ICICI Prudential Life Appoints Sandeep Batra as Chairman

The ICICI Prudential Life Insurance Company announced the redesignation and appointment of Sandeep Batra as Chairman of the Board of Directors, with effect from June 30, 2024.

Batra is an Executive Director on the Board of ICICI Bank. He is a Chartered Accountant and Company Secretary and has been associated with the ICICI Group since September 2000.

He also serves on the Boards of ICICI Lombard General Insurance, ICICI Prudential Asset Management, and ICICI Venture as a Non-Executive Director. His previous stints within the ICICI group included being an Executive Director, Chief Financial Officer of the company, and group compliance officer at ICICI Bank.

M. S. Ramachandran, having already completed the maximum age limit of 75 years as prescribed under the IRDAI Guidelines as of June 30, 2023, shall accordingly retire as a Non-executive Independent Director and Chairman of ICICI Prudential Life Insurance Company Limited with effect from June 30, 2024.

The Insurance Regulatory and Development Authority of India (IRDAI) released Remuneration of Non-Executive Directors of Insurers Guidelines, 2023 (Guidelines), effective June 30, 2023, that insurance companies wherein the Chairperson, Non-Executive Director, has already attained the age of 75 years as on the date of issue of June 30, 2023, shall appoint a replacement within one year.