ICICI Life Insurance Appoints Sidharatha Mishra as CEO

ICICI Life Insurance has appointed Sidharatha Mishra as its new Managing Director and Chief Executive Officer for a five-year term. The leadership change follows the resignation of former CEO Anup Bagchi, who left to take the top role at HDFC Bank.

Sidharatha Mishra will take charge effective October 14, 2026, subject to regulatory approvals from the Insurance Regulatory and Development Authority of India. He will first step into the role of Chief Operating Officer on October 6. Anup Bagchi's resignation was effective at the close of business on October 13, 2026, after leading the insurer for over three years. Bagchi's departure was triggered by his appointment as MD & CEO of HDFC Bank, the country's largest private lender, which was announced a day prior.

Mishra's Background and Experience

Sidharatha Mishra brings over 26 years of banking experience, all within the ICICI Group. He currently heads ICICI Bank's digital channels and partnerships, voice channel, customer services, and non-resident Indian and international financial institutions groups. His career has spanned branch banking, regional and zonal retail businesses, and digital operations. Mishra holds a bachelor’s degree in science and a postgraduate diploma in management with a specialization in finance from Utkal University in Bhubaneswar.

Strategic Continuity Within the ICICI Group

The appointment continues a long-standing tradition of an ICICI Bank veteran leading the life insurance subsidiary. Mishra's internal promotion reinforces strategic continuity within the group. ICICI Prudential Life Insurance is a subsidiary of the broader ICICI Group.

A History of Leadership Transitions

The insurer has seen a series of banking executives at its helm. Shikha Sharma led the company from 2000 to 2009, followed by V. Vaidyanathan for a year until May 2010. Sandeep Bakhshi took over in August 2010 and remained until June 2018, overseeing the company's listing before moving to ICICI Bank as MD & CEO. N S Kannan then led from 2018 until his retirement in 2023, after which Anup Bagchi assumed the role. Bagchi had been associated with the ICICI Group since 1992 and is an alumnus of IIT Kanpur and IIM Bangalore.

The board approved Mishra's appointment during a meeting that commenced at 1:45 p.m. and concluded at 2:15 p.m. on October 2, 2026. His official tenure as Additional Director and Managing Director & CEO will last for five consecutive years, pending final regulatory sign-off.