Max Life Insurances Board of Directors

Max Life Insurances Board of Directors

Mr. Analjit Singh

Chairman, Max Life and Founder & Chairman Emeritus

Mr. Analjit Singh is the Founder and Chairman of Max Group. Professionally, he is the non-executive Chairman of multiple Max Group companies - Max Financial Services, Max India, Max Ventures & Industries, Max Life and Antara Senior Living. He is also a Director on the Board of Sofina NV/SA, Belgium. Till October 2018, he was the non-executive Chairman of Vodafone India. 

An industry statesman, he was awarded the Padma Bhushan, one of India’s top civilian honours in 2011. He is also the Chairman of Vodafone India, and is on the Board of Tata Global Beverages and Sofina NV/SA, Belgium. He has significant interests in real estate in India and lifestyle related ventures in the Western Cape, South Africa, pertaining to viticulture, wine making and hospitality.

Mr Analjit Singh is a member of the Founder Executive Board of the Indian School of Business (ISB), India’s top ranked B-School and has served as Chairman of Board of Governors of The Indian Institute of Technology (IIT), Roorkee - India’s oldest and most prestigious engineering college and The Doon School, a premier Indian boarding school. 

Mr Analjit Singh has also served on the Prime Minister’s Indo US CEO council was also the co-chair of Prabodhan, a unique forum for facilitating closer and more effective engagement between European and Indian decision makers and opinion leaders.

In 2014, he was awarded with Spain’s second highest civilian honour, the Knight Commander of the Order of Queen Isabella. He is an alumnus of Doon School and Shri Ram College of Commerce (SRCC), Delhi University, and holds an MBA from Boston University.

In 2015, he was conferred the Degree of Honorary Doctorate by Amity University in recognition of his unique achievements in the fields of business, governance and education. He also serves as the Honorary Consul General of the Republic of San Marino in India.

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Mr. K. Narasimha Murthy

Director, Max Life Insurance Co. Ltd.

Mr. K. Narasimha Murthy was appointed as an Independent Director of Max Life Insurance Co. Ltd. with effect from August 23, 2013. He holds brilliant academic records with ranks in both CA & ICWA courses and entered the Profession of Cost & Management Accountancy in 1983 after initial experience from TATA Iron & Steel Company Ltd., (TISCO). Expert in his field, he has to his merit credits of turning around of many large Corporates, focusing on systems improvement with Cost Reduction approach. He is associated with the development of Cost & Management Information Systems for more than 175 Companies covering more than 50 Industries. He has been associated with more than 30 Government Committees both at / Central and State Level as Chairman / Member. Presently, he is Advisor (Financial Services) to Government of Andhra Pradesh in the Rank of Special Chief Secretary. He is also on the Board of several large Companies.

In the past, Mr. Murthy has served as a Director with IDBI Bank Ltd.(2001-11), UTI Bank Ltd., (presently AXIS Bank)(1999-2004), Unit Trust of India (UTI)(2002-03), IFCI Ltd.(2008-09), APIDC Ltd., Bombay Stock Exchange and many more. As the Chairman of Expert Committee on Urban Co-op. Banks (UCBs)(2002) in A.P., he has analysed the performance of more than 140 UCBs.

His efforts in the furtherance of Costing & Management Accounting Profession in India have been recognised by the Institute of Cost & Works Accountants of India (ICWAI). The institution honoured him with citation in October 2007. He was also nominated as a Member Convener on the Implementation & Monitoring Committee on Audit Reforms in Public Sector Banks by the Govt. of India.

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Mr. D.K. Mittal

Director, Max Life Insurance Co. Ltd.

Mr. D. K. Mittal was appointed as an independent non-executive Director of Max Life Insurance with effect from April 01, 2014. He is a former Indian Administrative Service (IAS) officer of 1977 batch (UP cadre) and has served the government of India in various capacities. Mr. Mittal was Secretary, Department of Financial Services, where he was responsible for overseeing Banking, Insurance and Pension policies of India. During his tenure he worked very closely with the RBI and was on the Board of the RBI, LIC, State Bank of India, IIFCL and IIFCL(UK). Previously as Secretary, Ministry of Corporate Affairs, he has worked closely with ICAI, ICSI and ICWAI. As an Additional Secretary, Department of Commerce, Mr. Mittal was the chief negotiator of India for WTO negotiation.

