ICICI Life Insurance Names Siddhartha Mishra MD & CEO As Anup Bagchi Steps Down

ICICI Life Insurance has named Siddhartha Mishra as Managing Director and CEO for a five-year term, the company informed the exchanges on Friday, October 2. The board also noted the resignation of Anup Bagchi, who is set to take over as MD and CEO of HDFC Bank.

Mishra has been appointed as the Additional Director and MD & CEO, with effect from October 14, 2026, or date of approval of the Insurance Regulatory and Development Authority of India, whichever is later, it said.

With over 26 years of experience in the banking sector, Mishra presently heads the digital channels & partnerships, voice channel, customer service, NRI & IFIG groups of ICICI Bank Limited. He holds a bachelor's degree in science and a postgraduate diploma in management with a specialization in finance from Utkal University, Bhubaneswar.

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Anup Bagchi Resigns

In a letter dated October 1, Anup Bagchi informed regarding his decision to resign as the MD and CEO of ICICI Life Insurance. The letter read, "I, do and hereby, tender my resignation as Managing Director and CEO of ICICI Life Insurance Limited (the Company), with effect from close of business hours on October 13, 2026, as I wish to pursue a new career opportunity outside the organization."

HDFC Bank named Anup Bagchi as its Managing Director and Chief Executive Officer (MD & CEO) for a three-year term, following approval from the Reserve Bank of India (RBI), the lender informed the exchanges on Thursday, October 1. Through its communication dated October 1, 2026, RBI approved Bagchi's appointment as MD & CEO of HDFC Bank and the remuneration payable to him. His three-year term will commence from Oct. 27, 2026.

The bank's Board of Directors, at its meeting on October 1, approved Bagchi's appointment as an Additional Director with effect from October 2, 2026. The appointment will continue until shareholder approval, in accordance with the Companies Act, 2013.

Associated with the ICICI Group since 1992, Bagchi has held leadership positions across treasury, retail banking, wholesale banking, investment banking and digital financial services. He has previously served as CEO and MD of ICICI Securities and as Executive Director of ICICI Bank.

Since June 2023, Bagchi has served as MD & CEO of ICICI Prudential Life Insurance.

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