Patanjali Insurance? Yoga Guru Baba Ramdev ventures into new turf with Magma General Insurance acquisition
The Insurance Regulatory and Development Authority of India (IRDAI) has approved Patanjali Ayurved and Dharampal Satyapal (DS) Group’s acquisition of Magma General Insurance. According to the agreement, Patanjali Ayurved will own 73.56 percent of Magma General Insurance and DS Group will own 24.5 percent.
Patanjali will acquire Magma General Insurance
Purchase with approximate value ₹4,500 crore will see Patanjali become the backer of Magma General Insurance, which was established in 2009 as a joint venture between Magma Fincorp Limited, Celica Developers, Jaguar Advisory Services and Germany’s HDI Global SE.
In February 2021, Magma Fincorp was acquired by the Poonawalla group, which became promoters of the Adar Poonawalla-led conglomerate.
Magma General Insurance has operations in many general insurance segments, including motor insurance, health, property and commercial insurance.
Insurer reported gross written premiums ₹3,615.48 crore in FY26 ₹3,334.4 crore in the previous financial year.
Net worth of Magma General Insurance according to Crisil Ratings ₹1,234 crore as on March 31, 2026.
Patanjali – From Ayurveda to insurance
Founded by yoga guru Baba Ramdev and Acharya Balkrishna in 2006 as a small pharmacy unit manufacturing herbal medicines in Haridwar, Patanjali has had an unprecedented journey so far.
Although Ramdev is the brand ambassador and de facto brand ambassador, Acharya Balkrishna owns around 95% of Patanjali Ayurved, which is unlisted.
After tasting success in Ayurveda, Patanjali ventured into FMCG in 2015 with products ranging from cow ghee to kitchen staples like atta, pulses and food grains under the same brand. The company also offers a wide range of snacks such as noodles, biscuits and namkeen.
On the personal care front, Patanjali offers herbal toothpastes, herbal hair oils, shampoos, face washes and herbal soaps.
Patanjali Ayurved also acquired Ruchi Soya in 2019. ₹4,350 crore in December 2019 through the insolvency resolution process.
