Reinsurance company based in the Cayman Islands Topsail has raised $50m from existing investors to continue its growth in the region.
Topsail said the additional capital will be used to support its continued growth. The company currently underwrites more than $500m of property and casualty reinsurance business.
Topsail Re was founded in 2018 with a licenses reinsurer domiciled in the Cayman Islands and affiliated services companies based in the US. Led by industry veterans, Topsail said it is committed to providing a stable, long-term platform for its reinsurance partners.
David Johnson, CEO of Topsail, said, “The insertion of additional capital will allow Topsail Re a great deal of flexibility in achieving our long-term financial goals. We are excited by the pocket of opportunities we see in the market today and I am confident that we can continue navigating our way to grow successfully.”
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