Mr. Mittal was the chief negotiator of India for WTO negotiation. He also supervised all multilateral Preferential Tariff negotiations, development and operation of SEZs in India and FDI and Overseas Investment from India. As Joint Secretary, Ministry of Commerce, he had oversight of International Trade and Special Economic Zones. He formulated SEZ policy in March 2000 for the first time in India. He was with ILFS on secondment from the Govt of India and worked in the area of project development and financing of infra projects.

Mr. Mittal has hands on experience in Infrastructure, International Trade, Urban Development, Renewable Energy, Agriculture Development and Micro- Credit, Corporate Governance, Banking, Insurance, Pension and Finance. He holds a Master’s degree in physics with specialization in Electronics from University of Allahabad, India.

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Ms. Marielle Theron

Director, Max Life Insurance Co. Ltd.

Ms.Theron was appointed Director of Max Life Insurance with effect from May 2009. Ms. Theron, a Fellow of the Society of Actuaries, has over 30 years’ experience in the financial service industry. She is a Principal of Erlen Street Corporation, Switzerland, a company that specialises in strategic investment and management consulting solutions.

Prior to that, Ms Theron worked in both consulting and corporate roles for multi-national companies and governments across Europe, Asia, Australia, New Zealand and South Africa, advising on insurance and investment related solutions. She holds a B.Sc. majored in Actuarial Science from Laval University, Canada and is a Fellow of the Society of Actuary (FSA).

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Mr. Mohit Talwar

Director, Max Life Insurance

Mr. Mohit Talwar was appointed as an Additional Director of Max Life Insurance with effect from January 30, 2016.

Mohit Talwar is the Managing Director of Max Financial Services and Max India. In addition, he is the Vice Chairman of Max Ventures & Industries Limited (MVIL), Chairman of Max Speciality Films and serves on the Boards of Max Life Insurance, Max Healthcare, Max Bupa and Antara Senior Living. 

Till January 2016, Mr. Talwar was the Deputy Managing Director of the erstwhile consolidated Max India Limited. In this role, Mr. Talwar led on multiple fronts including effective shareholder alignment – especially with Max Group’s valued joint venture partners, progressing new business opportunities – both organically and inorganically, ensuring appropriate funding arrangements for the Group, optimizing capital management and treasury, managing investor and analyst relations and advising management and shareholders on capital market implications. In his tenure with the Max Group, he has successfully leveraged his strong relationships with institutional investors, hedge funds, banks and private equity firms, and led several complex corporate finance and financial structuring deals to ensure adequate investment and liquidity for the Company’s operations. He spearheaded the setting up of Max Bupa Health Insurance, the Health Insurance Joint Venture of Max India with Bupa. Mr. Talwar is also responsible for driving synergies across the Max Group and has played a central role in executing key transactions across Group companies. These include, among others, bringing on board MS&AD Insurance Group Holdings, a Japan-headquartered global insurance company, as the new joint venture partner for the Group’s life insurance business, Life Healthcare’s investment of 26% in Max Healthcare, and later the equalization of its stake in the business, and most recently, the mega-restructuring of the erstwhile Max India into three new listed companies.

Mr. Talwar has a wealth of experience in Corporate Finance and Investment Banking, and spent 24 years in Wholesale Banking in Standard Chartered, ANZ Grindlays and Bank of Nova Scotia.

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Mr. Rajit Mehta

Director, Max Life Insurance Co. Ltd.

Rajit Mehta is the Managing Director and Chief Executive Officer of Antara Senior Living, a subsidiary of Max India Limited that pioneers the concept of ‘Age in Place’ by developing senior living communities. He also oversees the New Business Initiatives at Max India and Human Capital function at Max Group as an advisor.

Rajit is a Non-Executive Director at Max Life Insurance and Max Skill First.

As Antara’s MD and CEO, Rajit spearheads Antara 2.0 – a rejuvenation strategy that aims to propel the premier senior living organisation towards a new scale of growth and operations.

Previously, Rajit has served as the MD & CEO for Max Healthcare where he led a transformation journey for Max Healthcare through a 5C framework, comprising Care, Clinical Excellence, Cohesion, Commitment and Compliance. He also successfully helped Max Healthcare achieve its vision of being the most admired healthcare company in India known for clinical and service excellence. Under Rajit’s leadership, MHC made two large acquisitions which significantly increased its footprint in NCR. He led the seeding of alternate business models in Home Care, Diagnostics and Oncology day care, keeping in mind emerging trends and to secure future growth. Under his watch, the company doubled its earnings (EBITDA), revenue and valuation within a 5 year period.

