Bhubaneswar: Utkal University alumnus Siddhartha Mishra is set to take charge of ICICI Prudential Life Insurance as its new Managing Director and Chief Executive Officer, succeeding Anup Bagchi, who is leaving the insurer for a new assignment at HDFC Bank.
Mishra has been associated with ICICI Bank for over 26 years. He currently leads the private lender’s digital channels and partnerships, voice channel, customer services, and non-resident Indian and international financial institutions groups.
The company said its board has approved Mishra’s appointment as Chief Operating Officer with effect from October 6, 2026. He will assume charge as Additional Director and MD & CEO from October 14, 2026, or after receiving approval from the Insurance Regulatory and Development Authority of India, whichever is later.
His appointment will be for five consecutive years, subject to the requisite regulatory and shareholder approvals, as reported by Moneycontrol.
Mishra holds a Bachelor of Science degree and a post-graduate diploma in management, with specialisation in finance, from Utkal University, Bhubaneswar.
Bagchi Steps Down
Bagchi will relinquish charge as MD & CEO of ICICI Prudential Life at the close of business hours on October 13, 2026, as reported by The EConomic Times.
In his resignation letter dated October 1, Bagchi said he was quitting to pursue a “new career opportunity outside the organization”.
“I remain committed to supporting the transition in every possible way and ensuring that all responsibilities are handed over smoothly,” he said in the letter addressed to the board of directors.
Bagchi also thanked the board, the wider ICICI Group, the management team and stakeholders for the journey and the trust placed in him over the years.
Board Acknowledges Contribution
The board, in its filing, appreciated Bagchi’s contribution to the growth and success of the ICICI Group over nearly three decades across various roles. It said that during his tenure at ICICI Prudential Life, he helped the company emerge as a “resilient franchise”.
After his exit, Bagchi will also cease to be a key managerial personnel for determining the materiality of events and making disclosures to stock exchanges under Regulation 30(5) of the SEBI Listing Regulations.