Mark Ricciardelli is stepping down as chief executive officer of Bermuda-based insurer Alea, which is in runoff, a victim of losses sustained during last year's devastating hurricane season.
In a statement, Alea said Mr. Ricciardelli is leaving his post “to pursue other interests.” His resignation is effective Aug. 31.
Mark Cloutier will assume the positions of group president and CEO, replacing Mr. Ricciardelli.
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