Pat Geraghty, president and chief executive officer of GuideWell and Florida Blue, will step down at the end of the year after more than a decade leading the state’s largest health insurer, the company announced Monday.

Geraghty, 65, will step down on Dec. 31 after serving in the role since 2011. During his tenure, Florida Blue expanded into GuideWell, a health solutions enterprise operating in all 50 states, Puerto Rico and the U.S. Virgin Islands. Revenue grew from $8 billion to $32 billion, and the company now serves more than 38 million people with over 18,000 employees.

In a statement, Geraghty said he looks forward to exploring new opportunities following his departure while continuing to contribute to the U.S. health care system.

“Being entrusted with the leadership of GuideWell / Florida Blue has been the highlight of my career,” said Geraghty. “I treasure having had the opportunity to reshape a traditional insurance company into a health solutions enterprise with the consumer as the focus, and with wellness, care support, and quality of care for our members … I’m excited to explore different kinds of new opportunities and creative challenges in the years ahead and hope to continue to contribute to the evolution of the U.S. health care system as well.”

GuideWell Board Chairman Thomas G. Kuntz credited Geraghty with strengthening the company’s mission and positioning it as a national leader in health care.

“Pat Geraghty’s visionary leadership has transformed our organization and positioned us as a national leader in the evolution of health care,” he said. “His commitment to members, employees, and the communities GuideWell serves has been extraordinary.”

In Florida, Geraghty has been a visible presence in the state’s business and civic communities. He is a member of the Florida Council of 100 and has been recognized by organizations including Florida Trend, Florida Atlantic University and OneJax for his leadership and contributions to public health and economic development. Geraghty has also held several national leadership roles, including current board chair of America’s Health Insurance Plans and membership on the Blue Cross Blue Shield Association board of directors.

GuideWell’s board of directors has launched a national search for Geraghty’s successor and retained executive search firm Russell Reynolds Associates to evaluate internal and external candidates.