Axis Max Life Insurance appoints Sumit Madan as MD & CEO effective Oct 1

Private life insurer Axis Max Life Insurance on Tuesday announced the appointment of Sumit Madan as managing director and chief executive officer (CEO) of the company, effective October 1, 2025, subject to regulatory approvals, according to a press release.

 

Madan is currently senior director and chief distribution officer (CDO) at the company. He will take over from Prashant Tripathy, who has decided to take early retirement and will step down at the end of the September quarter.

 

In its press release, the insurer said: “Madan brings over 25 years of experience in establishing and scaling businesses with strategic clarity, people-centric leadership and operational rigour in high-growth and turnaround environments. He has held various leadership roles at financial institutions.”

 

Previously, at Citibank, he managed diverse portfolios across geographies. He has also worked at AU Small Finance Bank and IDFC First Bank in various roles. 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, the insurer said.

 

Rajiv Anand, chairman of Axis Max Life Insurance, said: “We are delighted to announce Sumit’s elevation to the position of managing director and CEO, effective October 1, 2025. Sumit 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.”