Mark L. Ricciardelli named CEO and Executive Director of AleaAlea Group | News Release
...Mark L. Ricciardelli named CEO and Executive Director of Alea
...BERMUDA (25 JUNE, 2004) - Alea Group Holdings (Bermuda) Ltd. ("Alea" or "the Group"), the global reinsurance and specialty insurance company, today announced the promotion of Mark L. Ricciardelli from Group President and Chief Operating Officer to Group President and Chief Executive Officer with immediate effect.Mr. Ricciardelli has also been appointed an Executive Director of Alea.
Dennis and the Board had been discussing plans for succession for some time and Mark
was appointed with that possibility in mind.
...Mr. Ricciardelli has 28 years' experience within the reinsurance industry, having spent the last 15 years at GE, where he was most recently President and CEO, Global Casualty, of General Electric's Employers Reinsurance Corporation.
brings with him a wealth of experience that will benefit the Group enormously as it moves into the next phase of its development."
said: "Dennis has built Alea
into what it is today - a strong, diversified global insurer and reinsurer with a focused strategy and strong operating results.
...Mark L. Ricciardelli: +44 20 7621 3233
...ABOUT MARK L. RICCIARDELLIMr. Ricciardelli joined Alea in March 2004, after serving as President and Chief Executive Officer, Global Casualty, of General Electric's Employers Reinsurance Corporation (GE ERC).Mr. Ricciardelli
, in his
most recent position for GE ERC
, designed and built the organisational structure of the Global Casualty
established a new leadership team and the global product strategy for casualty for all ERC group companies.Mr. Ricciardelli's
initiatives have resulted in significantly reduced portfolio volatility and dramatically improved portfolio transparency and financial performance. From 2001 through 2002, Mr. Ricciardelli was Senior Vice President - Facultative P&C Reinsurance North America at ERC, where he led the restructuring of underwriting and marketing for this operation.From 1997 through 2001, he was President and Chief Executive of ERC Asia Pacific Pte Ltd, based in Singapore.Mr. Ricciardelli
was responsible for the Life, Non Life and Business Development activities in the Asia Pacific Region.Prior to this, he served for a year as Senior Vice President with GE Capital's Equity Capital Group in Stamford.He began his tenure at GE as manager of the GE ERC New York Branch from 1989 through 1995. Mr. Ricciardelli started his career in insurance with Travelers Insurance Company in 1976.In 1978, he moved to the Swiss Re-North American Re group of companies where, over eleven years, he held positions of increasing underwriting and leadership responsibility and ultimately served as Vice President, Director of Marketing and a member of the Executive Committee for Western Atlantic Re.