Mahindra and Manulife to Form 50:50 Life Insurance Joint Venture

Mahindra & Mahindra and Canadian financial services giant Manulife have agreed to establish a 50:50 life insurance joint venture in India, pending regulatory approval. This partnership builds on their existing asset management collaboration. The venture aims to expand insurance penetration into rural and semi-urban India by combining Mahindra's distribution network with Manulife's global insurance expertise. Each partner has committed up to ₹3,600 crore in capital, signaling a major new entry into India's fast-growing insurance market.