The New Mexico Public Regulation Commission (NMPRC) has appointed John G. Franchini as Superintendent of Insurance, the commission announced.
He will be replacing Morris J. "Mo" Chavez, who resigned in early May after serving as superintendent since 2006.
According to a statement by the commission, Mr. Chavez reached his decision after deliberating with his family, citing personal reasons for his departure.
He was replaced temporarily by chief deputy superintendent Thomas Rushton who resigned shortly thereafter, said Gerald Garner Jr., public information officer at NMPRC.
Since then, Craig Dunbar and Johnny L. Montoya have served as superintendent on an interim basis, according to Mr. Garner.
Mr. Franchini, a New Mexico native, has had nearly four decades of insurance industry-related experience.
He previously served as vice president of government and industry affairs for the New Mexico Mutual Group from 2004-2010, and prior to that he served as vice president of Brown & Brown of New Mexico, Inc. from 1998-2002.
Mr. Franchini was one of five finalists selected by a 15-member search committee.
