Axis Bank nominates T.C. Suseel Kumar for election to its Board as Non-Executive Director

– INDIA, Mumbai – Axis Bank Limited (LON: AXB) today announced the nomination of Shri T.C. Suseel Kumar, Managing Director – Life Insurance Corporation of India, Promoter of the Bank, as an additional Non-Executive Director of the Bank, with effect from 1st July 2020 and subject to the approval of the Shareholders at the 26th Annual General Meeting of the Bank

About T.C. Suseel Kumar

Shri T.C. Suseel Kumar is Managing Director of Life Insurance Corporation of India since March 2019. He has a Masters in Economics, is a university rank holder and has completed various management and leadership courses, including from IIM Ahmedabad, IIM Bangalore, IIM Lucknow, ISB Hyderabad and Asian Institute of Management, Manila.

During his illustrious career of more than 35 years, he has successfully managed multiple crucial portfolios in LIC and left behind highly significant footprints across the organization. As a Managing Director, he manages key portfolios of LIC, including Marketing/Product Development, Investment, Corporate Planning/New Projects, Audit and Subsidiaries viz. IDBI Bank Limited, LIC Pension Fund Limited, LIC HFL AMC Limited – to name a few.

After Shri Suseel Kumar took over as Managing Director, LIC saw a striking growth of 25% in first-year premium collections and an increase in market share by 2.50% to 69%, reflecting his strong leadership abilities. He has also been instrumental in redefining the business proposition of LIC that earned LIC the ‘Best Life Insurer Award’ by many leading agencies during this year.

He has been influential in guiding, planning and executing growth strategies, while being on the Boards of LIC Mutual Fund Trustee Private Limited, LIC HFL Asset Management Company Limited, LIC Pension Fund Limited, Life Insurance Corporation (Lanka) Limited, National Insurance Academy and Insurance Institute of India. His expertise lies in the areas of strategic planning, marketing, customer centricity and talent management.

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