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FOR IMMEDIATE RELEASE- Topsail Holdings, Inc. announces formation of Cayman Islands domiciled Reinsurance company.

Topsail Holdings, Inc. (“Topsail”) announces the formation of a privately held Reinsurance vehicle to be led by industry veteran, David D. Johnson. Topsail has set up a Greensboro, NC based underwriting services arm to market on behalf of its Cayman Islands domiciled Reinsurer, Topsail Re, which is in the process of regulatory formation. Topsail is closely held with seeded capital from ultra-high net worth financial backing. Topsail Re will elect to be treated as a US tax paying entity under section 953(d) of the US tax code.

 

Johnson is transitioning from JLT Re where he is a Member of the North America Executive Committee and Executive Vice President.   Previously, Johnson was President and Chief Operating Officer of Axiom Re, Inc.  Co-founding Topsail with Johnson is David Lee, a former two-time NBA All-Star who has more recently been affiliated with the private equity firm Social Capital Corporation.  Other key team members transitioning to Topsail include Robert H. Harnatkiewicz FCAS, MAAA and Jacqueline (“JJ”) S. May.  Bob comes to Topsail from JLT Re with previous positions at Axiom Re and Munich Re in his 28 year career.  JJ is transitioning from Beach Re and has been associated with Axiom Re, Aon Re, and Willis Re in her 25 year tenure.

 

Topsail plans to target regional insurance carriers through brokers to offer traditional and bespoke reinsurance solutions. “Topsail is a family company built on the basis of long term relationships” said Johnson. “We are excited to form partnerships with brokers and carriers in which our experience and capital can make a difference.”

 

For more information, please visit www.TopsailRe.co

 

Topsail Re Contact: Brittany Mitchell, bmitchell@topsailre.co

 

David Johnson