M&M to enter life insurance market via 50:50 JV with Manulife

November 14, 2025

Mahindra & Mahindra is entering the life insurance sector through a 50:50 joint venture with Canada’s Manulife, committing up to ₹3,600 crore each. Operations are expected to launch within 15-18 months of regulatory approval, with a focus on underpenetrated rural and semi-urban markets. The venture aims for break-even around the tenth year.

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