NY-ASSURANT,-INC.
Assurant, Inc. (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, announces an agreement to purchase Lifestyle Services Group , a mobile phone insurance provider, for up to $160 million (GBP 107 million) in cash from Phones 4u Finance plc.
With about $185 million (GBP 125 million) of annual revenue, Lifestyle Services Group is a leading provider of mobile device insurance in the United Kingdom. The company provides a broad array of services through leading banks and retail mobile network operators to more than 8 million customers. The acquisition of Lifestyle Services Group will complement and broaden Assurant Solutions’ footprint in the mobile marketplace.
“Our acquisition of Lifestyle Services Group strengthens and expands our global mobile presence, which is an important strategic priority,” said Robert B. Pollock , president and CEO of Assurant, Inc. “Their established client portfolio, strong customer service capabilities and experienced management team accelerate our opportunities in the European mobile marketplace.”
The acquisition of Lifestyle Services Group is expected to have a minimal impact on Assurant’s 2014 earnings and be accretive going forward. The transaction is subject to regulatory approval and expected to close in the fourth quarter of 2013.
“Since we started Lifestyle Services Group in 2005 the team has built its reputation on supporting clients to deliver excellent service in the mobile device insurance market,” said Tim Whiting, CEO of Phones 4u Finance plc. “Assurant is an excellent home for Lifestyle Services Group and will support its continuing journey while allowing Phones 4u to focus on further opportunities in its core business. I would like to thank all of the Lifestyle Services Group employees for their contributions and wish them and Assurant well for the future.”
“Assurant is a recognized global specialty insurance leader that shares our commitment to help protect the mobile devices that play an increasingly important part in people’s lives,” said Chris Harrison, CEO of Lifestyle Services Group. “Together we will build on many years of mobile experience that drives us to make mobile services simpler and easier for customers. We are excited to join the Assurant team and believe this new relationship will be a valuable and productive one for our customers, clients and employees.”
About Assurant
Assurant is a premier provider of specialized insurance products and related services in North America, Latin America, Europe and other select worldwide markets. The four key businesses -- Assurant Solutions, Assurant Specialty Property, Assurant Health and Assurant Employee Benefits -- partner with clients who are leaders in their industries and build leadership positions in a number of specialty insurance market segments. Assurant businesses provide mobile device protection; debt protection administration; credit-related insurance; warranties and service contracts; pre-funded funeral insurance; solar project insurance; lender-placed homeowners insurance; renters insurance and related products; manufactured housing homeowners insurance; individual health and small employer group health insurance; group dental insurance; group disability insurance; and group life insurance.
Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has approximately $29 billion in assets and $8 billion in annual revenue. Assurant has approximately 14,500 employees worldwide and is headquartered in New York's financial district. For more information on Assurant, please visit www.assurant.com and follow us on Twitter (@AssurantNews ).
About Phones 4u Finance plc
Phones 4u Finance plc is one of the UK’s leading independent mobile retailers offering multiple networks and smartphone brands with market leading choice and value. Led by CEO Tim Whiting it was acquired by funds advised by BC Partners in April 2011 from Providence Equity Partners Inc.
In 2012 the Phones 4u group’s revenue was £1.1bn and it operates from 700 stores in the UK and employs more than 6,000 staff. In recognition of its success in delivering outstanding customer service, Phones 4u was recognized for the second consecutive year as being “best High Street retailer” at the 2013 Mobile Industry Awards.
About Lifestyle Services Group
Lifestyle Services Group is the biggest single provider of packaged account products and bespoke services to the retail banking sector and manages the largest number of mobile phone insurance customers in the UK on behalf of its clients. It partners UK High Street banks and mobile networks assisting 8 million of their customers.
Products managed by Lifestyle Services Group include mobile phone insurance, gadget insurance, mobile data back-up and security products. Services provided include brokering, underwriting, fraud investigation, supply chain management and customer administration.
Established in 2005, Lifestyle Services Group has over 1,000 employees in the UK and operations in Europe. For more information, go to www.lifestylegroup.co.uk
CAUTIONARY STATEMENT - Some of the statements included in this news release, particularly statements regarding the consummation of this acquisition and its expected impact on our financial results, may be forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's best estimates, assumptions and projections and are subject to significant uncertainties. Actual results may differ materially from those projected in the forward-looking statements. Assurant undertakes no obligation to update any forward-looking statements in this news release as a result of new information or future events or developments. For a detailed discussion of the general risk factors that could affect our results, please refer to the risk factors identified in our annual and periodic reports, including but not limited to our 2012 Annual Report on Form 10-K, as filed with the U.S. Securities and Exchange Commission.
