Max Financial Services announced in a stock exchange filing on Monday that Rajiv Anand appointed as the Chairman of the insurance arm of Max Life Insurance Company Limited. He will replace Analjit Singh effective from December 5, 2023.

Rajiv Anand has served as Non-Executive Director of Max Life Insurance with effect from April 2023 after being nominated by Axis Bank. Currently, he is Deputy Managing Director of Axis Bank. He has also served as Managing Director and Chief Executive Officer of Axis Asset Management Co. Ltd.

In his resignation letter, Singh said ôAs the promoter of Max Financial Services and Max Life Insurance Company, it has been most fulfilling and rewarding to be an integral part of the start-up and witnessing the CompanyÆs achievements and growth over the last 23-24 yearsö.

"As part of a planned transition and as discussed with some of you in the last couple of months, I have considered it timely, to retire as the Chairman of Max Life Insurance Company Limited and as a member of the Board, with effect from December 4, pursuant to a Board of Directors meeting where my resignation will be formally tabled," said Analjit Singh is the Founder & Chairman of the Max Group in a statement to the Board of Directors of Max Life Insurance.

"Looking back, Max New York Life, was the first private sector insurance company to be incorporated in India on July 11, 2000, within about a week after IRDA permitted incorporation of private sector insurance companies in the country. And further, the same year, now 23 years ago, precisely on November 15, 2020, MNYL received its certification of registration from the IRDA," he added.