Rep. Jeb Hensarling, R-Texas, was today named by Republicans as the new head of the House Financial Services Committee.
He succeeds Rep. Spencer Bachus, R-Ala., who was term-limited by House Republican Conference rules.
Also of note, Rep. Ed Royce, R-Calif., a key figure on insurance regulatory issues, was named chairman of the Foreign Affairs Committee. His office was not available to comment on whether he would remain a member of the FSC as well.
In another key appointment, Rep. Dave Camp, R-Mich., will remain as chairman of the Ways and Means Committee, where he will play a critical role in determining the future of tax provisions affecting the insurance industry.