Anand Desai named Chief Risk Officer; Manish Bhandari appointed Chief Compliance Officer as part of organizational restructuring
ICICI Prudential Life Insurance has announced senior leadership realignments within its risk and compliance departments in line with IRDAI’s Corporate Governance norms.
Deepak Kinger, currently Chief Risk & Governance Officer, will transition to a new role within the ICICI Group. His resignation from the company will be effective at the close of business on December 7, 2025.
As part of the restructuring, Anand Desai — who took charge as Chief Compliance Officer on July 24, 2024 — will now assume the role of Chief Risk Officer effective December 8, 2025. Desai is a Chartered Accountant with two decades of experience in financial controls, accounting, and investment operations across the financial sector.
Manish Bhandari has been appointed Chief Compliance Officer for a three-year term starting December 8, 2025. Bhandari holds a postgraduate diploma from SIBM Pune and a master’s degree in finance and control from Punjab University. With 27 years of experience across ICICI Bank in retail banking, branch operations, business development, and compliance, he will take on responsibility for strengthening the company’s regulatory governance frameworks.
Both Desai and Bhandari will serve as Key Managerial Personnel under IRDAI regulations, and they will be classified as Senior Management personnel under the Companies Act, 2013 and SEBI Listing Regulations.
