Mr. Ranbheer Singh Dhariwal appointed as the CEO of Max Life Pension Fund Management Ltd.

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Bengaluru, October 19, 2022: Max Life Insurance Company Ltd. (“Max Life” / “Company”), has announced the appointment of Mr. Ranbheer Singh Dhariwal as the Chief Executive Officer (“CEO”) of its wholly owned subsidiary, Max Life Pension Fund Management Limited (“Max Life PFM”) effectiveOctober15th, 2022. In this role, Mr. Ranbheer will be responsible for managing and expanding Max Life PFM and will lead end-to-end business operations.

Prior to joining Max Life PFM, Mr. Ranbheer was associated with HDFC Life InsuranceCompany Ltd. as SVP & Head – Retirement Horizontal, NPS Annuity & Government Funds. He has extensive experience of over two decades across setting up and leading retirement business and leading operations across health, online/e-commerce, digital marketing and direct marketing channels.

Commenting on the appointment, Mr.Prashant Tripathy, MD & CEO, Max Life and Chairman, Max Life FM said, “The establishment of the pension fund management arm is a critical lever in Max Life’s growth strategy in the retirement space, and we’re delighted to find a highly accomplished leader in Ranbheer to help us forge ahead in this journey. Ranbheer brings a wealth of industry experience in developing and scaling businesses with a strong client-centric mindset, and I wish him the very best in this role.”

Mr. Ranbheer Singh Dhariwal, CEO, Max Life PFM added, “I’m delighted to join as the CEO of Max Life PFM at a truly transformative period in the Company’s growth journey. The entity expands Max Life’sretirement presence, underpinning the commitment to provide financial security to Indians in their golden years. Together with Max Life, we are confident of unlocking meaningful value for all our stakeholders in the long term.”

Max Life announced the receipt of the Commencement of Business (COB) Certificate for Max Life PFM on August 23, 2022. The subsidiary will manage the pension assets with investment choices under the National Pension Scheme for private sector subscribers and government sector subscribers, excluding the “default scheme”, with the aim to scale AUM to INR ~1L Cr over the next ten years.With this development, the Company and Max Life PFM will now under the retirement ecosystem,offer products such as pension products, annuities and pension fund management, to assist customers in planning their retirement.

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