New Mexico insurance regulator Franchini to step down

New Mexico

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The Albuquerque Journal reports that state Superintendent John Franchini has withdrawn his application to serve another four-year term and instead plans to retire.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

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