SOURCE: The Warranty Group, Inc.

The Warranty Group, Inc.

February 10, 2015 14:14 ET

The Warranty Group and AutoNation Announce Multi-Year Agreement

CHICAGO, IL--(Marketwired - Feb 10, 2015) - The Warranty Group, a leading global provider of warranty solutions and underwriting services, has announced a multi-year agreement with AutoNation, the country's largest automotive retailer. The Warranty Group will underwrite and administer AutoNation's branded service contract program under the new agreement.

"We're very pleased to expand our relationship with AutoNation to include a world-class vehicle protection program," explained Charles A. Robinson IV, President and Chief Operating Officer, Resource Automotive, a wholly-owned subsidiary of The Warranty Group. "The Warranty Group and AutoNation have done business together for 16 years. Both businesses have grown substantially during that time and become the market leaders in their respective auto categories. We're proud to now further strengthen our relationship, and help enhance AutoNation's strong brand value by providing their customers with the protection and service they deserve."

Steve Strader, President of AutoNation Financial Services, LLC, stated, "AutoNation is pleased to expand our long term relationship with The Warranty Group. The AutoNation private label vehicle protection plan is a product designed to supplement our coast-to-coast brand with a vehicle protection product that provides our customers with the assurances they need to protect the investment in their vehicle. Offered with several coverage and deductible options, our customers will have the ability to select the plan that best fits their needs."

The private label vehicle protection program will be available at Texas-based AutoNation dealerships beginning in April, 2015, with a national roll-out completed by December, 2015.

About The Warranty Group: Celebrating 50 years of industry leadership, The Warranty Group is one of the world's premier global providers of warranty solutions and related benefits, with operations in more than 35 countries and nearly 1,700 employees. With Virginia Surety Company and London General Insurance as our wholly-owned insurance companies, The Warranty Group is a single-source solution that provides underwriting, claims administration, and marketing expertise to some of the world's leading manufacturers, distributors, and retailers of consumer goods including automobiles, homes, consumer appliances, electronics, and furniture, as well as specialty insurance products and services for financial institutions. For more information, visit www.thewarrantygroup.com.

About AutoNation, Inc.: AutoNation is leading the automotive retail industry through bold leadership and the recently introduced AutoNation Express. AutoNation delivers a peerless automotive retail experience through their customer-focused sales and service processes. Owning and operating 284 new vehicle franchises, which sell 34 new vehicle brands across 15 states, and with $19 billion in revenue in 2014, AutoNation is America's largest automotive retailer, with state-of-the-art operations and the ability to leverage economies of scale that benefit the customer. As an indication of their leadership position in our industry, AutoNation is a component of the S&P 500 Index.