Max Life announces leadership transition

Max Life Insurance, one of the leading life insurance companies in India, announced a change in leadership effective January 1, 2019.

After 18 years of building Max Life Insurance in becoming one of India's largest and highest quality life insurance companies, and on completion of his second five- year term as Executive Vice Chairman and Managing Director of Max Life Insurance, Rajesh Sud will hand over the reins to Prashant Tripathy, who is currently Sr. Director and Chief Financial Officer of the company.

In addition, V. Viswanand, currently Sr. Director and Chief Operations Officer for Max Life, will be designated Deputy Managing Director. These appointments are subject to requisite regulatory approvals.

Rajesh will continue till December 31, 2018 as Executive Vice Chairman and Managing Director of Max Life and will continue to be the non-executive Chairman Max Bupa and Max Skill-First till March 31, 2019.

Prashant joined Max Life in February 2007 and has successfully led Finance, Strategy, Risk, Investor relations, Internal Assurance and Analytics. Viswanand is a Founder Team Member of Max Life and has led diverse areas such as Agency distribution, operations, customer service, technology and product management.

"Rajesh has built a strong and talented team and a high-quality institution, which is admired internally and externally. Under his leadership, Max Life has been recognised for setting industry benchmarks in many areas such as agency productivity, outstanding bancassurance relationships, customer persistency, claims delivery and a market-leading digital transformation. His personal passion for people, values and culture has embedded itself deeply in Max Life, which has been repeatedly recognised as a top order "Great Place To Work" company. Prashant and Viswanand's elevation is in line with our preference for internal succession and recognition of the strong executive leadership team at Max Life. We are excited by the superb combination of capabilities that these leaders will bring to Max Life for its progress and growth," said Rahul Khosla, President, Max Group and Chairman, Max Life Insurance.

Speaking on the proposed change in leadership, Rajesh Sud, the outgoing Executive Vice Chairman and Managing Director said, "It has been a privilege to have built Max Life since inception and to have led it for a decade. It has been a fulfilling journey and I am proud to have worked in the Max group with some of the best minds and the most talented people in the industry. I am confident that the organisation will achieve new heights of success under the able leadership of Prashant Tripathy and Viswanand in the years ahead. I congratulate them and wish them the very best in their new roles."

"I am thankful for the honour of being appointed as Managing Director and CEO of Max Life Insurance. It has been a source of personal pride to have worked with Rajesh over the last many years. I have great faith in the drive and competence of this organisation and the strong team that will continue to deliver consistent results as well as customer experience in the coming years," added Tripathy.

V Viswanand said, "As a founder team member I have had the pleasure of helping to build Max Life working alongside Rajesh and the team. I look forward to working with Prashant and the team to take Max Life to the next level of performance and excellence."

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