Date: October 2, 2026

KMP / Board / Auditor Changes

Resignation:

  • Mr. Anup Bagchi (DIN: 00105962) resigned as Managing Director & CEO of ICICI Life Insurance Limited
  • Effective from close of business hours on October 13, 2026
  • Reason for resignation: To pursue a new career opportunity outside the organization
  • Mr. Bagchi expressed commitment to supporting transition and ensuring smooth handover of responsibilities

Appointments:

  • Mr. Sidharatha Mishra (DIN: 06524169) appointed as Chief Operating Officer with effect from October 6, 2026
  • Mr. Sidharatha Mishra appointed as Additional Director and Managing Director & CEO with effect from October 14, 2026, or date of approval of the Insurance Regulatory and Development Authority of India, whichever is later
  • Term of MD & CEO appointment: Five consecutive years
  • Appointment subject to requisite approvals

Background of New Appointee:

  • Mr. Sidharatha Mishra holds a bachelor's degree in science and a postgraduate diploma in management with specialization in finance from Utkal University, Bhubaneswar
  • Has over 26 years of experience in the banking sector
  • Presently heads the digital channels & partnerships, voice channel, customer service, NRI & IFIG groups of ICICI Bank Limited
  • Will be transferred from ICICI Bank Limited to ICICI Life and relieved from responsibilities at the Bank from close of business hours of October 5, 2026

Relationships:

  • None of the Directors are inter-se related to Mr. Sidharatha Mishra

Board Meeting Outcomes

  • Board meeting held on October 2, 2026
  • Meeting commenced at 1:45 p.m. and concluded at 2:15 p.m.
  • Board noted resignation of Mr. Anup Bagchi as Managing Director and Chief Executive Officer
  • Board placed on record appreciation of Mr. Bagchi's contribution to ICICI Group over three decades across various roles
  • Board acknowledged Mr. Bagchi successfully steering ICICI Life to emerge as a resilient franchise during his tenure
  • Board approved appointment of Mr. Sidharatha Mishra as Chief Operating Officer and as Additional Director and Managing Director & CEO