A New Beginning from a Proud History

On January 23rd, 2018, James B. Smith sold Southwest Reinsure, Inc., SouthwestRe (it’s parent) and Dealers Assurance Company (DAC) to Industrial Alliance America, a subsidiary of Industrial Alliance (IA), one of the largest life insurance companies in Canada.

James B. Smith retained the rights to; therefore this message is from Jim Smith, the individual, rather than SouthwestRe, DAC or IA, the new owner of his former companies.

A History of Success

Mr. Smith is proud to have been the founder of SouthwestRe which grew to over $250 million dollars of annual premium administration through over 1,000 auto dealers at the time of sale and to have led the growth of DAC from less than $10 million of Capital and Surplus when he purchased DAC in 2004 to over $65 million of Capital and Surplus at the time of sale in 2018.

Mr. Smith wishes IA continued success for these two companies in the next phase of their operations.

Beginning Again

Mr. Smith would like to take this opportunity to thank anyone coming to this website because of past relationships or just seeing this for the first time and let them know that he will be venturing into new areas in the future. The new activities will not compete with IA but will embark on new endeavors taking advantage of the current technological and social media environment that exists today. These new areas of opportunity are:

Entering a New Phase

This new phase is a new beginning from a proud history. The foundation for our work going forward is built on insurance/reinsurance knowledge and regulatory and administrative knowledge, all supported by state-of-the art technology.

Jim is proud of the infrastructure he has helped develop over the years, and he hopes to utilize this knowledge to help support the new endeavors. The above entities will operate independently or under the new holding company, Palëstra Holdings, LLC.

Additional Resources