CEO of Florida Citizens Insurance to retire

After Florida lawmakers made changes in the insurance system that he described as “historic,” Citizens Property Insurance Corp. President and CEO Barry Gilway said Thursday he will retire.

The Citizens Board of Governors named Tim Cerio, the state-backed insurer’s general counsel, to serve as interim president and CEO. Gilway did not give an exact date when he will leave the post, but Citizens Chairman Carlos Beruff plans to negotiate an agreement in which Gilway would play a consulting-type role.

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