MEMIC to acquire The Dakota Group
MEMIC has entered into an agreement to acquire The Dakota Group, including Risk Administration Services, Inc. and its four affiliated insurance services companies.
The combining of the companies will make The MEMIC Group the third largest multi-state workers’ compensation specialist in the U.S. with estimated combined 2025 writings of more than $600 million and coverage for more than 25,000 employers nationwide. Both The MEMIC Group and The Dakota Group are rated A (Excellent) by A.M. Best.
This acquisition includes the purchase of The Dakota Group’s subsidiary-affiliated service companies, including OHARA LLC, TLC Advantage LLC, and Precision Bill Review LLC. Together, these entities provide both insurance coverage and cost-containment services, such as case management, PPO networks, and medical bill review, to a broad client base across the Midwest.
The transaction also includes Risk Administration Services, Inc. (RAS), which serves as attorney-in-fact to the reciprocal insurer Dakota Truck Underwriters (DTU), as well as a controlling interest in First Dakota Indemnity Company, which is managed by RAS.
“The Dakota Group’s strong regional brand, accomplished leadership, and consistent recognition as a Ward’s Top 50 performer since 2020 make these companies a strategic match for The MEMIC Group’s mission and values. The companies complement each other perfectly and will position us to be able to compete nationally with our special brand of customer-focused workers’ compensation.” – Michael Bourque, President and CEO of The MEMIC Group.
“For more than 35 years, RAS Companies has been committed to protecting workers and supporting businesses across the Midwest. Joining forces with MEMIC opens an exciting new chapter for our company. MEMIC’s deep expertise in workers’ compensation and its alignment with our core values and mission make this partnership a natural fit. Together, we have an incredible opportunity to combine our strengths, innovate, and deliver even greater value to the customers and partners who rely on us every day.” – Richard Johnson, President and CEO of The Dakota Group.
