ICICI Life Insurance Limited, the life-insurance arm formerly known as ICICI Prudential Life Insurance Company Limited, has announced a planned leadership transition. The board noted the resignation of Anup Bagchi as Managing Director and Chief Executive Officer, with effect from close of business on October 13, 2026, as it charts a path to sustain the company’s growth momentum. The move comes after the Board Nomination and Remuneration Committee (BNRC) considered the succession plan in place and the company’s broader governance framework.
In a coupled set of appointments, Sidharatha Mishra has been appointed Chief Operating Officer with effect from October 6, 2026. Subsequently, Mishra has been appointed as Additional Director and Managing Director & CEO with effect from October 14, 2026, or the date of approval by the Insurance Regulatory and Development Authority of India, whichever is later, for a five-year period, subject to requisite approvals. Mishra is currently a senior executive at ICICI Bank Limited, where he heads digital channels and partnerships, voice channel, customer service, and related groups.
Bagchi’s tenure at the ICICI Group has spanned three decades across a variety of roles, and the board has placed on record its appreciation for his contributions to the growth and resilience of the ICICI franchise. Mishra’s track record in digital and customer-focused initiatives at ICICI Bank is positioned to support ICICI Life’s ongoing strategy, signaling a leadership transition designed to maintain momentum while aligning executive depth with the company’s long-term objectives. The leadership change underscores a deliberate plan to balance continuity with fresh strategic oversight as the company navigates an evolving market landscape.