Axis Max Life Insurance’s Managing Director (MD) and Chief Executive Officer (CEO), Prashant Tripathy, will step down from his position effective 30 September 2025. Tripathy, who has been associated with the company since 2007 and has served as MD and CEO for the last six years, is retiring to focus on personal pursuits and priorities.

The announcement was made through an official filing on Wednesday, wherein the company confirmed that Tripathy expressed his desire to retire from his leadership role. The filing further explained that the decision was reviewed and approved by the Nomination and Remuneration Committee (NRC) and the Board of Directors in their respective meetings held earlier the same day. This approval aligns with applicable laws and Axis Max Life Insurance’s governance policies.

“Prashant Tripathy has conveyed his wish to retire from the position of Managing Director and Chief Executive Officer, effective September 30, 2025, to devote time to personal pursuits and priorities,” the company said in the stock exchange filing.

Following the announcement, the Board of Directors has initiated the process to identify and appoint a suitable successor to lead the company forward. The appointment of the new MD and CEO will be subject to necessary regulatory approvals, ensuring compliance with the industry’s regulatory framework.

Prashant Tripathy’s tenure has been marked by steady leadership and strategic growth for Axis Max Life Insurance, a joint venture between Axis Bank and Max Financial Services. The company has expanded its presence in the highly competitive Indian life insurance sector under his stewardship. His leadership was instrumental in driving business transformation and reinforcing the company’s commitment to delivering value to its customers.

Tripathy’s departure marks the end of an era for Axis Max Life, where he has been a key figure in shaping the company’s direction since 2007. His six-year stint as CEO saw the company navigating the evolving insurance landscape and strengthening its market position amidst increasing competition and regulatory changes.