IRDAI Issues Corporate Agency License to Mahindra Finance for the distribution of Insurance Products

Mahindra & Mahindra Financial Services has obtained a Certificate of Registration from IRDAI (Corporate Agency License) to act as a corporate agent under the Insurance Act, 1938.

This license permits Mahindra Finance to offer customized insurance plans to its clients.

With this license’s help, Mahindra Finance will now broaden its product portfolio through incorporation of insurance solutions. It’ll assist the customers with their financial as well as insurance needs being met by a single entity.

Raul Rebello, managing director & CEO, Mahindra Finance said, “The corporate agency license is a significant moment for us in our journey to empower customers with best products and services alike.”

Mahindra & Mahindra Financial Services (Mahindra Finance) of the Mahindra Group is one of India’s leading NBFCs. It primarily focuses on the rural and semi-urban sector and has over 10 million customers and an AUM of over $11 billion. 

The company is a leading financier when it comes to vehicles and tractors, provides loans to SMEs and also offers FDs.