Addison, TX (March 5, 2020) – Dealers Assurance Company (DAC) is pleased to announce that AM Best has increased DAC’s Financial Strength Rating to A (Excellent). Prior to this change, DAC’s Financial Strength Rating had been A- (Excellent) since 1986.
“AM Best’s rating upgrade follows years of strong performance where DAC has consistently outperformed its peers in operating ratios, profitability, and total return on equity,” said Kristen Gruber, President of Dealers Assurance Company. “We have steadily grown surplus from sustainable sources, resulting in a very strong level of risk-adjusted capitalization.”
“AM Best recognized DAC’s seasoned management team that continues to execute our business strategy to protect our policyholders and reward our shareholders,” Gruber said. “In combination with our new ownership by iA Financial Group, DAC is in a much stronger and more competitive position than ever before.”
AM Best announced DAC’s increased Financial Strength Rating in a news release on March 4, 2020.
Founded in 1899, the AM Best Company is the world’s oldest and most authoritative insurance rating and information source. Policyholders refer to AM 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 800-282-8913, or email LearnMore@DealersAssurance.com.
About Dealers Assurance Company
With roots dating back to 1935, Dealers Assurance Company is a Property and Casualty insurance company that primarily serves the automotive and consumer goods industries. DAC is domiciled in Ohio with a corporate office in Addison, TX. DAC is licensed to write insurance in all 50 states and the District of Columbia, and has been an AM Best Financial Size Category VII company since 2014.
About iA Financial Group
iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is one of Canada's largest public companies and is listed on the Toronto Stock Exchange under the ticker symbols IAG (common shares) and IAF (preferred shares). iA Financial Group is a business name and trademark of iA Financial Corporation Inc. and Industrial Alliance Insurance and Financial Services Inc.