Alea Group Names Ricciardelli CFO

NU Online News Service, March 23, 3:20 p.m.EST?Mark L. Ricciardelli has been named Alea GroupHoldings Ltd.'s group president and chief operating officer, thenew Bermuda-based global reinsurance and specialty insurancecompany said.[@@]

Mr. Ricciardelli was most recently president and chief executiveofficer, Global Casualty, for General Electric's EmployersReinsurance Corporation.

Dennis Purkiss, Alea Group CEO, noted Mr. Ricciardelli has over28 years of insurance-reinsurance experience, the last fifteenspent with GE, principally in its Employers Reinsurance Corp.unit.

"His substantial experience in all aspects of reinsurance andhistory of operational expertise, including his most recent workleading GE ERC's global casualty business, make him ideally suitedfor his new role as our president and COO," Mr. Purkiss said.

Mr. Ricciardelli will have responsibility for implementingstrategies that drive top and bottom line growth for Alea,according to Perry Golkin, an Alea board member and a member ofKohlberg Kravis Roberts & Co., an affiliate of which is Alea'slargest shareholder.

Alea, which had its initial public offering in November 2003,targets the casualty, alternative risk and excess & surpluslines markets.