Granada Financial Group and Anderson Holdings, the dad or mum firm of Topa Insurance Group, have entered right into a definitive settlement for Granada to amass the controlling curiosity in Topa.
While Granada will assume majority management of Topa, Anderson Holdings will retain a minority stake within the enterprise following the transaction.
Founded in 1981, Topa Insurance Group is the dad or mum firm of Topa Insurance Company, a property-casualty insurance coverage service, and Dorchester Insurance Company, the second-largest P&C service within the US Virgin Islands.
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Granada is the dad or mum firm of Granada Insurance Company, a Florida-based specialty business insurance coverage firm that has operated for 40 years. Granada’s principals additionally personal and handle Granada Indemnity Company, a New York-based home insurer that writes multi-peril coverages within the Northeastern US.
“As proud owners of Topa Insurance for over three decades, our family and board of directors were most interested in finding the right long-term partner who will continue to grow the business,” mentioned William Anderson, chairman of Anderson Holdings. “We believe that Granada will be an excellent steward of Topa Insurance, and we look forward to collaborating with them in the years to come.”
Topa Insurance Company was named an IBA Top Insurance Employer for 2022.
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