Axis Max Life Insurance has named Sumit Madan as its next managing director and chief executive officer, effective October 1, 2025, pending necessary regulatory approvals. Madan, who currently serves as senior director and chief distribution officer, will take over from Prashant Tripathy, who has opted for early retirement after a distinguished association with the company since 2007.

Tripathy will officially step down on September 30, 2025, expressing his desire to focus on personal goals and priorities. His leadership over the years has played a key role in shaping the company’s journey.

Sumit Madan brings with him more than 25 years of leadership experience across top financial institutions. At Citibank, he handled multiple portfolios across markets and became known for reviving underperforming business units through operational clarity, people-driven leadership, and strategic execution. He later joined AU Small Finance Bank, where he helped build the branch network from the ground up and contributed to its transition from an NBFC to a full-fledged commercial bank, including a successful IPO. At IDFC FIRST Bank, Madan played a major role in scaling branch banking and boosting retail growth through customer-centric strategies.

Since joining Axis Max Life in February 2024, Madan has helped accelerate the company's growth by expanding partnerships and strengthening proprietary distribution channels. His leadership has aligned with the company’s vision of category leadership and sustainable business growth.

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Rajiv Anand, chairman of Axis Max Life Insurance, expressed confidence in Madan’s appointment, stating, “We are pleased to elevate Sumit to the role of MD and CEO. His proven ability to transform and scale businesses, along with his understanding of the life insurance landscape, makes him the ideal choice to lead the company forward.”

Sharing his vision, Madan said, “It is a privilege to lead Axis Max Life as we move into a new phase of growth. Our recent achievements reflect our commitment to building a customer-first, execution-focused organization. I look forward to continuing this momentum and creating long-term value for our stakeholders.”

 

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