QUEBEC CITY, Jan. 24, 2018 /CNW Telbec/ - iA Financial Group announces that it has concluded the acquisition of the shares of privately-owned Dealers Assurance Company and Southwest Reinsure Inc. (collectively "DAC"). The agreement to acquire DAC was announced September 21, 2017.
DAC manufactures and distributes vehicle service contracts, or extended warranties, through a cross-country network of new and used car dealers in the U.S. This acquisition expands the Company's US presence and more than doubles the scale of its vehicle warranty business.
About iA Financial Group
Founded in 1892, iA Financial Group is one of the largest insurance and wealth management companies in Canada, with operations in the United States. It is listed on the Toronto Stock Exchange under the ticker symbol IAG.
iA Financial Group is a business name and trademark of Industrial Alliance Insurance and Financial Services Inc.
SOURCE Industrial Alliance Insurance and Financial Services Inc.
For further information: Investor Relations, Grace Pollock, Telephone: 418-780-5945, Email: [email protected]; Public Relations, Pierre Picard, Telephone: 418-684-5000, ext. 101660, Email: [email protected]