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What is the story about?
ICICI Prudential Life Insurance has appointed Siddhartha Mishra as its next Managing Director and Chief Executive Officer for a five-year term, marking a leadership transition at the insurer as current MD & CEO Anup Bagchi heads to HDFC Bank.
Mishra will take charge as Chief Operating Officer from October 6, 2026, before assuming the MD & CEO position from October 14, or the date on which the appointment receives approval from the Insurance Regulatory and Development Authority of India (IRDAI), whichever is later, the company said in a regulatory filing.
He has also been appointed as an Additional Director on the company's board.
Mishra currently heads Digital Channels & Partnerships, NRI and IFIG businesses at ICICI Bank. His experience spans digital distribution, strategic partnerships and customer-facing businesses, areas that have become increasingly important for insurers seeking to expand distribution and improve customer engagement.
The appointment comes in line with an earlier CNBC-TV18 report that ICICI Prudential Life was considering an internal candidate from the wider ICICI Group for the top job.
Bagchi will step down as MD & CEO on October 13, completing the transition before moving to HDFC Bank. His tenure at ICICI Prudential Life has coincided with a period of expansion for the insurer as the life insurance industry navigated significant regulatory changes and evolving distribution models.
Mishra is a finance professional with more than two decades of experience. He holds a bachelor's degree in science and a postgraduate diploma in management, specialising in finance, from Utkal University in Bhubaneswar.
His appointment remains subject to the necessary regulatory and other approvals.
Mishra will take charge as Chief Operating Officer from October 6, 2026, before assuming the MD & CEO position from October 14, or the date on which the appointment receives approval from the Insurance Regulatory and Development Authority of India (IRDAI), whichever is later, the company said in a regulatory filing.
He has also been appointed as an Additional Director on the company's board.
Mishra currently heads Digital Channels & Partnerships, NRI and IFIG businesses at ICICI Bank. His experience spans digital distribution, strategic partnerships and customer-facing businesses, areas that have become increasingly important for insurers seeking to expand distribution and improve customer engagement.
The appointment comes in line with an earlier CNBC-TV18 report that ICICI Prudential Life was considering an internal candidate from the wider ICICI Group for the top job.
Bagchi will step down as MD & CEO on October 13, completing the transition before moving to HDFC Bank. His tenure at ICICI Prudential Life has coincided with a period of expansion for the insurer as the life insurance industry navigated significant regulatory changes and evolving distribution models.
Mishra is a finance professional with more than two decades of experience. He holds a bachelor's degree in science and a postgraduate diploma in management, specialising in finance, from Utkal University in Bhubaneswar.
His appointment remains subject to the necessary regulatory and other approvals.
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