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 AM 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.

  • In 1935, Mahoning Insurance Company was formed, one of the first pure captive insurance companies in the USA.
  • In 1980, Mahoning was purchased by Dealers Alliance Corporation, and its name was changed to Dealers Assurance Company.
  • In 2004, Dealers Alliance Corporation and Dealers Assurance Company were acquired by DAC Financial Holdings.
  • In January 2018, DAC was purchased by iA Financial Group.
  • In March 2020, AM Best increased DAC's Financial Strength Rating to "A" Excellent, and reaffirmed this rating in April 2021 and May 2022. To view the current rating, please visit www.ambest.com (registration required).