COLUMBUS, Ohio – Dealers Assurance Company (DAC) announced today that its acquisition by iA Financial Group (iA) of Canada has been completed. When announced on September 21, 2017, the acquisition was subject to regulatory approval. All approvals have been received, and DAC is now a fully owned subsidiary of iA.
Founded in 1892, iA is one of the largest life and health insurance companies in Canada as well as one of the largest F&I providers for auto dealerships in Canada. iA purchased DAC in order to expand its footprint in the United States.
“With our solid track record in the extended warranty business in Canada together with the established presence of DAC in the US, we look forward to this new chapter in our US expansion with great anticipation,” said Mike Stickney, President of iA American.
“iA is the perfect strategic buyer,” said Kristen Gruber, President of DAC. “Their financial backing, in combination with DAC’s entrepreneurial spirit, will create many new opportunities for growth.”
“Unlike many transactions in our Industry, iA has a long-term view of this acquisition and the Industry in general,” Gruber added. “With the resources and stability that iA brings to the table, we look forward to becoming one of the premier warranty insurers in the U.S.”