{"id":276087,"date":"2025-11-14T19:05:58","date_gmt":"2025-11-14T13:20:58","guid":{"rendered":"https:\/\/insurancekhabar.com\/mahindra-group-to-set-up-life-insurance-company-in-india-in-joint-venture-with-canada-2\/"},"modified":"2025-11-14T19:05:58","modified_gmt":"2025-11-14T13:20:58","slug":"mahindra-group-to-set-up-life-insurance-company-in-india-in-joint-venture-with-canada-2","status":"publish","type":"post","link":"https:\/\/english.insurancekhabar.com\/mahindra-group-to-set-up-life-insurance-company-in-india-in-joint-venture-with-canada-2\/","title":{"rendered":"Mahindra Group to set up life insurance company in India in joint venture with Canada"},"content":{"rendered":"<p>Kathmandu. Mahindra &#038; Mahindra Ltd (M&#038;M) has announced that it will launch life insurance companies in India in partnership with Canadian investors. <\/p>\n<p>Mahindra &#038; Mahindra (M&#038;M) has entered into an agreement with Manulife, a Canadian financial services multinational company, to establish a 50% stake in life insurance company. The MoU will come into effect after the approval of the Indian regulator. <\/p>\n<p>The total capital commitment from both the parties for the proposed insurance company is up to Rs 3,600 crore (US$400 million). According to Indian media reports, both sides are expected to invest Rs 1,250 crore (US$140 million) in the first five years. <\/p>\n<p>After signing the agreement, Anish Shah, managing director of Mahindra Group, said that they plan to enter into the non-life insurance service in the future once the government grants unified license. <\/p>\n<p>Only two per cent of life insurance branches are in rural India, Mahindra said in a statement to investors, adding that Mahindra Life Insurance is a &#8220;logical extension&#8221; of its services as it has an extensive automotive distribution network and offers retail loans through Mahindra &#038; Mahindra Financial Services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kathmandu. Mahindra &#038; Mahindra Ltd (M&#038;M) has announced that it will launch life insurance companies in India in partnership with Canadian investors. Mahindra &#038; Mahindra (M&#038;M) has entered into an agreement with Manulife, a Canadian financial services multinational company, to establish a 50% stake in life insurance company. The MoU will come into effect after [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":276085,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45043,45044,45159],"tags":[],"class_list":["post-276087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-auto-en","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/276087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=276087"}],"version-history":[{"count":0,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/276087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/276085"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=276087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=276087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=276087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}