Mahindra and Manulife to establish life insurance joint venture in India

Indian automobile manufacturer Mahindra & Mahindra and Canadian group Manulife Financial Corporation have signed an agreement to establish a life insurance joint venture in India. The venture will be equally owned (50/50) by both partners.

The new entity will provide savings and long-term protection solutions designed to meet the evolving needs of the Indian population.

Mahindra and Manulife will soon submit an application for approval to the relevant authorities.
Once regulatory approvals are received, both companies have committed to investing up to 400 million USD each in the joint venture's capital.