Manulife Financial Corporation (MFC.TO) and Mahindra & Mahindra Ltd. on Wednesday announced that the two companies have reached a deal to establish a 50:50 life insurance joint venture.
The new venture will strengthen Manulife and Mahindra's existing footprint in India and underscores their commitment to enhancing the financial well-being of customers in one of the world's fastest-growing markets.
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 20471.
This joint venture will expand on the strong collaboration between Manulife and Mahindra in India, following the successful launch of Mahindra Manulife Investment Management in 2020.
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