Assurant
Headquarters:
One Chase Manhattan Plaza
New York, NY 10005
Employees: 13,400
Co-CEOs: Kerry Clayton and Robert Pollock
Website: http://www.assurant.com
Stock Symbol:
AIZ
Career Page
Assurant is a provider of specialized insurance
and insurance-related products and services. The company offers
creditor-placed homeowners insurance; manufactured housing homeowners
insurance; debt protection administration; credit insurance;
warranties and extended services contracts; individual health
and small employer group health insurance; group dental insurance;
group disability insurance; group life insurance; and pre-funded
funeral insurance.
The company's five key businesses are:
Assurant Employee Benefits; Assurant Health; Assurant Preneed;
Assurant Solutions and Assurant Specialty Property.
Assurant's U.S. headquarters office, located
in New York's financial district, provides strategic management
and key resources for its U.S. operating companies, including
asset management, employee benefits, tax, accounting, legal and
communications. Assurant also has offices in Syracuse, NY, and
in Woodbury, MN, which provide service support for its operating
companies in such areas as information technology, financial
and human resources systems management, and New York State policy
administration.
In 2006, Assurant reported revenues of
$8.0 billion and net income of $717.4 million.
The company has assets of over $25 billion.
History
The company originated in 1977 when N.V.
AMEV of the Netherlands made its first acquisition in the U.S.,
Time Insurance Company (now Assurant Health), via the U.S. holding
company AMEV Holdings, Inc.
In 1984, the acquisition of Western Life
creates the Fortis Financial Group. In 1991, AMEV Holdings is
renamed Fortis, Inc.
In 1994, American Bankers Insurance Group
in Miami, FL, one of the two leading U.S. credit-related insurers,
is acquired. American Bankers is combined with American Security
Group to form Assurant Group (now Assurant Solutions).
In 2003, Fortis announces its intention
to sell Fortis, Inc. via an initial public offering. Fortis,
Inc. begins process of becoming Assurant -- a publicly traded
company.
Assurant is born in 2004 when Fortis, Inc.
completes its initial public offering process and begins to trade
on the New York Stock Exchange.
Benefits
Assurant provides Medical, Dental, Life
and Disability Insurance, Basic Life, Basic Accidental
Death & Dismemberment, Short-Term and Long-Term Disability
benefits. In addition, employees can choose the level of their
benefits coverage, including Medical, Dental and Life Insurance.
401(k) Plan
Employees can defer up to 50% of their pre-tax eligible compensation
through the 401(k) program. Assurant contributes 100% on the
first 3% of pay the employee contributes on a pre-tax basis and
50% on the next 2% of pay the employee contributes pre-tax. After
five years of service, Assurant will contribute two-for-one ($2
for every $1 employee contributes) on the first 3% and 50¢
on the dollar for the next 2%. Employees are 100% vested after
three years of service.
Retirement Plan
The retirement plan is 100% company-paid. Employees are 100%
vested after three years of service.
Flexible Spending
Health Care and Dependent Care Flexible Spending Accounts are
available and designed to lower an employee's taxable income
and fund qualified health-care and dependent-care expenses. The
Health Care Spending Account reimburses eligible out-of-pocket
medical, dental and vision expenses on a pre-tax basis up to
$5,000 per year. The Dependent Care Spending Account reimburses
eligible day-care and elder-care expenses on a pre-tax basis
up to $5,000 per year.
Employee Stock Purchase Plan
A company-sponsored Employee Stock Purchase Plan (ESPP) is available
which allows employees to buy shares of Assurant, Inc. stock
at a 10% discount with funds contributed through after-tax payroll
deductions. There are two six-month offering periods each year
(January 1 through June 30 and July 1 through December 31), with
stock purchases made at the end of each offering period.
Tuition Reimbursement Assistance &
Education LifeWorks
Assurant's philosophy emphasizes the development of employees
on the job as well as through accredited educational institutions.
In support of this philosophy, Assurant reimburses tuition fees
for approved courses and provides in-house training programs
for technical and non-technical skills.
Community Involvement / Gift Match Program
Employees are encouragd to give back to their communities and
commend those who actively take time to assist and support those
around them. Assurant also matches employee donations of $25,
to a maximum of $1,500, to eligible organizations.
Work/Life Balance
Some options that may be available to employees depending upon
your responsibilities include flexible work schedules, job sharing
and part-time employment. Employees are also allowed the option
to buy up to an additional week's vacation each year on a pre-tax
basis.
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