The National Association of Insurance Commissioners on Dec. 10 named Michael Consedine, the former Pennsylvania insurance commissioner and current AEGON NV executive, its new CEO.

The NAIC said Consedine will lead its Washington, D.C. office and have the primary responsibility over state and federal government affairs and international activities. The agency said he will work closely with NAIC members and represent their interests.

"Mike brings valuable experience and energy to this role during a time of transition with a new administration and Congress," said John Huff, NAIC President and Missouri Insurance Director said in a statement. "He is highly respected by members of the NAIC and served this body with distinction when he was Pennsylvania's Insurance Commissioner."

S&P Global Market Intelligence had previously reported that Consedine was selected as the next top executive of the NAIC.