ICICI Prudential Life Insurance Company Limited announced appointment of Anup Bagchi as managing director and chief executive officer (MD & CEO) of the company. Anup Bagchi is presently the executive director of ICICI Bank, and non-executive director of the company. ICICI Prudential said that the appointment is for a period of five consecutive years with effect from 19 June, 2023 or the date of regulatory approval(s), whichever is later.

It further added that to ensure a seamless transition of Bagchi's appointment as the Executive Director & Chief Operating Officer of the company, with effect from 1 May, 2023, subject to regulatory approval(s). Anup Bagchi will replace N.S. Kannan as MD and CEO of the company. He will superannuate from services of ICICI Pru on completion of his tenure of appointment on 18 June, 2023.