Mahindra & Mahindra and Manulife to form a joint venture in a $800m deal.

Mahindra & Mahindra, an Indian multinational automotive manufacturing corporation, and Manulife, an international financial services provider, agreed to form a joint venture in a $800m deal. “Mahindra brand strength, deep distribution capabilities in rural and semi-urban India and execution excellence make life insurance a logical extension towards our goal of building a comprehensive financial services portfolio. Manulife is the best natural partner for us given their global capabilities in insurance products, underwriting and reinsurance. With a focus on leveraging technology the joint venture will build an efficient, customer-centric insurer in India. We are confident that this joint venture offers a very compelling opportunity to create meaningful value for our shareholders," Anish Shah, Mahindra CEO & Managing Director.