Topa Insurance Group President and CEO John Donahue has announced his resignation from Topa Insurance Group at the end of this year. Donahue relocated to Southern California nearly six years ago for the leading role, and his decision to resign was a personal one, according to the company.
“I have had the privilege to work for the Anderson family and Topa Insurance Group for almost six years,” said Donahue. “During this time, I have had the honor of assembling and collaborating with an amazing management team, a supportive and engaged board, and a wonderful group of hard working, dedicated employees. The commute from the Bay Area to Southern California has been particularly difficult on my family. The decision to resign came out of a commitment I made to increase the quality of my life, though I will miss all of the people I have had the pleasure of working with.”
The company said in the announcement that Donahue has made significant contributions in building Topa into a boutique property/casualty insurer since he joined in 2014. He assembled an executive team, oversaw development of proprietary systems and increased employee engagement.
Donahue previously worked as president of Keenan Insurance Management Group and chief executive offer of Greenpath Insurance Co. Donahue has worked for GMAC Insurance, MAPFRE/Commerce West and the California State Automobile Association.
Michael Day, a member of the Topa Insurance Group Board of Executives, will assume the position of president and CEO while the parent company, Topa Equities, Ltd. begins a search to fill Donahue’s role. Day has more than 35 years of financial and business experience, including 12 years serving as the chief financial officer of CSAA Insurance. Additional tenures include MTV Networks, The Walt Disney Co. and Deloitte.
“I am looking forward to working closely with the Topa team during this transition,” Day said. “It is a strong company with a great culture, and I am honored to be able to build upon John’s leadership.”
“My family and I greatly appreciate John’s many contributions in building our insurance portfolio, our employees, and our executive team,” said Bill Anderson, executive chairman and CEO, Topa Equities, Ltd. “We are very fortunate to have Mike Day assuming this leadership role, and the Board and senior team very much look forward to working with him.”
Topa Insurance Group is an insurance holding company based in Calabasas, Calif. Topa Insurance Co., the largest of the wholly owned subsidiaries of Topa Insurance Group, provides wholesale insurance solutions. Other subsidiaries include Dorchester Insurance Co. (USVI), NevPac Reinsurance (BVI), and Topa Insurance Services (USVI).
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