AM Best has placed under review with developing implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Ratings of “bbb+” (Good) of Topa Insurance Company (Calabasas, CA) and its subsidiary, Dorchester Insurance Company, Ltd. (U.S. Virgin Islands). These companies are wholly owned subsidiaries of Topa Equities, Ltd. and collectively referred to as Topa Insurance Group (Topa).

These Credit Rating actions follow Wintaai America Inc.’s (Wintaai) filing of a Form A with the California Department of Insurance on June 23, 2026, providing notice of its offer to acquire Topa. Wintaai is the majority owner of Southern Vanguard Insurance Company, a Texas-based property/casualty insurer; Stonetrust Commercial Insurance Company, a Louisiana-based workers’ compensation insurer; and Loggerhead Holding Company, LLC, which owns a Florida-based attorney-in-fact. The developing implications reflect the evolving post-close integration plans. AM Best will continue to monitor this impending transaction and provide updates as conditions warrant.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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