Commissioner Julie Mix McPeak Departs Tennessee DOI for Private Sector

Tennessee Department of Commerce & Insurance (TDCI) Commissioner Julie Mix McPeak will leave state government to pursue career opportunities in the private sector. Her last day as commissioner will be June 14, 2019. TDCI Deputy Commissioner Carter Lawrence will serve as the department's interim commissioner until a permanent commissioner is selected.

"We thank Julie Mix McPeak for her over 8 years of service and her tireless commitment to her department and to Tennessee. We wish her the best in her future endeavors," said Tennessee Governor Bill Lee. "Carter Lawrence has ably served as deputy commissioner at the Department of Commerce & Insurance, and I look forward to serving alongside him as he steps into the role of interim commissioner."

Ms. McPeak was first appointed commissioner by then governor Bill Haslam in 2011 and is the immediate past president of the National Association of Insurance Commissioners. The former executive director of the Kentucky Office of Insurance, Ms. McPeak is the first woman to serve as chief insurance regulator in more than one state.

"Tennessee is a special place, and it has been a distinct privilege and honor to have served the Volunteer State," Ms. McPeak said. "It's been an amazing journey. At the end of the day, I'm enormously proud of our accomplishments on behalf of Tennesseans. I believe the department has helped play a role in transforming Tennessee into a national and international destination for families and businesses. I am excited about the next chapter of my life and my career in Nashville—and I'm equally excited about what's in store for Tennessee."

Under Ms. McPeak's leadership, Tennessee improved its captive insurance laws, resulting in Tennessee domestic captive insurance companies exceeding $1 billion in written premiums in 2017 for the first time.

Tennessee, which is one of the oldest domestic captive domiciles, has, in recent years, become one of the fastest growing.

Over the last 4 years, the number of active captives in Tennessee has doubled, jumping from 68 in 2014 to 136 at the end of 2018.

Captive premium volume has increased even more, nearly tripling since 2014, hitting $1.2 billion in 2018.

That growth, experts say, has been fueled by sweeping improvements state legislators have made to the statute.

Article photo of Julie Mix McPeak is courtesy of the TDCI.

Click on the image below to learn more about the Tennessee captive domicile.