New York State Financial Services Department’s deputy superintendent James Wrynn will leave his post to join a law firm early next month.
Wrynn will become a senior partner at Goldberg Segalla L.L.P. for its global insurance services practice group, beginning March 5. He will also run the firm’s New York City office in midtown Manhattan. Wrynn served as the 40th and last superintendent of insurance for New York State until it merged with the state’s banking department to form the new Department of Financial Services last October. He then served as the first deputy superintendent of the new department.
Prior to serving as superintendent, Wrynn served as the executive director of the New York State Insurance Fund, New York’s largest workers’ compensation and disability benefits carrier.
In addition to overseeing the state’s supervision of all insurance companies that do business in New York, Wrynn played a key role in developing national and international regulations and policies governing the insurance industry. In 2010 he was elected chair of the Northeast zone of the National Association of Insurance Commissioners.
Wrynn also represented the United States as a member of the International Association of Insurance Supervisors (IAIS), an organization of insurance supervisory authorities from nearly 140 countries that sets international standards for insurance regulators.
He participated heavily in international issues such as Solvency II (an economic risk-based solvency regulatory framework to be utilized by all European Union member states); systemic risk (and the development of a methodology for the identification of globally systemically important financial institutions and the measures to be taken once identified); the development of a common framework for the supervision of internationally active insurance groups; group supervision; and numerous other issues and initiatives.