Max Financial Services Limited has informed the Exchange regarding 'Disclosure under the Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI LODR ) Appointment of Director in Axis Max Life Insurance Limited, the material subsidiary of the Company'.
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Max Financial Services has disclosed the appointment of Mr. Sanjay Vij as an Additional Director (Independent category) on the Board of Axis Max Life Insurance Limited, its material subsidiary. Mr. Vij's appointment is effective April 6, 2026 for a term of 5 years till April 5, 2031. He replaces Mr. Rajesh Khanna, who is retiring from his position as Independent Director effective end of April 5, 2026. Mr. Sanjay Vij brings over two decades of life insurance experience, having served at HDFC Life (as Group Head - Bancassurance and Chief Values Officer), Exide Life (Executive Director), and Digit Life (Deputy CEO). His appointment is subject to shareholder approval at the upcoming AGM.
This is a routine board succession at the subsidiary level with no material impact on Max Financial Services. The appointment of an experienced insurance industry veteran as an independent director may bring governance value to Axis Max Life.