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Mahindra & Manulife to form 50:50 life-insurance joint venture in India
Mahindra & Manulife will launch a 50:50 Indian life-insurance JV, blending Mahindra’s network and Manulife’s expertise to target ₹20,000 crore in premiums within five years.
Mahindra & Mahindra Ltd. and Manulife Financial Corporation announced an agreement to establish a 50:50 life-insurance joint venture in India, pending regulatory approvals. The partnership will combine Mahindra’s extensive distribution network across rural and semi-urban markets with Manulife’s global underwriting and actuarial expertise. India’s life-insurance sector has been expanding over 12% annually, and the new entity aims to achieve ₹20,000 crore in annualised premiums within five years. This collaboration reflects growing consolidation and digitalisation in India’s insurance industry.