The MEMIC Group, a specialist in workers’ compensation insurance, is set to grow significantly after agreeing to buy The Dakota Group along with its affiliated companies. This deal will combine the two businesses and create one of the largest multi-state workers’ compensation providers in the U.S. By 2025, the new combined company expects to handle more than $600 million in insurance writings and cover over 25,000 employers.
The Dakota Group includes several subsidiaries such as OHARA LLC, TLC Advantage LLC, and Precision Bill Review LLC. These companies offer insurance coverage and services to help control costs, including case management, PPO networks, and medical bill reviews. They mainly operate across the Midwest.
The deal also covers Risk Administration Services, Inc. (RAS), which manages Dakota Truck Underwriters, a reciprocal insurer, as well as a controlling stake in First Dakota Indemnity Company. Both MEMIC and The Dakota Group share strong ratings, each holding an A (Excellent) from A.M. Best.
This acquisition will help MEMIC expand its reach beyond its strong presence along the Eastern seaboard by adding a firm well-established in the upper Midwest. The Dakota Group is a leading player in South Dakota for voluntary workers’ compensation insurance and holds a top spot in Minnesota, Iowa, Kansas, and Nebraska.
The purchase still needs regulatory approval and is expected to close in early January 2026. Aon Securities LLC and Pierce Atwood LLP are advising MEMIC, while Keefe, Bruyette & Woods and Troutman Pepper Locke LLP are working with The Dakota Group on the transaction.
This move positions MEMIC as a major force in the workers’ compensation insurance market, blending its existing strengths with The Dakota Group’s strong regional presence.