Des Moines, Iowa – The Iowa Insurance Division is pleased to announce that Jim Armstrong was recently inducted into the Iowa Insurance Hall of Fame in a ceremony held in Altoona on October 18, 2022. Armstrong was a long-time Deputy Commissioner and Chief Examiner at the Iowa Insurance Division.
“It’s great to see Jim’s lifetime of excellent work being honored,” Iowa Insurance Commissioner Doug Ommen said. “The quality of Jim’s leadership and his keen understanding of financial issues led him to be well respected by those he worked with and regulated in Iowa, with his peers nationally at the NAIC, and with international regulators.”
As the Iowa industry expanded its footprint internationally, Armstrong was instrumental in the development of relationships with fellow international solvency regulators. Armstrong has been described as an invaluable resource during the U.S. Solvency Modernization Initiative at the National Association of Insurance Commissioners (NAIC). A few highlights of Armstrong’s leadership in Iowa, include the successful demutualization of Principal Financial Group, his standard setting regulatory oversight work that maintained the solvency of the Iowa insurance industry while navigating new types of insurance ownership, and the development of innovative solutions that allowed the Iowa industry to remain competitive with their peers.
Armstrong retired from the Iowa Insurance Division in 2020 after serving Iowans for 36 years. During his tenure, Armstrong served as Deputy Insurance Commissioner and Chief Examiner under four insurance commissioners (Therese Vaughan, Susan Voss, Nick Gerhart and Doug Ommen).
The Iowa Insurance Hall of Fame was created to celebrate and recognize insurance leaders whose outstanding contributions and leadership help form the backbone of Iowa’s insurance industry. Armstrong joins three past Iowa Insurance Division inductees: Therese Vaughan, Susan Voss, and Jim Mumford.
Photo courtesy of the Iowa Insurance Hall of Fame.