Contact:
Assurant Media Contacts:
Shawn Kahle, 212.859.7047
Vice
President, Corporate Communications
shawn.kahle@assurant.com
or
Patrice
Eastham, 770.763.2740
Vice President, Business Communications
patrice.eastham@assurant.com
or
Assurant
Investor Relations Contacts:
Francesca Luthi, 212.859.7197
Senior
Vice President, Investor Relations
francesca.luthi@assurant.com
or
Suzanne
Shepherd, 212.859.7062
Director, Investor Relations
suzanne.shepherd@assurant.com
or
Phones
4u Investor Relations Contact:
Steven Lloyd, 01782 677666
Investor
Relations
steven.lloyd@phones4u.co.uk
or
Phones
4u Media Contact:
Chloe Park, 07766 883388
Corporate
Communications
phones4u@colombus-comms.com
or
Lifestyle
Services Group Media Contact:
Mark Read, 07795505739
Corporate
Communications
mark.read@lifestylegroup.co.uk
Link:
Information om Business Wire
Følg pressemeddelelser fra Business Wire
Skriv dig op her, og modtag pressemeddelelser på e-mail. Indtast din e-mail, klik på abonner, og følg instruktionerne i den udsendte e-mail.
Flere pressemeddelelser fra Business Wire
Hanshow Showcases Retail Media and Store Intelligence at 2025 CGF Global Summit19.6.2025 17:00:00 CEST | Press release
Hanshow, a global leader in digital retail solutions, underscored its leadership in AI, IoT, and Retail Media at the 2025 Global Summit of the Consumer Good Forum (CGF), held from June 11 to 13 at RAI Amsterdam. From an immersive ‘Future Store’ showcase in the I-Zone to moderating one of the Summit’s most anticipated panel discussions, Hanshow demonstrated how its integrated platform is driving the next wave of store transformation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250619798164/en/ Inside the Future Store: Hanshow’s Real-Time Innovation at I-Zone At Booth No.8 in the I-Zone, Hanshow presented an interactive showcase themed “Powering Your Future Store,” highlighting four core pillars of the future store: real-time pricing and shelf operations powered by ESLs; smart carts that enhance the shopping experience with autonomous navigation and seamless checkout; GenAI-enabled journeys offering contextual promotions an
Grid Dynamics to Unveil Robotic Inspection Solution at Automatica 202519.6.2025 15:15:00 CEST | Press release
Key Takeaways: At Automatica 2025, Grid Dynamics will present TPGen—an AI robotic solution developed in partnership with Wandelbots to automate industrial robotic workflows that involve complex programming. The new solution dramatically reduces programming time—transforming what typically takes weeks of manual robot programming and analysis into automated processes completed in minutes through automatic tool-path generation based on CAD models. TPGen is built on top of the Wandelbots NOVA platform which enables seamless integration with a broad range of robotic manipulators. Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (Grid Dynamics)—a leading provider of technology consulting, platform and product engineering, AI, and digital‑engagement services—today announced it will showcase its TPGen robotic solution at Automatica 2025, the world's leading event for smart automation and robotics taking place in Munich, Germany from June 24-27, 2025. The TPGen solution from Grid Dynamics, developed
Experian Accelerates Migration to AWS to Drive Innovation with Generative AI19.6.2025 15:00:00 CEST | Press release
Global data and technology leader expands its cloud footprint to enhance performance and reliability, using AWS analytics and AI capabilities to give financial organizations access to real-time intelligence Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today announced that Experian, a global data and technology company, is embarking on the next phase of its cloud migration and has selected AWS as its preferred cloud. By leveraging AWS’s advanced cloud capabilities, Experian can provide faster, more scalable solutions that empower clients with deeper insights and more secure data services. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250619029263/en/ Experian's cloud first strategy, in partnership with AWS, accelerates innovation by enhancing performance, scalability, and reliability, while enabling the company to better serve its clients with innovative products and solutions. By migrating of
Greenland Resources Receives 30-Year Exploitation License for Molybdenum and Magnesium19.6.2025 14:52:00 CEST | Press release
Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) and its fully owned Greenlandic subsidiary Greenland Resources A/S (“Greenland Resources” or the “Company”) is pleased to announce that today the Greenland’s Minister for Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, together with Dr. Ruben Shiffman, Chairman of the Board of Directors of Greenland Resources, signed a 30-year exploitation permit for molybdenum and magnesium for the Company’s Malmbjerg project in east Greenland (now defined as the Piiaaffik Høstakken). The Company can apply to extend the licence period up to 50-years. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250619915614/en/ Naalakkersuisut's Minister for Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, stated at the handover ceremony: "It is with great satisfaction that the Greenland Government can grant another exploit
Ares Management Launches First ELTIF to Expand Access to European Direct Lending Strategy19.6.2025 12:00:00 CEST | Press release
Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today the launch of its first European Long-Term Investment Fund (“ELTIF”) vehicle, the Ares European Strategic Income ELTIF Fund (“AESIF ELTIF”), a semi-liquid perpetual direct lending fund that will provide individual investors in the European Economic Area with expanded access to Ares’ leading European Direct Lending strategy. AESIF ELTIF is the latest offering through the wealth channel and its first under the updated ELTIF regime. Designed to deliver a diversified portfolio largely comprising directly originated, senior secured floating rate loans to businesses in Western Europe, AESIF ELTIF seeks to provide a durable income solution with downside protection and yield stability. AESIF ELTIF is intended to widen individual investor participation in Ares’ European Direct Lending strategy through lower investment minimums relative to traditional alternative investment product
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter samt finde vores kontaktoplysninger.
Besøg vores nyhedsrum