Max New York Life Insurance announced various changes in the organizational structure as part of its aggressive growth strategy targeting six-fold growth by 2011. Max New York Life Insurance aims to grow its offices and employee strength three-fold ¾ setting up 650 offices and increasing staff strength to 24,000 ¾ in three years. It also plans to expand its network of agent-advisors almost five-fold, enlisting about 200,000 agents by 2011. It is looking at a total capital infusion of Rs. 2650 crore by 2011, more than doubling its existing total paid-up capital of Rs.1032 (as on March 31, 2008) and looking at increasing the First Year Premium (FYP) at least four-fold in the next 3-4 years.

The key new appointments are those of Rajesh Sud as Deputy Managing Director and of Rajit Mehta as Deputy Chief Operating Officer, both assisting CEO and Managing Director Gary Bennett. In addition, Max New York Life has promoted several more senior executives, creating focused vertical responsibilities to boost targeted growth strategies.

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