Assurant, Inc.
Company History
Assurant History: Founding, Growth & Key Milestones
Founded 1892 in New York City, New York
When was Assurant founded?
Assurant was founded in 1892 in New York City, New York by Founders of La Crosse Mutual Aid Association, making it 134 years old.
- Founded
- 1892
- Founding place
- New York City, New York
- Founders
- Founders of La Crosse Mutual Aid Association
- Headquarters today
- Atlanta, Georgia
- Milestones documented
- 16 (1892–2026)
- Current CEO
- Keith Demmings
- Acquisitions
- 6
| Year | Event |
|---|---|
| 1892 | La Crosse Mutual Aid Association formed |
| 1910 | Licensed as Time Insurance Company |
| 1978 | N.V. AMEV of the Netherlands buys Time Insurance |
| 1991 | AMEV Holdings renamed Fortis, Inc. |
| 1999 | Fortis acquires American Bankers Insurance |
| 2004 | NYSE listing as Assurant, Inc. |
| 2006 | Robert B. Pollock succeeds J. Kerry Clayton as CEO |
| 2013 | New York consent order on force-placed insurance |
| 2015 | Exit from health insurance and employee benefits |
| 2018 | The Warranty Group acquisition closes |
| 2020 | HYLA Mobile acquisition closes |
| 2021 | Global Preneed sold to CUNA Mutual Group |
| 2022 | Keith Demmings becomes CEO and headquarters moves to Atlanta |
| 2024 | iSmash acquired in the United Kingdom |
| 2025 | FY2025 revenue of $12.81B and the OptoFidelity purchase |
| 2026 | RL Circular Operations acquired in Australia and New Zealand |
- Where was Assurant founded?
- Assurant was founded in New York City, New York in 1892.
- Who founded Assurant?
- Assurant was founded by Founders of La Crosse Mutual Aid Association.
- When did Assurant start?
- Assurant was founded in 1892.
- How old is Assurant?
- Assurant is 134 years old as of 2026.
Founding Story
Assurant dates itself to 1892, when the La Crosse Mutual Aid Association was formed in La Crosse, Wisconsin to sell disability insurance. Neither the company's own histories nor the standard references name a founder of that association. It was licensed as an insurer as Time Insurance Company in 1910 and grew into a Wisconsin health and disability underwriter. In 1978 the Dutch insurer N.V. AMEV bought Time Insurance through its US holding company, AMEV Holdings, which was renamed Fortis, Inc. in 1991 and went on to buy John Alden in 1998 and American Bankers Insurance in 1999. Fortis took the US business public on the New York Stock Exchange on February 5, 2004, raising $1.76 billion in the fourth-largest initial public offering of that year, and renamed it Assurant, Inc.
Founders
Founders of La Crosse Mutual Aid Association
The La Crosse Mutual Aid Association was established to provide disability insurance to consumers. It was later licensed as the Time Insurance Company in 1910 and evolved into a Wisconsin health and disability underwriter. This early mutual organization formed the foundation of the business that, after a century of acquisitions and mergers including being purchased by the Dutch insurer N.V. AMEV in 1978, was eventually spun off and taken public as Assurant, Inc. in 2004. (Exact birth year remains publicly undisclosed).
Key Milestones
La Crosse Mutual Aid Association formed
Assurant traces its history to the La Crosse Mutual Aid Association, established in La Crosse, Wisconsin in 1892 to provide consumers with disability insurance. No founder of the association is named in the company own histories.
Source: prnewswire.comLicensed as Time Insurance Company
The Wisconsin Office of the Commissioner of Insurance records Time Insurance Company, the successor to the La Crosse Mutual Aid Association, as originally licensed as an insurer in 1910.
Source: oci.wi.govN.V. AMEV of the Netherlands buys Time Insurance
Dutch insurer N.V. AMEV acquired Time Insurance Company through its US holding company, AMEV Holdings, Inc., then expanded it by buying American Security Insurance, United Family, Western Insurance Company and Superior Insurance over the next 12 years.
