Axis Max Life Insurance elevates Sumit Madan to MD & CEO

Max Financial Services has elevated Sumit Madan to the position of managing director and chief executive officer of Axis Max Life Insurance. Madan, who currently heads Axis Max Life as the chief distribution officer, will replace Prashant Tripathy, whose tenure ends on September 30, 2025.

The Board of Directors of Axis Max Life approved the promotion of Madan for five years effective from from October 1, 2025 till September 30, 2030.

As the chief distribution officer, Madan was leading the development and execution of distribution strategy for proprietary, partnerships, group and online business.

He drove the company’s revenue growth and profitability, with focus on both the quality and quantity of business, ensuring regulatory compliance and maintaining strong relationships with customers and channel partners. He oversaw and ensured availability of capacity and infrastructure to cater to growing business needs.

Madan began his career as an area sales manager at JL Morison. Then, he worked across GESBI Cards, HDFC Bank. He started his journey at Citibank India as a relationship manager, and was elevated to regional head - North India.

He headed AU Small Finance Bank and IDFC First Bank as the chief - branch banking and head - retail liabilities and branch banking respectively.