Mike McCoy, CEO of NCMIC, a malpractice insurance provider for chiropractors, will retire from the organization at the end of 2025, the company announced today.

McCoy has led NCMIC for the last nine years, and in that time the company has reached record earnings, expanded its market share to 60% and increased assets by $271 million, for total assets of more than $1 billion, according to a news release.

McCoy led a shift in NCMIC’s strategy to make its finance subsidiary a top revenue driver, the release said. As a result, the company has seen a 40% increase in payments processed, with a total of $2 billion in payments processed annually.

His efforts on NCMIC’s company culture have included introducing a vision, mission, and values framework to provide a road map for employees. An emphasis on leadership development and talent acquisition has also reshaped the senior management team, the release said.

Philanthropically, NCMIC now donates over $1 million to more than 150 organizations each year.

“Since Mike’s arrival, NCMIC has flourished — not just as a company, but as a community partner,” Wayne Wolfson, president of NCMIC Group Inc., said in a prepared statement. “Mike’s vision and dedication have elevated NCMIC’s reputation within the chiropractic profession and beyond. His leadership has left an indelible mark on our organization and our community, setting a standard of excellence that will guide us for years to come.”

McCoy’s community involvement includes previously serving as chair for the United Way of Central Iowa Annual Campaign, Bravo Greater Des Moines, the Greater Des Moines Partnership and ChildServe. He has also sat on the boards of directors for UnityPoint Health Foundation, Grand View University and the Principal Charity Classic.

The NCMIC board of directors has established a search committee to evaluate the organization’s current succession plan, which will be the foundation for the selection of the company’s next CEO.