Alea Group Names Ricciardelli CFO
NU Online News Service, March 23, 3:20 p.m. EST?Mark L. Ricciardelli has been named Alea Group Holdings Ltd.'s group president and chief operating officer, the new Bermuda-based global reinsurance and specialty insurance company said.[@@]
Mr. Ricciardelli was most recently president and chief executive officer, Global Casualty, for General Electric's Employers Reinsurance Corporation.
Dennis Purkiss, Alea Group CEO, noted Mr. Ricciardelli has over 28 years of insurance-reinsurance experience, the last fifteen spent with GE, principally in its Employers Reinsurance Corp. unit.
"His substantial experience in all aspects of reinsurance and history of operational expertise, including his most recent work leading GE ERC's global casualty business, make him ideally suited for his new role as our president and COO," Mr. Purkiss said.
Mr. Ricciardelli will have responsibility for implementing strategies that drive top and bottom line growth for Alea, according to Perry Golkin, an Alea board member and a member of Kohlberg Kravis Roberts & Co., an affiliate of which is Alea's largest shareholder.
Alea, which had its initial public offering in November 2003, targets the casualty, alternative risk and excess & surplus lines markets.
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