Innovative Aftermarket Systems, Southwest Reinsure, Inc., and Dealers Assurance Company are now iA American Warranty Group.
AM Best has increased DAC’s Financial Strength Rating to A (Excellent).
iA Financial Group has completed its acquisition of the third-party administrator and its insurance arm, Dealers Assurance Co. Both companies will now operate as fully owned subsidiaries of iA.
iA Financial Group, one of the largest life and health insurance companies in Canada, has signed an agreement to acquire shares of third-party administrator SouthwestRe and its insurance arm, Dealers Assurance Co. The acquisition is expected to more than double the firm’s vehicle warranty business.
A.M. Best Co. has increased Dealers Assurance Company’s financial size category from VI to VII. Category VII designates companies whose adjusted policyholder surplus is between $50 million and $100 million.
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