ICICI Life CEO Anup Bagchi will step down as Managing Director and Chief Executive Officer at the close of business on October 13, 2026, according to the insurer’s October 2 BSE filing. The board also approved Sidharatha Mishra’s appointment as his successor, subject to requisite approvals.

The filing identifies the insurer as ICICI Life Insurance Limited, formerly known as ICICI Prudential Life Insurance Company Limited. Its equity identifiers are BSE scrip code 540133 and NSE symbol ICICIPRULI.

In his resignation letter dated October 1, Bagchi said he wished to pursue a new career opportunity outside the organisation. He also said he would support the transition and ensure a smooth handover of responsibilities.

The board acknowledged Bagchi’s contribution across various roles within ICICI Group over the past three decades. It said he had steered the insurer towards becoming a resilient franchise during his tenure.

Mishra’s appointment timetable

Acting on the recommendation of its Board Nomination and Remuneration Committee, the board approved two appointments for Sidharatha Mishra:

  • Chief Operating Officer, effective October 6, 2026.
  • Additional Director and Managing Director & CEO for five consecutive years, effective October 14, 2026, or the date of approval from the Insurance Regulatory and Development Authority of India, whichever is later, subject to requisite approvals.

The leadership appointment therefore remains subject to regulatory and other requisite approvals; October 14 is the earliest effective date specified in the filing.

The insurer also disclosed that, consequent to his resignation, Bagchi would cease to be key managerial personnel authorised to determine the materiality of events or information and make stock exchange disclosures under Regulation 30(5).

Banking experience and current responsibilities

Mishra has over 26 years of banking experience. He currently heads ICICI Bank’s digital channels and partnerships, voice channel, customer service, NRI and IFIG groups.

He holds a bachelor’s degree in science and a postgraduate diploma in management specialising in finance from Utkal University, Bhubaneswar.

The insurer said none of its directors are related to Mishra and that he is not debarred from holding a director’s office by SEBI or any other such authority.