ICICI Prudential Life Insurance Company Limited announced Retirement of Mr. M S Ramachandran, as Chairman of the Board of Directors, with effect from June 30, 2024, having completed the maximum age limit of 75 years, as prescribed under the IRDAI (Remuneration of Non-Executive Directors of Insurers) Guidelines, 2023. Consequent to the retirement of Mr. M. S. Ramachandran, Mr. Sandeep Batra, who has been associated with the Company as a Non-Executive Director with effect from October 8, 2018 has now been re-designated and appointed as Chairman of the Board of Directors, with effect from June 30, 2024 or date of regulatory approval, if any, whichever is later. Mr. Sandeep Batra1 has been associated with ICICI Group since September 2000 and is an Executive Director on the Board of ICICI Bank.

He also serves on the Board of ICICI Lombard General Insurance, ICICI Prudential Asset Management and ICICI Venture as non-executive director. Mr. Batra's previous stints within the ICICI group included being an Executive Director, Chief Financial Officer of the Company and Group Compliance officer at ICICI Bank, and therefore he has a deep understanding of the business of the Company. Qualification: Chartered Accountant and Company Secretary.