Suresh Agarwal

Manulife and Mahindra & Mahindra ( M&M ) have appointed Suresh Agarwal as managing director and chief executive officer-designate of their proposed life insurance joint venture in India, subject to regulatory approvals.

The agreement to establish a 50:50 life insurance JV was announced in November last year.

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 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 joint venture between Kotak General Insurance Business and Zurich Insurance.

According to a Manulife media statement, Agarwal is recognized in the industry for his strategic foresight in multi-channel distribution, operational efficiency, governance, high-impact execution, and delivery of exceptional shareholder and customer value.

Agarwal has been a part of the Mahindra Group as managing director and CEO of Mahindra Insurance Brokers Limited since September 2025. He will step down from this position on April 30th and will take over his new role from May 1st, 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.

Combining Manulife’s proven quality agency, product development, and underwriting capabilities catered to urban customers with Mahindra’s deep access and extensive distribution in rural and semi-urban areas, the joint venture will create long-term value by driving customer centricity and leveraging new technologies, the statement says.