryoday Small Finance Bank, said that this partnership is set to meet the diverse financial needs of the Bank’s commercial vehicle  customers, while also highlighting its mission of social inclusiveness and unwavering focus on prioritizing best-in-class financial customer-centric products and solutions.