Anup Bagchi, MD & CEO, ICICI Prudential Life
Since June 2023, Bagchi has been serving as MD & CEO of ICICI Prudential Life Insurance leading one of India’s largest private life insurers, which is publicly listed.
Mumbai:Anup Bagchi, MD & CEO, ICICI Prudential Life has been appointed as the new MD & CEO of HDFC Bank, the second largest coomercial bank in the country.
Bagchi will be joining the bank on Tuesday and will take over as the MD &CEO of the bank on Oct 27 with a three-year tenure succeeding Sashidhar Jagdishan, who informed the board in August that he would not seek reappointment when his term ends on October 26.
Bagchi’s name as the new MD&CEO of the bank has been approved by the Reserve Bank of India and insurance regulator IRDAI.
ICICI Bank, the largest share holder of ICICI Prudential Life, will soon appoint a new CEO for its life insurance subsidiary.
Historically, the life insurer gets its CEO from ICICI Bank.
Since June 2023, Bagchi has been serving as MD & CEO of ICICI Prudential Life Insurance leading one of India’s largest private life insurers, which is publicly listed.
Under Bagchi’s leadership, the company crossed Rs 10,000 crore in annualised premium equivalent (APE) for the first time in FY2025, with APE growing 15% year-on-year to Rs. 10,407 crore and profit after tax increasing nearly 40% to Rs. 1,189 crore.
The business has also delivered strong growth in protection products and new business generation, reflecting his focus on sustainable and profitable expansion.