Eurolife chief resigns

Andreas Kritiotis, the Managing Director of Eurolife, the life insurance arm of Bank of Cyprus Group has tendered in his resignation in a surprise move, which caught the Bank and employees at Cyprus’ largest life insurance company by surprise.

Kritiotis is reported to have told Eurolife staff that his resignation is final without stating the reasons. He has said that while he will not defect to another competitor, but will be active in the financial services sector, without elaborating further.