<a href="https://www.mid-day.com/business/business-news/article/icici-bank-acquires-2-per-cent-stake-from-jv-partner-in-icici-prudential-life-for-rs-1470-crore-23648106" target="_blank" rel="none noopener">Private life insurer ICICI Prudential Life Insurance</a> 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 &amp; 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 &amp; 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.&nbsp;
Besides, it said Mishra has also been appointed as Chief Operating Officer (COO), with effect from October 6, 2026.
<h2>Mishra's profile</h2>
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 <a href="https://www.mid-day.com/business/business-news/article/icici-bank-net-profit-for-q1-fy27-rises-16-per-cent-to-rs-148045-crore--23640411" target="_blank" rel="none noopener">ICICI Bank</a>, 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.&nbsp;
<h2>Board notes Bagchi's contribution</h2>
The Board appreciated Bagchi's contribution to the growth and success of ICICI Group over the last three decades across a variety of roles.&nbsp;
"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, <a href="https://www.mid-day.com/business/business-news/article/hdfc-bank-appoints-anup-bagchi-as-new-md-and-ceo-after-rbis-approval-23652977" target="_blank" rel="none noopener">Bagchi has been associated with the ICICI Group since 1992</a>, and has built a diverse career spanning treasury, retail banking, wholesale banking, investment banking, and digital financial services.&nbsp;
He served as Executive Director of ICICI Bank from 2017 to 2023, overseeing retail, business and rural banking, and subsequently wholesale banking.&nbsp;
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.

He will replace Anup Bagchi, who will will take over as HDFC Bank MD & CEO with effect from October 27

ICICI Prudential Life appoints Sidharatha Mishra as new MD & CEO

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Mishra will succeed incumbent Anup Bagchi, who will take over as HDFC Bank MD & CEO with effect from October 27

ICICI Prudential Life appoints Sidharatha Mishra as Managing Director and Chief Executive Officer

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