Iowa Insurance Commissioner Nick Gerhart on Monday announced he will resign from that position, effective Dec. 23. Deputy Commissioner Doug Ommen will be the interim insurance commissioner.

	Nick Gerhart

“I’m honored to have had the chance to serve Iowans by leading the Iowa Insurance Division,” Gerhart said in a statement. “However both myself and my family feel that as my term is ending, now is the right time to move forward to other opportunities and focus on our family as it continues to grow. Iowans are in good and capable hands with Doug Ommen as their interim insurance commissioner.”

Ommen was previously Missouri’s insurance commissioner under Gov. Matt Blunt.

“I want to thank Nick Gerhart for his service as Insurance Commissioner to the state of Iowa,” Gov. Terry Branstad said in a release. “He is a bright and talented individual who focused on protecting the public while making the industry better and more competitive in our state. I want to wish him the best in his future endeavors.”

Branstad continued: “I’m pleased that Doug Ommen has accepted this responsibility as interim insurance commissioner. Doug is a seasoned attorney and insurance regulator who has over 30 years of experience in public service, and I’m confident in his ability to lead the Iowa Insurance Division in the interim role.”

Gerhart, who was appointed insurance commissioner in February 2013 by Branstad, oversaw the state’s implementation of the Affordable Care Act and development of the state’s health insurance exchange. He later became the state’s administrator of the failed CoOportunity Health insurance cooperative when it became insolvent, and then its liquidator as its operations were wound down.

Gehart led the review of some significant insurance acquisitions during his tenure, among them a deal for Apollo Global Management LLC and Athene Holding Ltd. to acquire West Des Moines-based Aviva USA. The complex transaction increased Athene’s assets to nearly $60 billion.

He also led the team that developed and hosted the Global Insurance Symposium in Des Moines, and created Iowa Fraud Fighters, a statewide initiative that aims to educate seniors on how to protect themselves and not fall prey to fraudulent investment scams.

Gerhart, a University of Northern Iowa alum who has a master’s degree in health administration and a law degree from St. Louis University, had worked in the annuities industry for Sammons Financial Group and American Equity Life Holding Co. before his appointment as insurance commissioner.

During his term as commissioner, Gerhart served on the National Association of Insurance Commissioners Executive Committee as well as on several other NAIC committees. He is also a board member of the National Insurance Producer Registry, and in 2014 was named by the U.S. Treasury to serve on the Federal Advisory Committee on Insurance, which advises the Federal Insurance Office on domestic and international policy. Gerhart has represented the NAIC at the International Association of Insurance Supervisors and at the EU-US Dialogue project.