Mahindra & Mahindra and Manulife announced an agreement to form a 50:50 life insurance joint venture, subject to regulatory approval.

The total capital commitment from each shareholder is up to ₹3,600 crore (US$400 million), and we expect each shareholder to invest ₹1,250 crores (US$140 million) in the first 5 years, M&M stated.

The new venture will strengthen Mahindra and Manulife’s existing footprint in India and underscores their commitment to enhancing customers’ financial well-being in one of the world’s fastest-growing markets.

Rural reach focus

Mahindra & Mahindra stated that the company’s vision is to be the number 1 life insurance company in rural and semi-urban India and to serve urban customers through leadership in protection solutions.

“Mahindra brand strength, deep distr

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