auto dealer in black and red logo
MenuMENU
SearchSEARCH

Canada's iA Financial Group Completes Acquisition of SouthwestRe, DAC

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.

by Staff
January 24, 2018
2 min to read


ALBUQUERQUE, N.M. and COLUMBUS, Ohio — iA Financial Group (iA) of Canada has finalized its acquisition of Southwest Reinsure Inc. (SouthwestRe) and its insurance arm, Dealers Assurance Co. (DAC), after receiving the necessary regulatory approvals. Both companies will now operate as fully owned subsidiaries of iA.

In September, iA announced it had signed an agreement to acquire SouthwestRe and DAC, with officials saying the purchase would allow the company 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 SouthwestRe [and DAC] in the U.S., we look forward to this new chapter in our U.S. expansion with great anticipation,” said iA American President Mike Stickney.

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 Canadian auto dealerships.

SouthwestRe was founded in 1985 as a third-party administrator and provider of reinsurance programs. DAC’s roots date back to 1935. It operates as a property and casualty insurance company with offices in Columbus, Ohio, and Dallas. The company primarily serves the automotive, consumer goods and related lending industries.

“Unlike many transactions in our industry, iA has a long-term view of this acquisition and the industry in general,” said Kristen Gruber, who has served as president of DAC since 2014. “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.”

Eddie Eckert, president of SouthwestRe, added: “As you might imagine, this is an important moment for our entire organization. For the past 32 years, we have worked very hard to earn the patronage of each and every individual who has done business with SouthwestRe. Come what may, that will never change. If anything, we will work that much harder to win your business.”

Originally posted on F&I and Showroom

More Dealer Ops

Auto Dealer Today, Dealer Debrief, 07/15/2026, with Lauren Lawrence
Dealer Opsby Lauren LawrenceJuly 15, 2026

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 →
Two professionals shake hands while exchanging a car key fob beside a vehicle, symbolizing a vehicle sale, lease agreement, or dealership transaction.
SponsoredJuly 8, 2026

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 →
Auto Dealer Today, Dealer Debrief, 07/02/2026 with Lauren Lawrence
Dealer Opsby Lauren LawrenceJuly 2, 2026

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 →
Ad Loading...
Auto Dealer Today, Dealer Debrief, 06/25/2026, with Lauren Lawrence
Dealer Opsby Lauren LawrenceJune 26, 2026

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 →
group of people standing in a circle holding puzzle pieces together
Dealer OpsJune 1, 2026

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 →
Cover image for a BOK Financial report titled “Timing the market: How avoiding volatility entirely can hurt long-term reinsurance program performance.” The image shows several road construction barricades with flashing amber warning lights lined up in a nighttime work zone. Beneath the image, red text explains that avoiding volatility can mean falling behind inflation and missing market rebounds that drive long-term surplus growth. The BOK Financial logo appears at the bottom right.
SponsoredMay 8, 2026

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 →
Ad Loading...
two cars on a billboard, No Hidden Fees
ComplianceMay 1, 2026

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 →
Closeup of white car's headlight, front end
Dealer Opsby Hannah MitchellApril 17, 2026

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 →
hands making protective frame over red car, Risk Reality Check, Be Proactive, Auto Dealer Today logo
Dealer OpsApril 1, 2026

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 →
Ad Loading...
Car key, stacks of coins, and a paper car cutout with AutoPayPlus logo, representing auto financing, loan terms, and vehicle affordability trends.
Dealer Opsby StaffMarch 31, 2026

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 →