"The months ahead will allow LISA to engage in a productive search for a successor and to review our programs and activities so that the transition to new leadership can be seamless," Head said in his letter.

Head, 63, has run LISA since 2000. He said the trade group has grown from 13 members to 130 in the decade since he's been in charge.

"Ten years in this job is enough," Head told The Life Settlements Wire.

He said he was waiting for release of the two reports examining the life settlements market from the Government Accountability Office and Securities and Exchange Commission task force, which came out last Thursday.

Although the reports were critical about how the market is regulated, Head sees them as an affirmation of the industry's legitimacy. The GAO warned of risks to consumers due to lack of consistent state oversight and the SEC task force recommended a revision to federal securities laws to include life settlements.

"I think we're stabilizing. We're a solid industry. … Investors can make plans," Head said.

"I think the industry, which was certainly in doubt in 2000, in the last decade, has grown to prove itself as a valid option to consumers," he said.

He said he doesn't believe the industry will be assaulted any more by stories with "dubious information" such as appeared in The New York Times last September equating securitization of the market with the next sub-prime crisis.

Head said he doesn't know what he'll do in retirement, saying, "There are lots of opportunities. Maybe I'll travel the world and maybe I won't."

Asked whether he was pushed out because of the recent election of new board members taking the group in a new direction, he responded: "I don't think so."

New board members include Nate Evans, chief executive of Maple Life Financial; Zohar Elhanani, chief operating officer of Legacy Benefits; and Craig Seitel, chief executive of Abacus Settlements.

Russel Dorsett, president of LISA, declined to comment on whether Head was forced out, saying, "His [Head's] statement stands."

He said Head has said he'll be available on a consulting basis through the first part of next year, as needed.

He said he'll miss Head, saying, "Doug's a friend, his talents are enormous, his energy is boundless. He's a very passionate advocate."

As far as a replacement, he said the group will "cast a very wide net. … It's a very changed world out there. We're trying to re-examine LISA's scope and mission."