Axis Max Life Insurance, formerly known as Max Life Insurance Company, announced Sumit Madan as the new managing director and chief executive officer (MD & CEO), effective October 1, 2025, subject to regulatory approvals. Madan, currently senior director and chief distribution officer (CDO), will succeed Prashant Tripathy following his early retirement. Tripathy, who has been associated with Axis Max Life since 2007, expressed his desire to retire from his position as MD and CEO, effective September 30, 2025, to devote time to personal pursuits and priorities. 

Madan boasts over 25 years of vast experience in developing and expanding businesses with strategic insight, a people-oriented leadership style, and operational discipline in both high-growth and turnaround situations. He has held numerous leadership positions at top financial institutions. While at Citibank, he oversaw various portfolios across different regions and consistently achieved results in difficult markets, establishing a solid reputation for revitalizing underperforming business divisions by applying strategic insight, operational rigor, and a people-focused leadership approach in complex, high-pressure environments.

Rajiv Anand, chairman of Axis Max Life Insurance, says, “We are delighted to announce Sumit Madan’s elevation to the position of managing director and CEO, effective October 1, 2025. Madan has a proven track record of scaling and transforming businesses, which will be invaluable as we continue to grow and innovate. At Axis Max Life, he has contributed significantly to our growth and success in FY25 with strategic foresight and leadership. 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. His appointment is a testimony to our strong leadership strength and commitment to nurturing internal talent.”

Sumit Madan, CDO and the CEO designate, says, “I am honoured and excited to lead Axis Max Life into its next phase of growth. Our achievements over the past year are a testament to our ambition to lead with purpose, scale with speed, and strengthen our distribution engine with a relentless focus on execution excellence." 

 

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"I am committed to building on the strong foundation laid by Prashant, with a sharp focus on driving profitable growth, accelerating innovation, and nurturing a people-first culture to create long-term value for our customers, partners, and shareholders in an ever-evolving industry,” adds Sumit.