Max Life Insurance, a leading life insurer, on Friday announced a change in leadership effective January 1, 2019.

Rajesh Sud, Executive Vice- Chairman and Managing Director, will hand over the reins to Prashant Tripathy, Senior Director and CFO, on January 1. V Viswanand, who is currently Senior Director and Chief Operations Officer, will be designated as Deputy Managing Director, a company release said. These appointments are subject to regulatory approvals. Rajesh will continue till December 31, 2018 as Executive Vice-Chairman and MD of Max Life and will continue to be the non-executive Chairman of Max Bupa and Nax Skill First till March 31, 2019, the release added.

Rajesh has been with Max Life for 18 years and by the end of December 2018 he will complete his second five-year term as Executive Vice-Chairman and MD, Max Life Insurance.

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