DAC Passes $50 Million in Capital and Surplus—Reaches Financial Size Category VII
Columbus, OH (April 28, 2014) – Dealers Assurance Company (DAC) is pleased to announce that DAC has become an A.M. Best Financial Size Category VII company. Previously, DAC was a Category VI company. Category VII designates companies whose policyholder surplus totals between $50 million and $100 million. DAC surpassed $50 million in capital and policyholder surplus at the end of 2013.
Commenting on the Company’s new financial size category, Kristen Gruber, President of DAC, said, “This is a tremendous achievement. We are delighted that DAC has reached the Category VII designation. The increase in our financial size category reflects DAC’s financial stability, consistent and capable management, and continued growth.”
“In 10 years, DAC has gone from $10 million to $50 million in capital and policyholder surplus,” Gruber said. “This puts DAC in a better competitive position than ever before, and provides us with the potential to target new markets and insure even larger clients. In addition, our net premium has also increased over this time, so DAC continues to retain its existing customer base while growing and serving new clients as well.”
On August 2, 2013, A.M. Best Company affirmed DAC’s Financial Strength Rating of A- (Excellent), which was the 28th straight year that DAC received this rating. DAC is licensed to transact insurance in 49 states and the District of Columbia.
Founded in 1899, A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. Policyholders refer to A.M. Best’s ratings and analysis as a means of assessing the financial strength and creditworthiness of risk-bearing entities and investment vehicles.
If you have any questions regarding this announcement, please call DAC’s toll-free number, 800-282-8913, or email LearnMore@DealersAssurance.com.