Mahindra & Mahindra, Manulife ink pact for life insurance JV

13 Nov 2025 , 11:57 AM

Mahindra & Mahindra (M&M) Ltd. has informed the exchanges that it has signed an agreement with Manulife to establish a 50:50 life insurance joint venture (JV).

The JV will be formed after receiving regulatory approval.

Mahindra & Mahindra stated in its filing that the company plans to be the Number One life insurance company for rural and semi-urban India. Also, to serve urban customers via leadership in protected solutions.

After securing regulatory approvals, the JV will be expanded through the collaboration between Mahindra & Mahindra and Manulife in India. The two entities already operate an investment management platform, Mahindra Manulife Investment Management, which was launched in 2020.

As per the details disclosed, the total capital commitment from each company will be about ₹3,600 Crore or $400 Million. This will be for the first 10 years and each company is likely to invest up to ₹1,250 Crore each during the first five years of the JV, announced the company in its filing with the exchanges.

At around 11.52 AM, Mahindra & Mahindra was trading 0.57% lower at ₹3,732.80 per piece, against the previous close of ₹3,754.30 on NSE. The counter touched an intraday high and low of ₹3,754.10, and ₹3,720.60, respectively.

This JV will provide long-term savings and protection solutions in-line with India’s “Insurance for All” by 2027.

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