Rajit has also been a founder member of Max Life Insurance and was instrumental in helping Max Life become an admired and profitable Company. During his tenure at Max Life as Chief Operating Officer, he undertook additional responsibilities as the Chief Transformation Officer and provided oversight on execution of key initiatives; designing and implementing new work systems; aligning key stakeholders; rationalising the cost structure to improve profitability; and laying down a comprehensive change management agenda. Rajit has played a strategic role in helping Max Life expand its distribution footprint across India including facilitating a project to “Revamp Sales processes”. The project culminated in Rajit co-authoring a book titled “Growth Leadership Practices at Max Life”. He was also the co-lead for Project Max Vijay, an innovative retail business model aimed at providing protection and long-term wealth creation opportunities to the underserved segments in India. The initiative was recognized with the Golden Peacock Award at London in September 2008 and Asia Insurance Industry Award – Innovation of the year at Singapore in November 2009.

During his tenure as Chief Operating Officer, Max Life progressed its Quality & Service Excellence journey. This included putting a Service Blueprint in place, implementing a comprehensive outsourcing strategy to impact customer experience and cost and embedding the Max Performance framework in the business.

Rajit mentored the setting up of Max Skill First (MSF), which is now providing learning and skilling solutions to all Max Group companies as well as to a few external organisations in the financial services space.

Prior to Max Life Insurance, he was the Director – Personnel at Bank of America and has also worked with HCL. His total experience spans 3 decades. Rajit is a graduate in Commerce, post graduate in Human Resources and has also attended an Advanced Management Program at INSEAD – France. He is the recipient of the Chairman’s Award at Max Life Insurance.

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Mr. Pradeep Pant

Director, Max Life Insurance Co. Ltd.

Mr. Pradeep Pant was appointed as an Independent Director of Max Life Insurance with effect from February 07, 2019. He is a highly experienced senior business leader, with active involvements in business consulting and education and holding several board positions. He is currently a Director on the Board of Max Bupa Health Insurance Company Limited and Antara Senior Living Limited. With over 37 years of experience in the FMCG industry, Mr. Pradeep Pant is an expert in building businesses in both mature and emerging markets. He has a deep understanding of market dynamics and cultural diversity. He has a proven track record and passion for turning organizations around.

Mr. Pant was Executive Vice President and President of Asia Pacific (AP) and Eastern Europe, Middle East and Africa (EEMEA) for Mondelēz International till end 2013. He has served as President, Asia Pacific, since 2008 and he assumed his responsibility for the EEMEA region in 2012. Previously, Mr. Pant was Regional Managing Director for Asia, Africa, and the Middle East for Fonterra Brands. He was a member of the Fonterra leadership team as well as the company’s global brands marketing group. Prior to Fonterra, he spent 19 years with The Gillette Company working in India, Russia, Turkey and Asia Pacific. Mr. Pant has also worked with Nestle, J Walter Thompson and the Tata group.

Mr. Pant holds a Master of Management Studies degree from the Jamnalal Bajaj Institute of Management Studies, Bombay University, and a BA with Honors degree in Economics from Shri Ram College of Commerce, Delhi University. Pradeep is also the Founding President of Food Industry Asia (FIA), an Advisory Board Member of SMU Lee Kong Chian School of Business 2010-2018 and a Senior Advisor to McKinsey & Co as well as a host of International Companies. He sits on the Supervisory Boards of Max BUPA Health Insurance India, Antara Senior Living India and Royal DSM N.V. Netherlands among others.

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Mr. Deepak Bhattasali

Director, Max Life Insurance Co. Ltd.

Mr. Deepak Bhattasali was appointed as an Independent Director of Max Life Insurance with effect from February 07, 2019. Combining international experience in finance and industrial projects, academic research in economics, and development banking, Deepak Bhattasali brings unique skills and perspectives to Max Life.

