New Jersey’s Insurance Regulator Considine to Step Down: Report

By | January 22, 2012

Tom Considine, commissioner of New Jersey Department of Banking and Insurance, is planning to step down in February, according to a local report, citing sources familiar with the matter.

The Star-Ledger reported on Sunday, Jan. 22, that Considine will return to the private sector after leaving his post next month. Considine was nominated to the post by Governor Chris Christie in January 2010. He was sworn in as commissioner in March 2010.

Rumors have circulated for months that Considine would be leaving his post, following the departure of other cabinet members, according to The Star-Ledger.

According to the New Jersey Department of Banking and Insurance, some 60 new insurers have been admitted and new business lines to more than 64 companies have been extended during Considine’s two-year tenure.

Considine was a vice president with MetLife legal affairs prior to being nominated as commissioner. He had been with MetLife for 17 years. Prior to joining MetLife, Considine served as a litigation associate at Connell, Foley and Geiser, a major New Jersey law firm.

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