Scottsdale, Ariz., March 1, 2018—CNA National Warranty Corporation (CNAN) returned more than $41 million to automobile dealers across the U.S. through its various participation programs for 2017. This brings its inception-to-date total to over $452 million.
“This marks the third consecutive year that we have paid out more than $40 million to our dealers,” says Joe Becker, CNAN president and chief executive officer. “This level of consistency demonstrates the dependability that our dealers expect and deserve from our retro and reinsurance options.”
With CNA National, dealers can choose the participation program that best meets both their business and individual financial goals. The company offers a retro program, as well as reinsurance, including 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. Since its inception in 1999, it has accrued over $273 million in assets.
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, 2013 and 2017.