LONDON, July 14, 2004 (PRIMEZONE) -- Alea Group Holdings (Bermuda) Ltd. ("Alea", or "the Group"), the global reinsurance and specialty insurance company, announced today that it has named Kirk H. Lusk as Group Senior Vice President, Strategic Planning and Corporate Development.
"We are delighted to welcome Kirk to Alea," said Mark Ricciardelli, President and Chief Executive Officer of Alea Group. "Kirk has over 20 years of experience in the insurance industry, with significant expertise in underwriting, operations and strategic business analysis."
"In his new role, Mr. Lusk will have responsibility for leading the strategic planning process for all Alea operating companies," added Mr. Ricciardelli. "Kirk will also have responsibility for aligning corporate risk, finance and capital management strategies with key financial targets and capital allocation goals for the Group."
Mr. Lusk joins Alea after holding several leadership positions at General Electric, most recently at General Electric's Employers Reinsurance Corporation (GE ERC), where he developed and implemented a global business strategy to optimise the company's portfolio performance and returns. Prior to his role at GE ERC, Mr. Lusk served as Chief Financial Officer of GE Capital's Auto Warranty Services Division in Denver, Colorado.
Mr. Lusk began his career with Travelers in 1983. From 1983 to 1998, Mr. Lusk held positions of increasing leadership and responsibility, and ultimately served as Regional Controller for Travelers out of their Denver, Colorado office.
Mr. Lusk will be based in Alea Group's office in Rocky Hill, Connecticut, and will report directly to Mr. Ricciardelli. He holds a B.A. in Economics from The Colorado College, and an M.B.A. from University of Connecticut, Storrs.
ABOUT ALEA GROUP
Alea is a global reinsurance and specialty insurance company with expertise in a wide range of property and casualty reinsurance, insurance, alternative risk and finite risk products and services. Alea maintains a significant presence in major insurance and reinsurance markets worldwide. Alea is headquartered in Hamilton, Bermuda and has ongoing operations in the United Kingdom, the United States, Bermuda, Switzerland, Australia and Jersey. The Company's largest shareholder is an affiliate of Kohlberg Kravis Roberts & Co. Alea is publicly traded on the London Stock Exchange under the ticker "ALEA". For more information on Alea, see www.aleagroup.com.
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