Assurant Strengthens Its Mobile Services Capabilities With Investment in Olivar Co. Ltd.

NEW YORK, Feb. 10 -- Assurant, a risk management solutions provider, issued the following news release:

Assurant, Inc., a global provider of risk management solutions, today announced it has completed a transaction for a majority interest in Olivar Co. Ltd., a provider of mobile device lifecycle management and disposition in South Korea.

The transaction strengthens Assurant's leadership in mobile device protection by enhancing its ability to deliver mobile phone insurance products and services, including trade in and upgrade programs, in the mobile and retail sectors in South Korea.

"The investment in Olivar Co. Ltd. allows us to continue to grow our presence in a highly dynamic mobile market that complements our global portfolio of connected living capabilities," said Keith Meier, president of Assurant's international operations. "Also important is the foothold Olivar gives us in the South Korean market, providing us with an additional competitive advantage in the region and further strengthening our global presence."

Headquartered in Gyeonggi-do, Olivar Co. Ltd. will continue to be led by its two co-founders, Mr. Kang and Mr. Cho, and its current management team, who will join Assurant.

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

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