Axis Max Life Insurance Elevates Sumit Madan to MD & CEO
Max Financial Services has announced the promotion of Sumit Madan to the position of Managing Director and Chief Executive Officer of Axis Max Life Insurance, effective October 1, 2025. Madan will succeed Prashant Tripathy, whose tenure concludes on September 30, 2025.
The Board of Directors of Axis Max Life has approved Madan’s appointment for a five-year term, running from October 1, 2025, to September 30, 2030. Currently serving as the Chief Distribution Officer at Axis Max Life, Madan has been instrumental in developing and executing the company’s distribution strategy across various business segments, including proprietary, partnerships, group, and online business.
Under Madan’s leadership, the company has witnessed significant revenue growth and improved profitability, with a focus on both the quality and quantity of business. He has ensured regulatory compliance and fostered strong relationships with customers and channel partners. Additionally, Madan has overseen the development of infrastructure to support the company’s growing business needs.
Madan has a diverse professional background, having worked with various financial institutions. He began his career at JL Morison and later worked with GESBI Cards and HDFC Bank. At Citibank India, he started as a relationship manager and rose to become the regional head for North India. He has also held key positions at AU Small Finance Bank and IDFC First Bank, serving as chief – branch banking and head – retail liabilities and branch banking, respectively.
