Suresh Agarwal, MD & CEO designate of proposed life insurance joint venture between Mahindra & Mahindra and Manulife
Suresh has nearly 30 years of experience in life and general insurance, corporate, and retail lending. He has spent significant part of his career in establishing and expanding Kotak‘s life insurance business, followed by his stint at Kotak General insurance, where he led the transition to form a JV between Kotak General Insurance Business and Zurich Insurance.
Mumbai: Auto major Mahindra & Mahindra Ltd. (M&M) and Canadian Manulife today announced the appointment of Suresh Agarwal as the MD & CEO designate of its proposed life insurance joint venture(JV), subject to regulatory approvals.
Suresh has been part of the Mahindra Group as MD & Chief Executive Officer of Mahindra Insurance Brokers since September 2025. He will step down from this position on April 30, 2026, and will take over his new role from May 01, 2026 subject to regulatoryapprovals.
The agreement to establish a 50:50 Indian life insurance JV was announced in November last year, in one of the world’s fastest-growing life insurance markets.
Suresh has nearly 30 years of experience in life and general insurance, corporate, and retail lending. He has spent significant part of his career in establishing and expanding Kotak‘s life insurance business, followed by his stint at Kotak General insurance, where he led the transition to form a JV between Kotak General Insurance Business and Zurich Insurance.
Speaking on the appointment, Puneet Renjhen, executive vice president and member of Group Executive Board, Mahindra Group said, “ Suresh brings proven leadership and deep industry knowledge to the joint venture. Life insurance is a critical pillar in India’s journey towards deeper financial security and inclusion. We are excited to introduce life insurance as a logical extension to Mahindra’s existing financial services offerings.
Mahindra’s trusted brand, strong governance, and extensive rural and semi-urban distribution network, together with Manulife’s global insurance expertise, positions us uniquely to build a high-quality, customer-focused life insurance franchise, said Renjhen.
Harshal Shah, chief marketing officer, Asia, Manulife, who also serves as the Manulife Principal Officer of the insurance JV, said, “India represents one of the most compelling long‑term opportunities in global life insurance, and we’ve been intentional in choosing the right moment—and the right partner—for our entry.
“Together with Mahindra, we aim to become the number one choice for customers by being digital‑first, focused on their needs,and tailoring solutions to diverse protection priorities. With today’s leadership appointment,we’re excited to build a business that brings meaningful protection and savings to millions,” said Shah.
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.