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New Mexico Mutual CEO to retire in 2021

Norm Becker

ALBUQUERQUE, N.M. — After 24 years in New Mexico’s insurance industry, New Mexico Mutual president and CEO Norm Becker is planning to retire at the end of March.

Becker came to New Mexico Mutual after serving as CEO of Blue Cross Blue Shield of New Mexico.

During his time at New Mexico Mutual, Becker steered the company through the depth of the Great Recession and introduced new technological innovations that helped it grow its position as the New Mexico workers’ compensation leader, according to a news release from the company.

The company had a 32% share of the New Mexico market in 2019, up from 27% in 2010, the release said.

Most recently, Becker has focused on guiding the company through COVID-19. The company introduced premium adjustments, offered coronavirus safety assistance and provided other services to help policyholders weather the effects of the pandemic, according to the release.

Today, New Mexico Mutual has an A- (Excellent) rating from A.M. Best, the world’s largest credit rating agency specializing in the insurance industry.

Becker has also served as a leader at a variety of New Mexico charitable and civic organizations. He currently serves on the boards of PNM Resources, Presbyterian Healthcare Services, Excellence Schools New Mexico, and the Greater Albuquerque Chamber of Commerce, according to the release He previously served as chair of United Way of Central New Mexico, the National Hispanic Cultural Center Foundation, the Economic Forum of Albuquerque and the Greater Albuquerque Chamber of Commerce.

The search for a new CEO will begin this month under the leadership of Jay Czar, chair of New Mexico Mutual’s board of directors, according to the release.

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