Mahindra, Manulife JV appoints Suresh Agarwal as MD, CEO designate

New Delhi, Feb 23 (PTI) Mahindra & Mahindra Ltd (M&M) and Manulife of Canada on Monday announced the appointment of Suresh Agarwal as the MD and CEO designate for their proposed life insurance JV, subject to regulatory approvals.

The agreement to establish a 50:50 life insurance JV was announced in November last year, underscoring 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 part of the Mahindra Group as MD & Chief Executive Officer of Mahindra Insurance Brokers Ltd since September 2025. He will step down from this position on April 30, 2026, and will take over 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. PTI DP DP BAL BAL