Axis Max Life Insurance Appoints New MD & CEO
Chennai: Axis Max Life Insurance has announced the appointment of Sumit Madan as its new Managing Director & Chief Executive Officer (MD & CEO), effective October 1, 2025, subject to regulatory approvals. Sumit will succeed Prashant Tripathy, who is retiring on September 30, 2025.
Sumit’s Background
Sumit brings over 25 years of experience in establishing and scaling businesses with strategic clarity, people-centric leadership, and operational rigor. He has held leadership roles at premier financial institutions, including Citibank, AU Small Finance Bank, and IDFC FIRST Bank.
Achievements at Axis Max Life
As Senior Director & Chief Distribution Officer (CDO) at Axis Max Life, Sumit has been instrumental in accelerating the company’s growth trajectory and advancing its strategic priorities. Under his leadership, Axis Max Life has achieved key milestones, including:
- Climbing to the #4 position in FY25
- Entering the top 3 among private life insurers in the second half of the year
- Achieving the #1 rank in E-commerce and Protection penetration among top private insurers
Rajiv Anand, Chairman of Axis Max Life Insurance, said, “We are delighted to announce Sumit’s elevation to the position of MD & CEO. Sumit has a proven track record of scaling and transforming businesses, which will be invaluable as we continue to grow and innovate.”
Sumit Madan, CDO and CEO designate, stated, “I am honored and excited to lead Axis Max Life into its next phase of growth. 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.”
