Axis Max Life Insurance Appoints Sumit Madan as MD & CEO
Max Financial Services announced on Tuesday that it has approved the appointment of Sumit Madan as the Managing Director & Chief Executive Officer of Axis Max Life Insurance. Madan, currently serving as Chief Distribution Officer at Axis Max Life, will succeed Prashant Tripathy.
Prashant Tripathy has requested early retirement, and his tenure is set to end on September 30, 2025. The Board of Directors of Axis Max Life approved Madan’s elevation to MD & CEO for a five-year term, effective from October 1, 2025, to September 30, 2030, subject to shareholder approval.
Axis Max Life Insurance is a subsidiary of Max Financial Services, a joint venture between Max Financial Services Ltd and Axis Bank. Madan’s appointment is subject to approval from the Insurance Regulatory and Development Authority of India (IRDAI) in accordance with applicable laws.
The company’s leadership change is part of its ongoing operations, with Madan taking over key responsibilities from Tripathy. The appointment reflects the company’s strategic direction under its current ownership structure.
