Axis Max Life Insurance Appoints Sumit Madan as MD & CEO
Private life insurer Axis Max Life Insurance has announced the appointment of Sumit Madan as managing director and chief executive officer (CEO), effective October 1, 2025, subject to regulatory approvals. Madan is currently senior director and chief distribution officer (CDO) at the company. He will succeed Prashant Tripathy, who is stepping down at the end of the September quarter to take early retirement.
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Madan brings over 25 years of experience in establishing and scaling businesses with strategic clarity, people-centric leadership, and operational rigor in high-growth and turnaround environments. He has held various leadership roles at financial institutions, including Citibank, AU Small Finance Bank, and IDFC First Bank. Since joining Axis Max Life in February 2024 as CDO, he has been instrumental in accelerating the company’s growth trajectory and advancing its strategic priorities.
Rajiv Anand, chairman of Axis Max Life Insurance, praised Madan’s elevation to the position of managing director and CEO, stating, “Sumit has a proven track record of scaling and transforming businesses, which will be invaluable as we continue to grow and innovate.” Anand highlighted Madan’s significant contribution to the company’s growth and success in FY25 through strategic foresight and leadership.
Madan’s appointment is seen as a testament to Axis Max Life’s strong leadership strength and commitment to nurturing internal talent. His deep understanding of the industry, coupled with his innovative approach to scaling proprietary distribution, deepening partnerships, and driving product innovation, positions Axis Max Life for continued success.
