The head of USF&G Corp.'s life insurance subsidiary stepped down yesterday, completing a yearlong turnover of the corporation's top operating executives.
James M. Raley Jr., who had been acting president of Fidelity and Guaranty Life Insurance Co. since its
former head, John E. Avery, retired in the late summer, left yesterday for "an extended leave of absence," according to sources at the company. Mr. Raley could not be reached for comment late yesterday.
Ihor W. Hron, senior vice president at the life insurance subsidiary, was named acting president of the division.
Mr. Raley's unexpected departure came just days after the appointment of USF&G's new chairman, chief executive and president, Norman P. Blake Jr., and continues a series of high-level turnovers at the Baltimore-based insurance giant.