Target Information
Mahindra & Mahindra (M&M) Ltd. has announced its intent to form a 50:50 life insurance joint venture (JV) with Canada-based financial services company, Manulife. This partnership aims to leverage both companies' strengths in the life insurance sector, focusing on offering innovative and accessible insurance solutions to customers in rural, semi-urban, and urban areas of India.
The JV is set to expand upon the existing collaboration between Mahindra & Mahindra and Manulife, as they already operate the Mahindra Manulife Investment Management platform, launched in 2020. This venture is planned to be initiated after receiving the necessary regulatory approvals.
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Industry Overview
The life insurance industry in India has shown remarkable growth over the past decade, fueled by increasing awareness and a growing middle-class population. According to the Insurance Regulatory
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Transaction Size: $400M