In his new role, Agarwal will be responsible for leading the firm’s life insurance business, including its business management & operations, product life cycle management, product design & manufacturing and distribution management areas, to expand upon its product portfolio and distribution platform.

Most recently, Agarwal has led business development and strategy for AXA Equitable, with responsibility for the strategic initiatives group, field compensation, risk management and associate hiring and contract administration.

Agarwal joined AXA Equitable in 2005 as vice president of the newly-formed Strategic Initiatives Group. Before joining AXA Equitable, he served as an engagement manager with McKinsey & Co., where he led client teams in projects across marketing, strategy, corporate finance and operations, primarily within life and property casualty insurance companies.

AXA Equitable president, Andrew McMahon, said: "Life insurance has been core to our business and part of our growth story for 154 years. Together with business teams and distributor networks, Agarwal will build a broad, diversified product portfolio that meets and anticipates the needs of our clients and partners.

"His expertise in building new and existing relationships will help our company reach more customers reflective of the societal trends in the attractive US market, generating meaningful, sustainable growth," McMahon added.

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