MEMIC acquires The Dakota Group

MEMIC announced the successful closing of its acquisition of The Dakota Group, including Risk Administration Services (RAS) and its affiliated service companies. This positions MEMIC as the third-largest multi-state workers’ compensation specialist in the US, with estimated combined 2025 writings of more than $600 million and coverage for over 25,000 businesses nationwide. Both organizations are rated A (Excellent) by A.M. Best.

RAS is the attorney-in-fact for Dakota Truck Underwriters and, with the acquisition, has a controlling interest in First Dakota Indemnity. This acquisition also includes the purchase of The Dakota Group’s affiliated service companies. These companies provide cost-containment services, such as case management, PPO networks, and medical bill review, to a broad client base across the Midwest.

“This is an exciting moment. By acquiring the Dakota Group, we extend our footprint with complementary market territory and increase our impact to the upper Midwest and the Great Plains. The Dakota Group is a very well-run organization whose DNA in workers’ compensation insurance is a close match with us. Together, we have enhanced resources and broader expertise that will help us better serve agent and policyholders across the US.” – Michael Bourque, President and CEO of The MEMIC Group.

“Joining forces with the MEMIC Group strengthens RAS, The Dakota Group, and our affiliates, enabling us to better meet and exceed the evolving needs of agents and customers. Exceptional customer service has been at the heart of our work for 35 years, and that commitment will only grow stronger.” – Richard Johnson, President and CEO of The Dakota Group.

Terms of the transaction were not disclosed.