Middlesea Group has announced that following a restructuring exercise, a number of changes in the senior echelon of management have become effective.
Mario C. Grech, previously chairman and CEO, has been appointed executive chairman of Middlesea Insurance plc, and chairman of the group’s executive committee. As executive chairman he has assumed a more strategic and focused role through the group executive committee, concentrating on business development, reinsurance, finance, investments and overall coordination. Mr Grech shall continue to be responsible for Middlesea Insurance plc, where he will be assisted by Joseph M. Rizzo, chief operations officer.
Mr Rizzo has been with the company since 1982 and until recently occupied the post of general manager. He is a director of Growth Investments Ltd, Euroglobe Holdings Ltd, International Insurance Management Services Ltd and chairman of MSB Valletta Company. Mr Rizzo also serves as a member of the executive board of the Malta International Training Centre and is also a council member of the Malta Insurance Association.
Stephen Gauci has been appointed chief executive officer of Progress Assicurazioni SpA. Mr Gauci has been with the Middlesea Group since 1983, other than for a period of six months in 1988. He has held a number of key senior executive positions in the group, the most recent being that of general manager of Progress Assicurazioni SpA. He is also a director of International Insurance Management Services Ltd.
David G. Curmi has been appointed chief executive officer of Middlesea Valletta Life Assurance Co. Ltd (MSV). Mr Curmi started his career in the insurance industry 28 years ago during which time he has held various senior executive positions with a number of insurance operators in the Maltese market. Until recently he occupied the post of general manager of Middlesea Valletta Life Assurance Co. Ltd. He is also CEO and a director of Growth Investments Ltd, a wholly-owned subsidiary of MSV. Mr Curmi is also president of the Malta Insurance Association.
Anne Marie Tabone has been appointed chief financial officer of the Middlesea Group. Ms Tabone joined the group in 1986. She has held a number of key senior executive positions within the group, the most recent being that of general manager of International Insurance Management Services Ltd which is a wholly owned subsidiary of Middlesea Insurance plc, which role she will retain.
Marzena Formosa has been appointed chief officer (Group Investments), Elizabeth Carbonaro has been appointed chief officer (Group Finance) and Bernard Fenech has been appointed Chief Officer (Group IT).
A further review of the top management structure of the group will be undertaken within two or three years.