Team Blitz India
NEW DELHI: Mahindra & Mahindra Financial Services said it had received licence from insurance regulator IRDAI, which will enable it to sell tailored life and general insurance policies.
The registration shall be valid from May 21, 2024 to May 20, 2027, Mahindra Finance said in a regulatory filing.
The registration as Corporate Agent (Composite) will enable the company to undertake supplemental business activity of soliciting and procuring insurance business in the areas of life, health and general insurance — both group and individual, it said.
The process would augment the company’s existing sources of revenue and profits as it would deploy its common infrastructure of branch network and feet on street.
Mahindra Finance Managing Director & CEO Raul Rebello said, “This diversification will open new revenue models for us while delivering personalized services to customers across Mahindra Finance’s 1360+ branches, thereby enhancing their experience.
