Assurant Purchases CWI Group

Assurant Solutions has made a binding offer and has been granted exclusivity to acquire CWI Group, a mobile insurance administrator in France, for approximately EUR56 million ($71 million), subject to certain conditions with a possible earnout payment based on future performance.

According to a release from the Company, the acquisition would strengthen Assurant Solutions' capabilities in mobile device protection and expand its distribution into independent retailers and the financial services affinity market in Europe.

CWI Group, founded in 2001, generates approximately EUR31 million ($39 million) in annualized revenue. The company protects approximately 420,000 mobile insurance devices, with policies sold in retail, independent and franchise telephone stores, and mobile phone companies. CWI Group also supports global financial brands in offering ancillary protection plans to around 30 million cardholders.

"European companies and consumers continue to lead the way in digital innovation. By leveraging our leadership position in the UK and the expanded capabilities of CWI Group, we plan to help an increasing number of consumers remain connected with their digital lives," said Craig Lemasters, president and CEO of Assurant Solutions. "CWI Group's experience in the French mobile market will provide us with a competitive advantage in the region and further strengthen our global presence."

Headquartered in Aix-en-Provence, CWI Group will continue to be led by co-founder and president Julien Naquet and its current management team.

"Assurant Solutions' financial strength and deep expertise in protection programs and services will enhance our growth opportunities," said Naquet. "Through our combined capabilities, we will strengthen our ability to deliver outstanding customer service and help protect the things that matter most to consumers."

The proposed transaction is expected to close in the fourth quarter 2014.

Assurant Solutions businesses develop, underwrite, market and administer specialty insurance.

More information and complete details:

www.assurantsolutions.com

www.assurant.com

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