Max Financial Services Limited (MFSL) has announced changes to the Board of Directors of its material subsidiary, Axis Max Life Insurance Limited. Mr. Mitsuru Yasuda has resigned as a Non-executive Director from the Board of Axis Max Life, with his resignation effective from the close of business hours on May 6, 2026. In his place, the Board of Directors of Axis Max Life has approved the appointment of Mr. Toru Nakabayashi as an Additional Director in a Non-executive capacity. This appointment is effective from May 7, 2026, and he will hold the office until the date of the next Annual General Meeting of Axis Max Life. Mr. Nakabayashi's appointment is to be regularized by the shareholders at the upcoming AGM. He has been nominated by Max Financial Services Limited to act as its representative on the Board, as identified by Mitsui Sumitomo Insurance Company Ltd., in accordance with existing agreements and the company's Articles of Association. Mr. Toru Nakabayashi brings over 20 years of experience in the insurance sector across Japan, Indonesia, and Malaysia. His expertise spans life and health insurance, corporate governance, risk management, and strategic business development. He currently serves as Head of Japan Desk & Strategic Business Development at Hong Leong Assurance Berhad, Malaysia, and has held senior leadership roles within the Mitsui Sumitomo Insurance Group.