Source: en.wikipedia.orgAMEV Holdings renamed Fortis, Inc.
After AMEV combined with VSB Groep NV in 1990 to create Fortis, the US holding company AMEV Holdings, Inc. was rebranded Fortis, Inc. in 1991. It acquired John Alden in 1998.
Source: en.wikipedia.orgFortis acquires American Bankers Insurance
Fortis, Inc. bought American Bankers Insurance Group of Miami, adding credit insurance and specialty warranty underwriting that became the core of the modern specialty lines. Fortis sold its life insurance business to The Hartford in 2001.
Source: en.wikipedia.orgNYSE listing as Assurant, Inc.
Fortis took the US business public on February 5, 2004 in a $1.76 billion initial public offering, the fourth largest of that year, and renamed it Assurant, Inc. The company was incorporated as a Delaware corporation in 2004 and trades as AIZ.
Source: en.wikipedia.orgRobert B. Pollock succeeds J. Kerry Clayton as CEO
Founding chief executive J. Kerry Clayton retired on March 17, 2006 and was succeeded by Robert B. Pollock, then president and chief operating officer, who also joined the board that day.
Source: marketwatch.comNew York consent order on force-placed insurance
Assurant, American Security Insurance Company and American Bankers Insurance Company of Florida settled a New York Department of Financial Services investigation into force-placed homeowners insurance on March 21, 2013, paying a $14 million penalty plus homeowner restitution and agreeing to rate reforms.
Source: dfs.ny.govExit from health insurance and employee benefits
On June 10, 2015 Assurant announced it would leave the health insurance marketplace and wind down Assurant Health, and on September 9, 2015 it agreed to sell its employee benefits business to Sun Life for $940 million. Both exits completed during 2015 and 2016.
Source: prnewswire.comThe Warranty Group acquisition closes
Assurant completed its purchase of The Warranty Group from TPG Capital on May 31, 2018 for a total enterprise value of about $2.5 billion, expanding vehicle service contracts and international retail protection. Assurant also sold Time Insurance in 2018.
Source: businesswire.comHYLA Mobile acquisition closes
Assurant closed its acquisition of smartphone trade-in and upgrade provider HYLA Mobile on December 1, 2020, in a transaction the company valued at about $325 million, roughly doubling its device processing volumes.
Source: businesswire.comGlobal Preneed sold to CUNA Mutual Group
Assurant closed the sale of its prearranged funeral and final expense business to CUNA Mutual Group on August 2, 2021 for about $1.35 billion, generating roughly $1.2 billion of net proceeds, and said it intended to return about $900 million of that through share repurchases within a year. The sale left Global Lifestyle and Global Housing as the reportable segments.
Source: businesswire.comKeith Demmings becomes CEO and headquarters moves to Atlanta
Keith W. Demmings became president and chief executive officer in January 2022, succeeding Alan B. Colberg, who retired at the end of 2021 after seven years in the role. Assurant relocated its headquarters from New York to Cobb County in metro Atlanta at the end of 2022.
Source: businesswire.comiSmash acquired in the United Kingdom
Assurant acquired UK tech repair retailer iSmash on April 4, 2024, giving it 68 drop-in repair locations in the UK under the iSmash and Pocket Geek Tech Repair banners. Assurant also sold its mainland China operations during 2024.
Source: assurant.co.ukFY2025 revenue of $12.81B and the OptoFidelity purchase
Assurant reported FY2025 revenue of $12.81 billion and GAAP net income of $872.7 million, its ninth consecutive year of profitable growth, launched Assurant Home Warranty, and in October 2025 acquired OptoFidelity mobile device test automation portfolio to add automated testing to its device care centers.
Source: sec.govRL Circular Operations acquired in Australia and New Zealand
In January 2026 Assurant acquired RL Circular Operations, formerly TIC Reverse Logistics, the reverse logistics division of Australia and New Zealand based TIC Group, extending its post-purchase and circular economy capabilities across Asia Pacific.
