Louisiana Citizens Property Insurance CEO Resigns Unexpectedly

The chief executive officer of state-backed Louisiana Citizens Property Insurance Corp. abruptly resigned following a closed session of the insurer’s board of directors to discuss personnel matters.

The Advocate reports David Thomas, a 40-year veteran of the insurance industry, declined to comment after the meeting.

Insurance Commissioner Jim Donelon said he could not discuss the details for Thomas’ resignation, other than to say it involved other personnel issues.

Donelon says one of Citizens’ senior staff members will lead the insurer until a permanent replacement can be found.

Citizens is the insurer of last resort for residential and commercial properties in Louisiana.