Granada Financial Group and Anderson Holdings, the parent company of Topa Insurance Group, have reached a definitive agreement for Granada to acquire the controlling interest in Topa.
While Granada will assume majority control of Topa, Anderson Holdings will retain a minority stake in the business following the transaction.
Founded in 1981, Topa Insurance Group is the parent company of Topa Insurance Company, a property and casualty insurance company, and Dorchester Insurance Company, the second largest general insurance company in the US Virgin Islands.
Read below: Topa Insurance CEO Reveals Future Plans After ‘Transformative’ Year
Granada is the parent company of Granada Insurance Company, a Florida-based specialty commercial insurance company in business for 40 years. The Granada directors also own and manage the Granada Indemnity Company, a New York-based national insurer writing multi-peril coverage in the northeastern US.
“As the proud owners of Topa Insurance for more than three decades, our family and board of directors were most interested in finding the right long-term partner to continue to grow the business,” said William Anderson, president of Anderson Holdings. “We believe that Granada will be an excellent administrator for Topa Insurance, and we look forward to working with them in the coming years.”
Topa Insurance Company was named DIFFERENT Best Insurance Employer for 2022.
Do you have something to say about this story? Let us know in the comments below.
