Mahindra & Mahindra and Canadian insurer Manulife have announced a 50:50 life insurance joint venture in India, aiming to tap into one of the world’s fastest-growing insurance markets.

The proposed partnership, subject to regulatory approval, builds on the duo’s existing collaboration, which began with the 2020 launch of Mahindra Manulife Investment Management. Each partner will commit up to ₹3,600 crore in capital, with ₹1,250 crore to be invested over the first five years. Advertisement

Mahindra Group CEO Dr. Anish Shah said the venture would leverage technology to create a customer-first insurer. “We are confident that this joint venture offers a very compelling opportunity to create meaningful value for our shareholders,” Shah stated.

Phil Witherington, President and CEO of Manulif

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