David K. Ficca, president of Baltimore Life Cos., has been elected as the company’s new chief executive, effective Jan. 1.

David K. Ficca

L. John Pearson will relinquish the CEO position to Ficca, but remain as its chairman, the insurer said.

“Our transition in leadership is part of an orderly succession process planned by our board,” Pearson said in a statement. “Mr. Ficca continues to be an integral part of our success, and is uniquely qualified to help guide the company and its associates in our strategy for profitable growth in the middle markets we serve throughout the United States.”

Since joining the company in 2002, Ficca has been on the rise. He started as the company’s senior vice president and chief financial officer, bringing more than 17 years of public accounting experience, including 13 years in the insurance industry, to Baltimore Life.

Last May, Ficca was named Baltimore Life’s 11th president.