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NEW DELHI: Analjit Singh, sponsor and founder shareholders of the $3-billion Max Group, is set be appointed as non-executive chairman of Max Life Insurance Company, the flagship life insurance entity of the group and Max the listed holding company that houses healthcare, health insurance and senior living businesses of the group, two people familiar with the development told ET.
“The move is aimed at sending a strong message to domestic and overseas investors that as sponsors Analjit Singh remains committed to these entities and will continue to engage with all the stakeholders of these companies on a proactive basis,” one of the persons quoted above said.
Rahul Khosla, the current chairman of Max Life and Max India and president of the group, is expected to retire by March-end after completing his current term, sources said. An announcement to this effect is expected shortly.