03 October,2026 01:35 PM IST | Mumbai | mid-day online correspondent
ICICI Prudential Life Insurance. Image sourced from X.
Private life insurer ICICI Prudential Life Insurance on Friday said it has appointed Sidharatha Mishra as the Managing Director (MD) and Chief Executive Officer (CEO) with effect from October 14, for a term of five years.
Mishra will succeed incumbent Anup Bagchi, who will take over as HDFC Bank MD & CEO with effect from October 27.
ICICI Prudential Life Insurance in a regulatory filing said its Board of Directors noted the resignation of Anup Bagchi as Managing Director and Chief Executive Officer, with effect from close of business hours on Tuesday, October 13, 2026.
"Mishra has been appointed as the Additional Director and Managing Director & CEO, with effect from October 14, 2026, or date of approval of the Insurance Regulatory and Development Authority of
India, whichever is later for a period of five consecutive years, subject to requisite approvals," it said.
Besides, it said Mishra has also been appointed as Chief Operating Officer (COO), with effect from October 6, 2026.
Mishra has over 26 years of experience in the banking sector and presently heads the digital channels and partnerships, voice channel, customer service, non-resident Indian (NRI) and international financial institutions groups (IFIG) of ICICI Bank, it said.
He holds a bachelor's degree in science and a postgraduate diploma in management with a specialisation in finance from Utkal University, Bhubaneswar.
The Board appreciated Bagchi's contribution to the growth and success of ICICI Group over the last three decades across a variety of roles.
"During his tenure at ICICI Life, Bagchi has successfully steered the company to emerge as a resilient franchise," it said.
An alumnus of IIM-Bangalore and IIT-Kanpur, Bagchi has been associated with the ICICI Group since 1992, and has built a diverse career spanning treasury, retail banking, wholesale banking, investment banking, and digital financial services.
He served as Executive Director of ICICI Bank from 2017 to 2023, overseeing retail, business and rural banking, and subsequently wholesale banking.
He was also the Chairman of ICICI Prudential Asset Management Company until May 2023 and was a Director of ICICI Prudential Pension Funds Management Company and ICICI Home Finance.
