Canada’s Manulife Financial Corporation and Indian conglomerate Mahindra & Mahindra have appointed Suresh Agarwal as managing director and chief executive officer of their joint venture insurance firm in Mumbai.
Agarwal will step down from his current position as managing director and CEO of Mahindra Insurance Group to take up the new role on May 1. The appointment is subject to regulatory approval.
Manulife announced the appointment in a statement on February 23, around three months after the two companies signed an agreement to establish the equally-owned joint venture.
Agarwal has nearly 30 years of experience in life and general insurance, corporate, and retail lending.
He was CEO of Zurich Kotak General Insurance Co India, a joint venture between Zurich Insurance Group and Kotak Mahindra Bank, from 2021 to 2024.
