He said he was leaving the job with two-and-a-half years left on his term because "with a new legislative session coming in, I felt it was appropriate to make the change now and not leave in the middle of a legislative session." He said he understood that the governor will appoint Deputy Superintendent Eric Cioppa to succeed him in an acting capacity.

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

The departing regulator said he is "confident that no future position will afford me a comparable opportunity to shape public policy."

Mr. Iuppa's activities as NAIC president won him a backhanded compliment from a consumer representative and praise from an insurance industry organization.

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

As NAIC president, his chairmanship of the International Association of Insurance Supervisors brought more of a focus on international issues--one being the international accounting standard issue, and another being reinsurance collateral.

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

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

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

As Maine superintendent, he presided over the Unum-Provident merger, and the transformation of Maine Blue Cross to a for-profit enterprise

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

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

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