Mahindra and Manulife insurance joint venture (JV) has got a certificate of incorporation from the Ministry of Corporate Affairs.
Following the approval, Mahindra Manulife Insurance Ltd (MMIL) has come into existence, a joint statement said on Monday.
The venture brings together Mahindra’s strong presence in India with Manulife’s global expertise to build a simple, customer-first, AI-native and digitally led life insurer, it said.
By combining the extensive distribution reach of Mahindra with Manulife’s strengths in product innovation, underwriting, and agency-led distribution, MMIL will focus on policyholder protection and offer holistic, need-based financial solutions, it said.
MMIL aims to address India’s large protection gap through a range of long-term savings and protection products, with a strong focus on rural and semi-urban markets while building leadership in protection solutions for urban customers, it said.
The partnership combines Mahindra’s wide distribution reach wi
