Max Life Insurance Company Ltd. has appointed Ranbheer Singh Dhariwal as the chief executive officer (CEO) of its wholly owned subsidiary, Max Life Pension Fund Management Limited (Max Life PFM) effective October 15, 2022. In this role, Dhariwal will be responsible for managing and expanding Max Life PFM and will lead end-to-end business operations.
“The establishment of the pension fund management arm is a critical lever in Max Life’s growth strategy in the retirement space, and we now have Dhariwal to help us forge ahead in this journey. He brings a wealth of industry experience in developing and scaling businesses with a strong client-centric mindset,” Prashant Tripathy, managing director (MD) and chief executive officer (CEO), Max Life and chairman, Max Life PFM said.
Prior to joining Max Life PFM, Dhariwal was associated with HDFC Life Insurance Company Ltd. as senior vice president (SVP) and head, retirement horizontal, NPS Annuity and Government Funds. He has extensive experience of over two decades across setting up and leading retirement business and leading operations across health, online or e-commerce, digital marketing and direct marketing channels.
“The entity expands Max Life’s retirement 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,” Dhariwal stated.
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 assets under management (AUM) to Rs ~1L crore 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, an official statement read.
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