COLUMBUS, Ohio — A.M. Best Co. has increased Dealers Assurance Company (DAC)’s financial size category from VI to VII. Category VII designates companies whose adjusted policyholder surplus is between $50 million and $100 million. DAC surpassed $50 million in capital and policyholder surplus at the end of 2013.
“This is a tremendous achievement,” said Kristen Gruber, president of DAC. “We are delighted that DAC has reached the Category VII designation. The increase in our financial size category reflects DAC’s continued financial stability, profitable management, and consistent growth.
“In 10 years, DAC has gone from $10 million to $50 million in capital and policyholder surplus. This puts DAC in a better competitive position than ever before, and provides us with the potential to target new markets and insure even larger clients.”
On Aug. 2, 2013, A.M. Best Company affirmed DAC’s Financial Strength Rating of A- (Excellent), which was the 28th straight year that DAC received this rating. DAC is licensed to transact insurance in 49 states and the District of Columbia.