White Mountains Insurance Group, Ltd. in Bermuda announced that Steven E. Fass has been elected president and chief executive officer, effective immediately.
Mr. Fass remains on the board as a director. He replaces Ray Barrette, who has decided to retire as CEO and leave as a board member as well.
White Mountains said Mr. Barrette would work with Mr. Fass and White Mountains management to ensure a smooth transition.
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