Overview Magma HDI General Insurance Co Ltd. is a joint venture between Magma Fincorp Ltd, Kolkata and HDI Global SE Germany.Magma Fincorp Ltd is one of India’s premier and largest NBFCs, with a strong distribution and service network, along with an impressive penetration in rural India. Its partner company – HDI Global SE is part of the Talanx-Group which is the third largest insurance group in Germany.