Cayman Islands domiciled reinsurance company, Topsail Re, will be added to Mutual Re’s ownership group effective January 1st, 2026, joining Farm Bureau Mutual Insurance Company of Michigan, Kentucky Farm Bureau Mutual Insurance Company, Motorists Mutual Insurance Company (Encova Mutual Insurance Group), and Mutual Assurance Society of Virginia.
Effective January 1st, 2026, Mutual Re will remain well capitalized with more than $5 billion of combined policyholder surplus among its five assuming companies.
John Meyers, President and CEO of Mutual Re, commented: “We are excited to announce the addition of Topsail Re to our group of existing owners. They are a well-known reinsurance company with numerous connections throughout the insurance industry. We look forward to working with them and continuing to serve the mutual industry.
“We would also like to thank all of the cedents and brokers that expressed interest and/or referred companies to Mutual Re, especially BMS Re for helping bring the Topsail Re and Mutual Re relationship to fruition.”
Jay Bishop, Chief Underwriting Officer of Topsail Re, added: “Topsail Re is excited to become an owner of Mutual Re and further expand our reinsurance support to the mutual insurance industry.
“This partnership supports our strategy of developing long-term profitable relationships with companies that are like-minded.”
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