Deepak started his career with a Japanese Government aid agency in Tokyo, after which he taught economics, trade and finance in Boston.  Thereafter, he held positions with Chase Manhattan Bank on Wall Street and with the International Finance Corporation and World Bank in Washington DC.  During this time with the World Bank Group he initiated and managed numerous projects for national banking, broader financial development, and export and industrial development in several East Asian, Latin American and African countries. He was also deeply engaged in assisting national leaders and other decision-makers with the formulation of strategic macroeconomic and industrial policies, especially when he was resident for almost five years each in China and Indonesia.  Deepak also initiated and managed a number of big-ticket policy support lending operations, such as the $2 billion banking support operation in India, $250 million policy adjustment project in Ethiopia, and the $100 million hybrid policy/investment lending engagementsin Kenya, among others. He had a brief stint with Hewlett-Packard (Asia), at which time he worked on helping develop the channel distributionend of the business in Vietnam and the Philippines.  For two years Deepak worked closely with US President Clinton’s office for recovery after the 2004 tsunami in South and South East Asia. After leaving the World Bank Group he focused on infrastructure and it’s financing, first as a senior advisor to the Asian Development Bank, subsequently as an advisor to a joint India-Japan infrastructure partnership fund. Currently, Deepak teaches graduate courses in economics and financial development at Georgetown University in the US.

Deepak has initial degrees from Delhi and Tokyo and a doctorate in economics from Boston. He has several academic and technical publications, and is in high demand internationally as a speaker at seminars, teach-ins, and conferences. He is an expert on the antique maps and atlases of China, India and Japan, and is an accomplished painter.

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Mr. Sahil Vachani

Director, Max Life Insurance Co. Ltd.

Mr. Sahil Vachani is CEO & Managing Director, Max Ventures and Industries Limited, which is the holding company for Max Speciality Films, an innovation leader in the Speciality Packaging Films business; Max Estates, the commercial and residential real estate development arm; Max Learning, the education vertical; and Max I an Investment arm, wherein he is responsible for the overall strategic vision and direction of the company. He has diverse experience across various sectors including consumer durables and real estate.

He holds a Bachelor’s degree in Management Sciences from the University of Warwick, U.K. backed up by an Executive Management Program on Disruptive Innovation from the Harvard Business School. He started his career as an investment banker with Citigroup in London, where he worked on Mergers and Acquisitions across the Middle East and Africa region. In 2004, he joined Dixon Technologies, a consumer appliance manufacturing firm as Business Head and setup new verticals across multiple locations and was involved in the launch of new products, setting up of new manufacturing facilities and establishing relationships with leading brands as customers.

His next career progression was in 2008 as Co-founder and Managing Director of Dixon Appliances Pvt. Ltd., where he was responsible for the business from inception including designing of products, building the team, setting up the manufacturing facility, operations and building relationships with leading brands in India such as Panasonic, Godrej, LG, among others. The Company emerged as the single-largest third party contract manufacturer of Washing Machines for the Indian market. In July 2015, Mr. Vachani sold his shareholding in the company to pursue new opportunities.

An avid reader, Mr. Vachani also enjoys playing squash and running.

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Mr. Naoyuki Sakaki

Director, Max Life Insurance Co. Ltd.

Mr. Naoyuki Sakaki, General Manager – Asian Life Insurance Business Development of MSI is associated with MSI since 1987 and has more than 30 years experience in insurance industry. He is visiting fellow member of Centre on Japanese Economy and Business of Columbia Business School, New York and has completed BA in Architecture from Tokyo University. He has the vast experience of working in insurance industry including 13 years experience in Fire & Casualty Underwriting Dept. and has a good knowledge of Engineering Insurance, Movable All Risks Insurance, Surety and Credit Insurance etc., he also have 8 years experience in Marketing Dept. in charge of Engineering, Trading and Oil Companies; and he has good experience in promoting both General and Life Insurance and 7 years experience of Overseas Business Promotion in Thailand and Singapore. In Thailand, his position was Deputy CEO of MSI Thailand Branch in charge of Underwriting, Risk Management, Settling 2011 Great Thai flood claims, improving motor portfolio etc., In Singapore, his position was Executive Vice President of MSIG Holdings (Asia), which is Regional Holding Company under MSI for its businesses in South East Asia and was in charge of Underwriting, Claims, Business Promotion, Motor Portfolio Improvement, Product Development etc.

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Prashant Tripathy

Managing Director & Chief Executive Officer

A seasoned professional with over two decades of experience across Finance, Organisational Strategy, Operations, Risk Management and Investor Relations, Prashant Tripathy leads Max Life Insurance as the Managing Director & Chief Executive Officer. Having spent 12 years with the Company, Prashant was earlier the Chief Financial Officer of the Company, spearheading Financial Management and the Corporate Strategy, as well as playing a critical role in managing Investor Relations and Communications for Max Financial Services Ltd., the parent company of Max Life Insurance.

