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Sources: NAIC selects Consedine as new top executive

Michael Consedine, the former Pennsylvania insurance commissioner and current AEGON NV executive, has been selected to lead the National Association of Insurance Commissioners, according to a source with knowledge of the matter.

Consedine and the NAIC, the regulatory standard-setting body for the U.S. insurance industry, did not immediately respond to a request for comment.

Consedine is currently global head of government policy and affairs for Aegon. He was previously mentioned as one of the rumored candidates for the NAIC's top spot.