N. S. Kannan, current MD & CEO of ICICI Pru Life, is retiring on the completion of his tenure on June 18, 2023.
He is being replaced by Anup Bagchi, an old hand with the ICICI group since 1992.
- Anup has extensive experience across domains and is currently the Executive Director of the ICICI Bank. He heads the Wholesale Banking, Transaction Banking, Markets Group and Proprietary Trading Group.
- Previously he has also served as MD & CEO of ICICI Securities.
- He has also worked extensively in the areas of retail banking, treasury, investment banking, small scale industry, payment & settlement systems.
The subject appointment is in line with what normally happens at the ICICI Group, whereby group entities are headed by experienced people from within.
Anup is a solid choice for the role and hopefully his extensive experience will come handy in an industry (life insurance) that has strong prospects but is mired with heavy regulations.