Assurant (NYSE:AIZ) (NYSE: AIZ) is a specialized global insurer headquartered in New York City that offers a diverse array of risk management products and services. Established through the 2004 spin-off of Fortis’s U.S. insurance operations, the company’s roots trace back to early insurance pioneers of the late 19th and early 20th centuries. Over the years, Assurant has evolved from a traditional property and casualty underwriter into a multifaceted provider of niche coverage solutions tailored to the needs of businesses and consumers.
The company operates through several primary segments, each focused on a distinct area of specialty insurance. Its Global Housing segment provides renters, condo unit owners and manufactured housing insurers with policies that cover personal property, liability and supplemental living expenses. Assurant’s Global Lifestyle group delivers extended service contracts, mobile device protection, and tech support for smartphones, tablets and home appliances. The Global Vehicle segment offers guaranteed asset protection (GAP), mechanical breakdown coverage and other automotive-related products, while its Global Preneed division underwrites funeral and cemetery prearrangement plans.
Assurant serves clients in more than 20 countries, with major operations across North America, Europe, Latin America and the Caribbean. The company distributes its products through relationships with financial institutions, apartment owners and managers, mobile carriers, retailers and funeral service providers. By integrating underwriting expertise with proprietary claims management and data analytics platforms, Assurant aims to deliver efficient, customer-centric solutions and strengthen its partnerships in each market.
Corporate leadership is headed by President and Chief Executive Officer Alan Colberg, who has overseen the company’s strategic growth since 2019. Under Colberg’s direction, Assurant has emphasized digital innovation, operational excellence and environmental, social and governance (ESG) initiatives. The board and executive team continue to pursue disciplined capital management and targeted acquisitions to expand the company’s footprint in higher-growth, specialized insurance markets.
