New Mexico insurance regulator Franchini to step down

November 16, 2019 GMT

SANTA FE, N.M. (AP) — New Mexico’s top insurance regulator is stepping down.

The Albuquerque Journal reports that state Superintendent John Franchini has withdrawn his application to serve another four-year term and instead plans to retire.

A state nominating committee has already begun screening applicants for the position. There are eight remaining candidates.

Franchini worked in the insurance industry for 35 years before becoming superintendent in 2010.