Source: assurant.com.auMajor Acquisitions
Lifestyle Services Group
2013Acquired the UK mobile device insurance provider from Phones 4u Finance plc for GBP 107 million, about $172 million at the time, to build a European mobile protection base.
The Warranty Group
2018Bought from TPG Capital for a total enterprise value of about $2.5 billion, adding global vehicle service contract and extended service contract scale.
HYLA Mobile
2020Acquired the smartphone trade-in and upgrade software and processing business in a transaction Assurant valued at about $325 million.
iSmash
2024Acquired the UK independent tech repair retailer on April 4, 2024 to scale drop-in device repair. Terms were not disclosed.
OptoFidelity mobile device test automation portfolio
2025Acquired the Finnish company mobile device test automation technology portfolio, announced October 9, 2025, to automate testing of certified pre-owned devices. Terms were not disclosed.
RL Circular Operations
2026Acquired the reverse logistics division of Australia and New Zealand based TIC Group, announced January 2026, to add post-purchase and returns capability in Asia Pacific. Terms were not disclosed.
Keep researching Assurant
Assurant Company History FAQ
What were the major eras in Assurant's evolution from 1892 to 2004?
The La Crosse Mutual Aid Association was formed in La Crosse, Wisconsin in 1892 and licensed as Time Insurance Company in 1910. Dutch insurer N.V. AMEV bought it in 1978, its US holding company became Fortis, Inc. in 1991, and Fortis added John Alden in 1998 and American Bankers Insurance in 1999 before the February 2004 NYSE listing as Assurant.
How large was the 2004 initial public offering that created Assurant?
Fortis took its US business public on February 5, 2004 at $1.76 billion, the fourth-largest initial public offering of that year, and renamed it Assurant, Inc. The company was incorporated as a Delaware corporation in 2004 and trades on the New York Stock Exchange as AIZ.
What occurred during Assurant's portfolio transformation in 2015 and 2016?
Under then chief executive Alan Colberg, Assurant announced on June 10, 2015 that it would leave health insurance and wind down Assurant Health, sold that unit supplemental and self-funded lines to National General Holdings in October 2015, and agreed on September 9, 2015 to sell employee benefits to Sun Life for $940 million, closing in March 2016.
How did the 2018 acquisition of The Warranty Group reshape Assurant's footprint?
Assurant closed its purchase of The Warranty Group from TPG Capital on May 31, 2018 for a total enterprise value of about $2.5 billion, adding global vehicle service contract volume and international retail electronics and appliance protection programs to the Global Lifestyle segment.
When did Assurant build its mobile trade-in and device processing scale?
Assurant bought UK mobile insurer Lifestyle Services Group in October 2013 for GBP 107 million and closed its roughly $325 million acquisition of trade-in specialist HYLA Mobile on December 1, 2020. It now processes about 20 million devices a year across eight device care centers.
Why did Assurant sell its Global Preneed business in 2021?
Assurant sold its prearranged funeral and final expense business to CUNA Mutual Group for about $1.35 billion, closing on August 2, 2021, to concentrate on lifestyle and housing protection. The sale produced roughly $1.2 billion of net proceeds, of which about $900 million was earmarked for share repurchases.
When did Assurant move its headquarters to Atlanta?
Assurant relocated its corporate headquarters from New York to Cobb County in metro Atlanta at the end of 2022. Its FY2025 Form 10-K lists the principal executive offices at 260 Interstate North Circle SE, Atlanta, Georgia.
What did Assurant report for fiscal 2025 and what is planned for 2026?
Assurant reported FY2025 revenue of $12.81 billion and GAAP net income of $872.7 million, its ninth consecutive year of profitable growth, and launched Assurant Home Warranty. For 2026 it guided Adjusted EBITDA excluding reportable catastrophes to hold at 2025 levels, or grow mid-to-high single digits excluding prior year reserve development.
When was Assurant founded?
Its corporate roots trace back to 1892, but it was formally spun off from the massive European conglomerate Fortis and IPO'd as Assurant in 2004.
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