This is more an English language question.
Personally I do not think you can say Lens $1$ has "$2$ times bigger magnification" without ambiguity.
If you said it had $50\%$ more magnification, then this would be $1.5$ times Lens $2$'s magnification, so $100\%$ more magnification would be twice and logically $200\%$ more magnification would be three times.
Better to say Lens $1$ has $2$ times the magnification of Lens $2$, or Lens $1$ has twice the magnification of Lens $2$. Then to reverse these you could say Lens $2$ has $0.5$ times the magnification of Lens $1$, or Lens $2$ has half the magnification of Lens $1$.