The company wants to improve its liquidity position ahead of planned IPO and settlement with AXA.
The insurer wants to allocate capital to businesses with potential for an attractive return.
The capital infusion from Centerbridge will enable TypTap to pursue its expansion plans across the US.
The new hires will strengthen its team to offer innovative risk transfer solutions.
Prior to joining CNA, he was an executive vice president at AIG.
The Bermuda-based company says it is one of the first "substantial" re/insurers of the Class of 2020.
The reinsurer's full-year net profit dropped to $206m in 2020 from $890.3m it earned in 2019.
The unit will be responsible for developing new underwriting and risk management solutions.
The executives will serve on its audit, compensation and risk committees.
John Berger is retiring after three years helping to establish the company's presence on the island.