ICICI Prudential Life Insurance Company Limited has informed the Exchange about Retirement of Mr. Dilip Karnik
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Mr. Dilip Karnik (DIN: 06419513) has retired as a non-executive Independent Director of ICICI Prudential Life Insurance Company with effect from the close of business hours on May 9, 2025. He was originally appointed in June 2016 and re-appointed for a second term ending June 28, 2026. His retirement is due to IRDAI's Master Circular on Corporate Governance for Insurers, 2024, which caps the maximum age for non-executive directors at 75 years. The Board recorded its appreciation for his contribution during his tenure.
This is a routine, regulatory-driven retirement and is unlikely to have any material impact on the company's operations or stock price. The board will likely fill the vacancy in due course as per regulatory norms.