SCOTTSDALE, Ariz.—CNA National Warranty Corporation (CNAN) recently announced that over $40 million was returned to automobile dealers across the U.S. through its various participation plans for 2015, bringing its inception-to-date total to more than $370 million.
“Our participation programs exceeded our expectations in 2015,” says Joe Becker, president and chief executive officer. “The distribution amount is the highest we’ve had since the inception of these plans. The growth we’ve seen across our programs demonstrates the dependability our dealers expect and deserve from our reinsurance options.”
CNAN reinsures warranties, GAP and tire-and-wheel protection in addition to vehicle service contracts. The company has earned multiple awards as “Best Reinsurance Provider” in the Dealers’ Choice Awards, including first-place honors in 2011, 2012 and 2013.
With CNA National, dealers who are interested in reinsurance can select the participation program that best serves both their business and individual financial goals by choosing from CFC (controlled foreign corporation) and NCFC (non-controlled foreign corporation) structures. CNA National’s NCFC—Palo Verde Holdings—is managed by a board of directors made up of dealer shareholders. It has over $162 million in assets, making it an excellent choice for dealers wanting to maximize investment returns while minimizing risk.
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