Alabama Governor Bob Riley announced on August 8, 2008 that Walter A. Bell will be resigning as Alabama’s Insurance Commissioner at the end of this month. Bell has served as Insurance Commissioner since January 2003. Last year, he served as president of the National Association of Insurance Commissioners (“NAIC”), making him the first Alabama commissioner to head the NAIC. He is also a past president of the NAIC Executive Committee and currently holds the position of Vice Chairman of the International Association of Insurance Supervisors.

In July of this year, the Bermuda Monetary Authority, which regulates financial services for Bermuda-based companies, including insurance companies, appointed Bell as the first international member on its Board of Directors. On August 19, 2008, Swiss Re announced Bell’s appointment as the Chairman of Swiss Re America Holding Corporation. He assumes this position on September 2, 2008.

Bell’s replacement has not been yet announced.

To view Governor Riley’s official press release regarding Bell’s resignation, click here.