ICICI Life Names Sidharatha Mishra Next CEO; October 14 Start Depends on Approval

ICICI Life Insurance Limited, formerly ICICI Prudential Life Insurance Company Limited, has chosen ICICI Bank executive Sidharatha Mishra to succeed Anup Bagchi as managing director and CEO. The insurer’s board approved the transition on October 2, setting Mishra’s CEO start for October 14 or the date of insurance-regulator approval, whichever is later. He is scheduled to become chief operating officer on October 6, according to the exchange disclosure.

For the insurer’s policyholders and distribution partners, the timetable establishes who leads ICICI Life during the handover. Bagchi remains managing director and CEO until his resignation takes effect at the close of business on October 13. Mishra’s proposed five-year CEO term is subject to the required approvals.

Mishra’s route from the bank

ICICI Bank plans to relieve Mishra of his bank responsibilities at the close of business on October 5. The insurer’s disclosure says his work there spans digital channels and partnerships, the voice channel, customer service, and the NRI and IFIG groups. It credits him with more than 26 years of banking experience. His partnership and customer-service responsibilities are especially relevant to readers following the insurer’s distribution leadership.

Bagchi’s move to HDFC Bank follows a separate timetable. HDFC Bank’s October 1 filing says he became an additional director effective October 2. It sets a three-year managing director and CEO term beginning October 27, following Reserve Bank of India approval and subject to shareholder approval.

The next scheduled step at ICICI Life is Mishra’s October 6 COO appointment. His move into the CEO role follows on October 14 only if regulatory approval is in place by then.