M&M, Manulife name Suresh Agarwal MD & CEO designate of life insurance JV

M&M and Manulife have appointed Suresh Agarwal as MD & CEO designate of their 50:50 life insurance JV, marking Manulife's entry into India's life insurance sector, subject to approvals

Mahindra & Mahindra Ltd (M&M) and Manulife on Monday announced the appointment of Suresh Agarwal as the Managing Director (MD) and Chief Executive Officer (CEO) designate of their proposed life insurance joint venture, subject to regulatory approvals. He will take charge from May 1, 2026.

 

M&M and Manulife announced their decision to establish a 50:50 life insurance JV in November 2025. The 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. This joint venture marks Manulife’s first entry into the life insurance market.

 

 

Agarwal has been serving as the MD and CEO of Mahindra Insurance Brokers Limited since September 2025. He will step down from this position on April 30, 2026, and will take over his new role from May 1, 2026, subject to regulatory approvals.

 

Agarwal has nearly 30 years of experience in life and general insurance, corporate, and retail lending. He spearheaded growth, executed transformative strategies and built high-margin business models across multiple channels.

 

He has spent a significant part of his career establishing and expanding Kotak’s life insurance business, followed by his stint at Kotak General Insurance, where he led the transition to form a joint venture between Kotak General Insurance Business and Zurich Insurance.