Maine Superintendent of Insurance, Alessandro Iuppa, 53,announced today he will cut short his term and leave his appointivepost Jan. 13, 2007, a few weeks after concluding his presidencywith the National Association of Insurance Commissioners.

Mr. Iuppa will step down as NAIC's head at the group's Dec. 12annual meeting, when he will be succeeded by Alabama InsuranceCommissioner Walter Bell.

The superintendent said he is considering his options on hisnext career endeavor, and should make a decision in a few weeks. Hewould not rule out a post involving the insurance industry.

A former Nevada insurance commissioner, and insurance industryconsultant, Mr. Iuppa was first appointed to his Maine post byIndependent Gov. Angus King in 1998 and reappointed in 2004 byDemocratic Gov. John Baldacci.

He said he was leaving the job with two-and-a-half years left onhis term because "with a new legislative session coming in, I feltit was appropriate to make the change now and not leave in themiddle of a legislative session." He said he understood that thegovernor will appoint Deputy Superintendent Eric Cioppa to succeedhim in an acting capacity.

"After 20 years, including 13 in Maine, in the insuranceregulatory community it is time to move on to the next chapter ofmy career," explained Mr. Iuppa.

The departing regulator said he is "confident that no futureposition will afford me a comparable opportunity to shape publicpolicy."

Mr. Iuppa's activities as NAIC president won him a backhandedcompliment from a consumer representative and praise from aninsurance industry organization.

John Lobert, senior vice president for state governmentrelations with the Property Casualty Insurers Association ofAmerica (PCI), said that as a regulator, "his hallmark has beenfairness and intelligence. He's smart and easy to deal with."

As NAIC president, his chairmanship of the InternationalAssociation of Insurance Supervisors brought more of a focus oninternational issues--one being the international accountingstandard issue, and another being reinsurance collateral.

Robert Hunter, insurance director for the Consumer Federation ofAmerica, said he felt none of the regulators at the NAIC arepro-consumer, but Mr. Iuppa is "better than average. But the wholeNAIC has moved in a negative direction out of fear of federalregulation. They have given away consumer protections."

Mr. Iuppa currently serves as a member of the NAIC ExecutiveCommittee, chairs the NAIC Reinsurance Task Force, and serves asthe U.S. representative at the International Association ofInsurance Supervisors (IAIS), where he holds the chairmanship ofits Executive Committee.

From 1986 to 1991, he was with the State of Nevada, serving asdeputy commissioner and commissioner of insurance.

As Maine superintendent, he presided over the Unum-Providentmerger, and the transformation of Maine Blue Cross to a for-profitenterprise

With the NAIC, he said he hoped to be remembered for havingworked internationally to raise the prominence of the U.S.insurance regulatory community as a regulatory entity in financialservices.

Among nations, he noted, the United States is the onlyjurisdiction to regulate insurance at a sub-federal level.

"Throughout my time as superintendent, I have endeavored to dothe right thing, right by Maine law and right for the people ofMaine. While it was not always easy and non-controversial, Ibelieve I achieved that goal. I also want to thank both GovernorsBaldacci and King for their respective support during my tenure,"he said.