AM Best has placed under review with developing implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Southern Vanguard Insurance Company (Southern Vanguard) (Houston, TX).

The Credit Ratings (ratings) reflect Southern Vanguard’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

The ratings of Southern Vanguard were placed under review with developing implications following its intermediate parent, Wintaai America Inc., and its subsidiary, Southern Vanguard, entering into a definitive agreement with Anderson Holdings to acquire the members of the Topa Insurance Group (Topa): Topa Insurance Company and Dorchester Insurance Company, Ltd. Form A was filed in June 2026. Subsequently, Southern Vanguard intends to become the immediate parent of Topa Insurance Company, a member of Topa. The developing implications reflect evolving post-close integration plans. The ratings will remain under review until AM Best fully analyzes the new relationship, as well as until the transaction closes, which is not expected until 2027.

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.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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