An internally segmented magnet is disclosed. The magnet may include a first layer of a permanent magnetic material, a second layer of a permanent magnetic material, and an insulating layer separating the first and second layers. The insulating layer may include a ceramic mixture of at least a first ceramic material and a second ceramic material. The mixture having a melting point of up to 1,100° C. and may be a eutectic, or near eutectic, composition. The magnet may be formed by forming a first layer of powdered permanent magnetic material, depositing an insulating layer over the first layer, depositing a second layer of powdered permanent magnetic material over the insulating layer to form an internally segmented magnet stack, and sintering the magnet stack. The ceramic materials may include a halogen and an alkaline earth metal, alkali metal, or a metal having a +3 or +4 oxidation state.