Former U.S. Senator Ben Nelson announced Thursday that he willnot renew his contract as CEO of the National Association ofInsurance Commissioners (NAIC). Nelson, who representedNebraska as a democrat from 2001 to 2013, joined NAIC as CEO inJanuary of 2013. His term will end Jan. 31, 2016.

Nelson says that he will return to his private law practice inNebraska and Washington, D.C., and spend more time with hisfamily.

"I have truly appreciated the opportunity to return to the NAICfollowing my retirement from the U.S. Senate," Nelson said in astatement. "Oct. 1, 2015, marks 50 years since I commenced my worksupporting state insurance regulation."

About Nelson

After receiving an M.A. degree from the University ofNebraska-Lincoln in 1965, Nelson began his career with the state'sDepartment of Insurance on Oct. 1, 1965, as supervisor of claimsand inquiries. Following his law school graduation in 1970 from thesame university, Nelson served as the assistant general counsel forCentral National Insurance Group of Omaha. In 1975, he rejoined theNebraska Department of Insurance, but this time asdirector from 1975 to 1976. He went back to Central NationalInsurance as an executive vice president, before being promoted topresident. He also served as executive vice president of the NAICfrom 1982 to 1985, and in 1990 won his first elected office whenbecame governor of Nebraska, which he served until 1999.

"On behalf of the officers and members of the NAIC, I want tothank Sen. Nelson for his service to our organization," said MonicaJ. Lindeen, NAIC President and Montana Insurance Commissioner. "Hisunique combination of experience made him a natural choice to leadour organization. He has been a staunch proponent of thestate-based regulatory system both here and abroad. We wish him allthe best in his future ventures."