New Delhi, February 23 Mahindra & Mahindra Ltd (M&M) and Manulife of Canada announced on Monday the appointment of Suresh Agarwal as the designated Managing Director and CEO for their proposed life insurance joint venture, subject to regulatory approvals.
The agreement to establish a 50:50 life insurance joint venture was announced in November last year, highlighting the two companies' commitment to enhancing the financial well-being of customers in one of the fastest-growing life insurance markets, a joint statement said.
Agarwal has been a part of the Mahindra Group as Managing Director & Chief Executive Officer of Mahindra Insurance Brokers Ltd since September 2025. He will relinquish this position on April 30, 2026, and will assume his new role on May 01, 2026, subject to regulatory approvals.
The joint venture aims to offer long-term savings and protection solutions tailored to the diverse and growing needs of India's population, in line with India's "Insurance for All" vision by 2047, it said.
Combining Mahindra's deep access and extensive distribution in rural and semi-urban areas with Manulife's proven quality agency, product, development, and underwriting capabilities catered to urban customers, the joint venture will create long-term value by driving customer centricity and leveraging new technologies, it said.
