Bharti AXA Life Insurance announced the appointment of Parag Raja as Managing Director and CEO of the company. This is subject to regulatory approval.
The insurance company is a joint venture between Bharti Enterprises and multinational insurance firm AXA. From the April 1, 2019, to February 29, 2020, the life insurer collected first year premium of Rs 750.73 crore, a year-on-year decline of 2.1 percent.
Raja will succeed Vikas Seth, who led Bharti AXA Life Insurance for the past two-and-a-half years, after April 30.
Prior to this, Raja was the Chief Distribution Officer at Aditya Birla Sun Life Insurance. He was also one of the founding members of Max Life Insurance and worked with the company for 15 years.
Commenting on Raja's appointment, Rajesh Sud, Managing Director, Bharti Enterprises – Financial Services, “With his extensive experience in the domestic life insurance industry and demonstrated leadership across agency, bancassurance, broking and direct sales force channels, we are confident that Parag will lead Bharti AXA to greater success.”
Raja is a Post Graduate in Marketing Management from Jamnalal Bajaj Institute of Management Studies, Mumbai. He holds a Bachelor’s degree in Commerce from HR College and a Master in Commerce from Sydenham College, Mumbai.
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