OUR STORY | DAC enjoys a heritage that dates back to August 1935, with the formation of Mahoning Insurance Company by Youngstown Sheet & Tube in Youngstown, Ohio. In 1977, Dealers Alliance Corporation (our parent and Administrative Obligor) was formed by a group of Ohio-based automobile dealers. Dealers Alliance purchased Mahoning in 1980, and changed Mahoning’s name to Dealers Assurance Company. In January 2004, both companies were purchased by DAC Financial Holdings. In April 2014, DAC became an A.M. Best Category VII company, having surpassed $50 million in total policyholders’ surplus. Most recently, DAC was acquired by iA Financial Group in January 2018, and our policyholders’ surplus is now close to $87 million. DAC is proud of its unique heritage and a longevity that few companies can claim. Going forward, with iA Financial Group’s backing, DAC's future is looking very bright indeed.