Topa Insurance Group, a boutique property and casualty insurance company with significant presence in the US wholesale insurance markets, has today announced the appointment of Michael Day (pictured) as president and CEO on a permanent basis.
Day, who has over 35 years of diverse financial and business experience, including 13 years of insurance industry experience, has been leading the Calabasas, California-based Topa Insurance Group on an interim basis since the end of 2019. He joined the company in 2016, straightaway joining the Group’s board of directors and working closely with the executive team to develop the company’s enterprise risk management process.
The seasoned leader has taken the CEO reins at a challenging time due to the global coronavirus pandemic. When announcing Day’s appointment, Topa Insurance Group stated: “Day has navigated the company through these unprecedented times, due to COVID-19, with grace and integrity.” The Group switched to remote working in less than a week, and “Day has continued to build on the strong culture already in place, even while the workforce has been remote.”
The new CEO has also worked with the executive team to exit lines of business that were unprofitable or inconsistent with the Topa Insurance Group’s strategy and to reduce the company’s exposure from catastrophe events.
“We’ve demonstrated that our company is capable of meeting whatever challenges come our way,” said Day. “I’m excited to continue leading this exceptional executive team and our highly motivated and talented employees while we continue to successfully grow the company.”
Bill Anderson, chairman of the Topa Insurance Group board of directors and parent company Topa Equities, Ltd. commented on Day’s appointment: “I’ve had the privilege of working with Michael over the past four years, and am very fortunate to have him permanently assume the role as President and CEO. Michael brings considerable insight and knowledge to this position. I look forward to continuing to work with him and watching the growth of Topa Insurance Group under his leadership.”