May 4, 2004
Assurant Employee Benefits sells WorkAbility Division
Company focuses on core business strategy
KANSAS CITY, Mo. - Assurant Employee Benefits (formerly Fortis Benefits) announced today the sale of its WorkAbility division to Broadspire Services Inc.
"This transaction allows Assurant Employee Benefits to continue to build on our commitment to provide employee benefits solutions, including group insurance, to small and medium-sized employers. WorkAbility will be able to better focus on providing absence management services as part of a company focused on self-funded absence management services for large employers," said Mike Peninger, president and chief executive officer, Assurant Employee Benefits.
The WorkAbility division was acquired in July 2001 as part of the purchase of CORE, INC.
Assurant Employee Benefits -- The Benefits Solutions PeopleSM -- specializes in non-medical employee benefits. Assurant Employee Benefits provides long-term and short-term disability, life and accidental death and dismemberment coverage, dental insurance and disability reinsurance management services. Assurant Employee Benefits also offers voluntary (employee-paid) disability, life and dental plans. Underwriting flexibility allows Assurant Employee Benefits to develop tailor-made benefit plans for groups of any size.
Assurant Employee Benefits is part of Assurant, a premier provider of specialized insurance products and related services in North America and selected other markets. Its four key business units -- Assurant Employee Benefits; Assurant Health; Assurant Preneed; and Assurant Solutions -- have partnered with clients who are leaders in their industries and have built leadership positions in a number of specialty insurance market segments in the U.S. and selected international markets.
Assurant is traded on the New York Stock Exchange under the symbol AIZ. The Assurant Web site is www.assurant.com.
For more information contact: