Max Life Insurance, a leading life insurer, on Friday announced a change in leadership effective January 1 next year. Rajesh Sud, Executive Vice-Chairman & Managing Director, Max Life Insurance, will hand over the reins to current Sr. Director & CFO, Prashant Tripathy, on January 1.

V Viswanand, who is currently Sr. Director and Chief Operations Officer, will be designated as Deputy Managing Director, a company release said.

These appointments are subject to the requisite regulatory approvals. Sud will continue as Executive Vice-Chairman & Managing Director of Max Life till December 31, 2018, and will continue to be the non-executive Chairman, Max Bupa and Nax Skill First, till March 31, 2019, the released added.

Sud has been with Max Life for the last 18 years and would complete his second five-year term as Executive Vice-Chairman & Managing Director of Max Life Insurance at the end of December.

Commenting on the development, Rahul Khosla, President, Max Group and Chairman, Max Life Insurance said, “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”.

Khosla also said Max Life was excited by the “superb combination of capabilities” that Prashant Tripathy and V. Viswanand will bring to the company for its progress and growth.