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Mahindra forays into insurance business
Orissa POST
|November 14, 2025
The automobile giant sets up joint venture with Canadian firm Manulife
Mahindra & Mahindra Thursday announced its foray into the insurance sector by signing an agreement with Toronto-head-quartered Manulife for a 50:50 joint venture, entailing an investment of %7,200 crore from both partners.
Mahindra Group CEO & MD Anish Shah stated that both the partners were looking to create a business which can accomplish a valuation ranging between ₹18,000 crore to ₹30,000 crore in ten years.
“Now, we do believe this is a conservative set of numbers, which we can achieve," he said in a virtual press conference.
Shah noted that the partners aspire to make the JV the number one life insurer in rural and semi-urban India.
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