Max Financial Services has announced a key leadership transition within its material subsidiary, Axis Max Life Insurance. Mr. Mitsuru Yasuda has resigned from his position as a Non-executive Director, effective the close of business on May 6, 2026. In his place, the Board of Directors has appointed Mr. Toru Nakabayashi as an Additional Director in a non-executive capacity, effective May 7, 2026.
Leadership Transition at Axis Max Life
Axis Max Life Insurance has confirmed a change in its board composition. Mr. Mitsuru Yasuda, a Non-executive Director, stepped down from his role at the conclusion of business hours on May 6, 2026. The company has moved quickly to fill the vacancy, ensuring continued leadership stability.
Appointment of New Director
Mr. Toru Nakabayashi has been appointed as an Additional Director to the board of Axis Max Life in a non-executive capacity, effective May 7, 2026. He will hold this office until the date of the next Annual General Meeting, at which point his appointment will be subject to regularization by the shareholders. Mr. Nakabayashi is designated as a representative for Max Financial Services on behalf of Mitsui Sumitomo Insurance Company Ltd.
About the Incoming Director
Mr. Toru Nakabayashi brings over 20 years of extensive experience in the insurance sector, having served in leadership roles across Japan, Indonesia, and Malaysia. His professional background includes expertise in life and health insurance, corporate governance, risk management, and strategic business development. Previously, he served as the Chief Customer and Marketing Officer at PT MSIG Life Insurance Indonesia Tbk. and held key positions within the Mitsui Sumitomo Insurance Group, focusing on overseas subsidiary governance and bancassurance partnerships.
Source: BSE
