What is the Mahindra Group's new venture with Manulife?

The Mahindra Group and Manulife have established a 50:50 life insurance joint venture to target rural and semi-urban India, as well as serve urban customers.

How much capital will the Mahindra-Manulife joint venture have?

The total capital commitment from each shareholder will be up to ₹3,600 crore or $400 million for the first 10 years, with both companies likely to invest up to ₹1,250 crore each during the first five years.

What is the goal of the Mahindra-Manulife life insurance joint venture?

The joint venture aims to become the leading life insurance provider for rural and semi-urban India, and serve urban customers through innovative protection solutions.

Home / Business and Economy / Mahindra & Mahindra Launches $800M Life Insurance Venture with Manulife

Mahindra & Mahindra Launches $800M Life Insurance Venture with Manulife

13 Nov

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Summary

Mahindra & Mahindra and Manulife establish 50:50 life insurance joint venture
Aims to be top insurer for rural and semi-urban India, and urban customers
Total capital commitment of up to ₹3,600 crore ($400 million) for first 10 years

Mahindra & Mahindra Launches $800M Life Insurance Venture with Manulife

On November 13, 2025, Indian automaker Mahindra & Mahindra (M&M) announced that it has established a 50:50 life insurance joint venture with Canadian financial services firm Manulife. The new venture aims to become the leading life insurance provider for rural and semi-urban India, as well as serve urban customers through innovative protection solutions.

The joint venture will be subject to regulatory approval, but once established, it will expand on the existing collaboration between Mahindra and Manulife in India. The two companies already operate an investment management platform, Mahindra Manulife Investment Management, which was launched in 2020.