Mahesh Balasubramanian, managing director (MD), Kotak Mahindra Life Insurance Company, said, “We are committed to the vision of 'Insurance for All,' as outlined by the IRDAI. Through our collaboration with Mahindra Finance, our aim is to extend our outreach to the untapped segments of the population. By leveraging on Mahindra Finance’s customer reach and our expertise in life insurance, we can now offer life insurance solutions and provide financial security to customers of Mahindra Finance.”

Raul Rebello, managing director (MD) & CEO, Mahindra Finance stated, “We are delighted to enter into this strategic collaboration with Kotak Life to offer life insurance solutions to our customers. It is a significant step in our commitment to facilitate agile and efficient insurance solutions powered with personalised customer experience. Our aim is to help facilitate sustainable growth while delivering on our commitment towards being a responsible financial solution partner to Emerging India”.

Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is one of India's leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 8.4 million customers and has an AUM of over $11 billion. The company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits.

Mahindra & Mahindra Financial Services standalone net profit fell 9.52% to Rs 618.99 crore on 21.25% increase in total income to Rs 3,706.10 crore in Q4 FY24 over Q4 FY23.