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Max New York Life Insurance appoints new CEO

Max New York Life Insurance, the joint venture between Max India and New York Life International, has named Rajesh Sud as the new CEO and managing director of the joint venture operation, effective November 1, 2008, pending formal Insurance Regulatory and Development Authority approval.

Prior to the appointment, Mr Sud was serving as Max New York Life’s deputy managing director. Gary Bennett, who has been the CEO and managing director of the company since July 2005, has been named as the executive vice president and Greater China CEO of New York Life International, effective November 1, 2008.

In addition, Rajit Mehta, Max New York Life’s deputy COO has been appointed as the new COO of the joint venture, also pending regulatory approval.

Analjit Singh, chairman of Max New York Life Insurance, said: Rajesh and Rajit’s appointments are part of an orderly management transition that has been planned for some time. We are confident that our new leadership will build on the solid foundation that is in place as we continue our journey of becoming the most admired life insurance company in India with the most professional, most highly trained agency sales force in the country.