Archive · 10 Jun 2025
Sumit Madan Appointed CEO of Axis Max Life Insurance
Sumit Madan, who is currently a top distribution officer at Axis Max Life Insurance, will become the new head.
He will replace Prashant Tripathy, who is retiring early.
This change was approved by Max Financial Services, the parent company, on Tuesday.
Madan's new role starts October 1, 2025, and will last for five years, if approved by shareholders and the insurance regulator.
Axis Max Life Insurance is a partnership between Max Financial Services and Axis Bank.
Sumit Madan is appointed as MD & CEO of Axis Max Life Insurance.
Madan will replace Prashant Tripathy.
Tripathy requested early retirement.
Madan's appointment approved by Max Financial Services.
Madan's tenure is for 5 years, starting October 1, 2025.
- Who
- Sumit Madan, Prashant Tripathy, Max Financial Services
- What
- Sumit Madan appointed as MD & CEO
- When
- Effective October 1, 2025
- Where
- Axis Max Life Insurance
- Why
- To replace Prashant Tripathy
- New CEO
- Sumit Madan
- Replaces
- Prashant Tripathy
- Effective Date
- October 1, 2025
- Term Length
- 5 years
- Approval Needed
- Shareholders & IRDAI
Sources
Axis Max Life Declares Rs2,135 Cr. Participating Bonus for FY25; Reaffirms Commitment to Long-Term Value Creation
Bajaj Allianz Life Achieves 99.29% Claim Settlement Ratio in FY 2024-25, Underlining its Customer First Promise
Life insurance premiums up 13% in May; private insurers grow 17%
LIC records 13.8 pc jump in group premium during May
Bajaj Allianz Life Insurance Hits 99.29% Claim Settlement In FY 2024-25
Axis Max Life Insurance appoints Sumit Madan as MD & CEO