New Delhi, India — Max New York Life Insurance Ltd., the joint venture between Max India Ltd. and New York Life International LLC, the international arm of New York Life Insurance Co., announced that Rajesh Sud, was named CEO and managing director of the joint venture operation, effective November 1, pending formal IRDA approval.
Prior to the appointment, Sud was serving as Max New York Life’s deputy managing director. Gary Bennett, who served as CEO and managing director of the company since July 2005, has been named EVP and Greater China CEO of New York Life International LLC, effective November 1. In a related announcement, Rajit Mehta, Max New York Life’s deputy COO was appointed as the COO of the joint venture, also pending regulatory approval. Analjit Singh, Chairman Max New York Life Insurance, says “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. We thank Gary Bennett for all that he has done on behalf of Max New York Life, and wish him the very best in his new role.” Source: Max New York Life
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