Mahindra & Mahindra Limited has informed the Exchange about Incorporation of a Joint Venture Company
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Mahindra & Mahindra has completed the incorporation of a new 50:50 joint venture with Manulife Holdings (Bermuda) Limited, named Mahindra Manulife Insurance Limited (MMIL). The JV, registered in Mumbai, will operate in the life insurance business. Each partner has subscribed to 5,00,000 equity shares of Rs. 10 each, totaling Rs. 50 lakh contribution from each side. The company was incorporated on 29th April 2026 with a paid-up capital of Rs. 1 crore. IRDAI approval has been received for this life insurance venture. This partnership combines Mahindra's extensive distribution network in India with Manulife's global expertise in product innovation and underwriting.
This strategic move allows Mahindra to enter the life insurance sector through a high-profile partnership with global insurer Manulife, potentially expanding its financial services footprint and creating a new revenue stream.