Prashant joined Max Life as Head of Strategy in 2007 and led all organizational strategic initiatives on growth and profitability. In his eight years’ tenure as the CFO, Prashant played a pivotal role in positioning Max Life Insurance as a respected private life insurance company. A keen strategist, he helped navigate the organization through several regulatory changes and corporate actions. Through his years with the company, Prashant has anchored Max Life’s efforts towards expansion, growth and strategic partnerships.

It is during his tenure as CFO, that Max Life gained market share and grew to be the fourth largest private life insurer and the largest non-bank promoted private life insurance company in India. Through this period, margins, Return on Embedded Value (RoEV) and other financial outcomes of Max Life, all witnessed consistent growth.

Prashant is passionate about people, be its customers, partners or employees. He brings with him a strong focus on building a customer- centric culture in the organization, and on delivering “real value” to customers at every moment of truth. His mantra for employees is deep-rooted in his belief in the values of the organization and respect for the uniqueness and diversity each and every employee brings to the organization.

Prior to joining Max Life Insurance, Prashant was associated with GE and Genpact for eight years in India as well as in the UK. During the early days of his distinguished career, Prashant worked with Tata Steel, Jamshedpur where he was responsible for the operations of a steel plant. Prashant holds a degree in Chemical Engineering from IIT Kharagpur and is a Post Graduate in Management from IIM Bangalore.

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Deputy Managing Director

An industry veteran with a dynamic presence in the financial services sector for nearly three decades, V. Viswanand is Deputy Managing Director at Max Life Insurance and a member of the Board. In his role, he is responsible for Distribution, including Proprietary Channels, Bancassurance and Third Party Business, Institutional Sales, Business Development and Distribution Operations. He also steers the strategic direction and growth of the company through his deep involvement in the strategy formulation processes. Additionally, he leads the Max Skill First training partnership as well as the Procurement and Facilities functions.

A Founder Team Member of Max Life, Viswanand has been associated with the Company for nearly two decades and has consistently demonstrated qualitative leadership across diverse verticals including Agency, Banccasurance, Direct Sales, Product Development, Persistency management, Operations, Technology, Quality, Innovation & Service Excellence. In his previous role at Max Life Insurance, Viswanand was Senior Director and COO. Prior to that he was Director & Head - Product Solutions Management wherein he enabled two large scale transformations in the face of regulatory changes which resulted in significant increase in market share of the company.

Over the years, Viswanand has played an instrumental role in not only propelling Max Life to emerge as the industry leader in Customer Retention, Claims Paid Ratio and Customer Loyalty but also had led the Company’s wins in several global and national accolades in Quality and Technology, including the coveted Gold medal at ASQ, USA and RBNQA.

Prior to joining Max Life Insurance, Viswanand was a retail banker with ANZ Grindlays Bank for nearly a decade. He holds a Master’s degree in Management Studies from BITS, Pilani. 

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Mr. Hideaki Nomura

Director, Max Life Insurance Co. Ltd.

Mr Hideaki Nomura was appointed Director of Max Life Insurance Co. Ltd. with effect from June 27, 2012. He is also a General Manager of Asian Life Insurance Business Dept. of Mitsui Sumitomo Insurance Co., Ltd. in Japan.
He has 31 years experience in financial industries including insurance, banking and investment banking.

In his tenure with Mitsui Sumitomo Insurance., Ltd. ("MSI") for 19 years, he steered and supervised Asian life insurance affiliates’ business as a shareholder. He also took a strategic role in helping the company expand into Asian local insurance businesses by analyzing, structuring and valuating M&A transactions, such as Sinatay Life in China, Sinarmas Life in Indonesia, Hong Leong Assurance in Malaysia, Hong Leong Takaful in Malaysia, Mingtai Insurance in Taiwan, etc.

He was also in charge of establishing new businesses, such as Unit-Linked Annuity Joint Venture with Citigroup, defined contribution business and mutual fund business.

Prior to joining MSI, He spent 12 years in Nippon Credit Bank (currently Aozora Bank) and its investment banking subsidiary in London, where his roles were bond trading, fixed income market analysis, financial derivatives sales, credit analysis and providing loans to corporations.

He holds an MBA from Graduate School of International Corporate Strategy, Hitotsubashi University, Tokyo, completed his exchange program from Anderson Business School at University of California, Los Angeles and has a BA in Economics from Keio University, Tokyo.

He is a Chartered Member of the Securities Analysts Association of Japan and a Certified Financial Planner granted by Japan Association for Financial Planners.

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