Mahindra & Manulife Join Forces for New Life Insurance Venture

Mahindra & Mahindra and Manulife are establishing a 50:50 life insurance joint venture with Suresh Agarwal as the designated MD and CEO. This partnership aims to enhance financial well-being for clients in the burgeoning Indian life insurance market, offering tailored solutions aligning with India's 'Insurance for All' by 2047.

Mahindra & Mahindra Ltd (M&M) and Canadian insurance firm Manulife have announced Suresh Agarwal as the designated MD and CEO for their upcoming life insurance joint venture, pending regulatory approval.

Slated to launch as a 50:50 partnership, this joint venture was initially announced in November to target the rapidly expanding Indian life insurance market. The initiative underscores a shared commitment to improving financial well-being and aligns with India's ambitious 'Insurance for All' vision by 2047.

Agarwal, who currently serves as MD & CEO of Mahindra Insurance Brokers Ltd, will transition to this new role on May 01, 2026. The joint venture will leverage Mahindra's extensive rural distribution network and Manulife's urban agency expertise to deliver comprehensive savings and protection solutions.

(With inputs from agencies.)