Wintaai Holdings Ltd., a wholly-owned subsidiary of Chou Associates Management Inc., has completed its acquisition of Stonetrust Commercial Insurance Co. (Stonetrust), headquartered in Baton Rouge, Louisiana.
Wintaai Holdings, based in Ontario, Canada, acquired Stonetrust from Dhandho Holdings.
Domiciled in Nebraska, Stonetrust is a regional mono-line workers’ compensation company with approximately $70 million in policyholder surplus and approximately $180 million in assets. The company is licensed in 28 states and currently operates in Louisiana, Texas, Oklahoma, Arkansas, Mississippi and Nebraska.
Stonetrust is led by President and CEO Michael G. Dileo; no management or personnel changes are expected as a result of the acquisition.
The acquisition is effective Jan. 1, 2018, and has been approved by the Nebraska Department of Insurance.
Wintaai Holdings Ltd. is a wholly-owned subsidiary of Chou Associates Management Inc., a Toronto-based investment advisory firm that manages a series of mutual funds, including Chou Associates Fund, Chou RRSP Fund, Chou Europe Fund, Chou Asia Fund and Chou Bond Fund. Francis Chou is the founder and CEO of Wintaai Holdings Ltd. and Chou Associates Management Inc.
Source: Wintaai Holdings Ltd.