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The Delaware Department of Insurance has announced a leadership transition plan and said Steve Kinion, longtime director of its Bureau of Captive Insurance and Financial Products, is leaving.
The bureau director position operates via contract, and a recent request for proposal process resulted in a new awardee, the department said in a statement Friday.
Mr. Kinion’s replacement is expected to be announced as soon as a contract is finalized, within the next few weeks. He has held the role of captive director since 2009.
“We wish Steve Kinion the best in his future endeavors,” Delaware Insurance Commissioner Trinidad Navarro said in the statement.
In 2017, the Delaware Captive Association said Mr. Kinion would continue to lead the bureau, reversing an earlier decision to allow his contract to lapse in favor of hiring a state resident to assume the position.