Walter Bell, the 2007 president of the National Association of Insurance Commissioners, says he will be stepping down as Alabama insurance commissioner at the end of August.

Bell has not yet said what he plans to do after he leaves the Alabama Department of Insurance.

Gov. Robert Riley, R, who appointed Bell to the commissioner post in January 2003, issued a statement praising Bell.

“Walter’s deep knowledge and understanding of the insurance industry has been a tremendous asset to the people of Alabama,” Riley says in the statement.

Before Bell joined the Alabama department, he was an executive at the MONY Group Inc., New York.

After Bell finished his term as the NAIC president, he became chair of the NAIC’s International Insurance Relations Committee.

Bell also has been vice chairman of the International Association of Insurance Supervisors, Basel, Switzerland, and a limited partner in the Mobile Bay Bears Baseball Team, an affiliate of the Arizona Diamondbacks franchise.

In June, Bell became a director of the Bermuda Monetary Authority.