Michael Johnston
Richardson
Summary
Michael S. Johnston is the Chief Executive Officer (CEO) of GAINSCO, Inc., a position he has held since January 1, 2024. He has been with GAINSCO for 30 years, demonstrating a long-standing commitment and significant contributions to the company. He has been instrumental in various capacities, from leading the Southeast Regional Operation to playing a pivotal role in the Dallas Field Operations. His strategic vision and dedication have significantly contributed to GAINSCO’s growth and success, making him a central figure in the company’s leadership.
Overview
32
32
years of professional experience
Work History
President, CEO and Chairman of the Board
MGA Insurance Company, Inc.
01.2024 - Current
- As CEO, I have assumed full responsibility for leadership of the organization and the company’s financial performance. In this role, I have continued to drive GAINSCO’s vision of expanding our presence in the minimum limits market to additional states, enhancing our future potential through strategic digital transformation of our various policy and claims systems, and strengthening our focus on the customer experience.
Chief Operating Officer
MGA Insurance Company, Inc.
12.2021 - 12.2023
- As COO, I was given leadership responsibilities for the remainder of the executive team, directly reporting to the CEO. As such, I held responsibility for the day-to-day operations performance and the resources of the company. Additionally, I partnered with the CEO on the development of the company’s strategic expansion plan, ultimately overseeing its execution.
SR VP Field Operations
MGA Insurance Company, Inc.
10.2018 - 11.2021
- Following a relocation from the Miami regional office, I oversaw the formation of the Field Operations division, bringing a single leadership to our Field Product and Sales organizations. Previously regionalized, this effort resulted in stronger collaboration and consistency in our rate strategy and agency partner engagements. This period of time also experienced our largest expansion effort to date, adding 7 new states.
VP SE Region
MGA Insurance Company, Inc.
01.1998 - 09.2018
- As head of the SE Region, I served as the executive leader in the Miami Regional office, which included SE Product & Sales.
VP
National Specialty Lines
01.1993 - 12.1997
- I served as the operations leader for this managing general agency located in Miami, Florida. This operation was acquired by GAINSCO in 1998, ultimately becoming the SE Regional office.
Education
Bachelor of Arts - Insurance
University of SC
Columbia, SC05-1987
Skills
- Strategic planning
- Financial analysis
- Regulatory compliance
- Business development
Timeline
President, CEO and Chairman of the Board
MGA Insurance Company, Inc.
01.2024 - Current
Chief Operating Officer
MGA Insurance Company, Inc.
12.2021 - 12.2023
SR VP Field Operations
MGA Insurance Company, Inc.
10.2018 - 11.2021
VP SE Region
MGA Insurance Company, Inc.
01.1998 - 09.2018
VP
National Specialty Lines
01.1993 - 12.1997
Bachelor of Arts - Insurance
University of SC
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