AM Best Increases DAC’s Financial Strength Rating to “A”
AM Best has increased DAC’s Financial Strength Rating to A (Excellent).
AM Best has increased DAC’s Financial Strength Rating to A (Excellent).
Addison, Texas – 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.
Originally posted on F&I and Showroom
More Dealer Ops
Dealer Debrief: Defection Data & EV Updates
In this week's debrief, host Lauren Lawrence discusses how to use defection data to your advantage and the latest on EV sales and charging infrastructure.
Read More →
How Defection Data is Bridging the Dealership Conversion Gap
Lead volume is flat, cross-shopping is up and brand loyalty is in retreat. As confident sales teams keep losing buyers they thought they had, daily industry sales data is showing dealers exactly where their funnel is breaking and how to fix it without buying a single new lead.
Read More →
Dealer Debrief: Where are you losing customers?
In this week's debrief, host Lauren Lawrence discusses the hidden leaks in dealerships where you might be losing customers without even realizing it.
Read More →
Dealer Debrief: Improving Your Inventory Management
In this week's debrief, host Lauren Lawrence covers a new survey that shows what service technicians really want and two launches that could help improve your inventory and vehicle life cycle management.
Read More →
Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins
A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.
Read More →
What Market Timing Mistakes Mean for Your Reinsurance Program
When volatility hits, dealer-owned reinsurance programs face a familiar temptation: pull back and wait for calmer waters. New data from BOK Financial shows why that instinct can quietly cost you years of surplus growth.
Read More →
Dealer Ads and the FTC
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
Read More →
Used Autos Supply Dwindles
The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.
Read More →
Managing Risk Effectively Through Changing Times
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
Read More →
Survey Reveals What Won't Fix What's Breaking Car Sales
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →