NEW YORK, July 22, 2004—Assurant, Inc. ("Assurant") (NYSE: AIZ), a leading provider of specialized insurance and insurance-related products and services, today announced that Benjamin M. Cutler, 59, Executive Vice President of the Company and Chairman, Assurant Health will retire at the end of August.
J. Kerry Clayton, President and Chief Executive Officer said: "During his nearly twenty-year tenure at Assurant, we have greatly benefited from Ben's leadership. As President and CEO of Assurant Health, Ben guided the business to record profitability. Most recently, he was a key member of our IPO team. His experience, dedication and management expertise have been invaluable to our company and we wish him all the best in his retirement."
Mr. Cutler has been Executive Vice President of Assurant and Chairman, Assurant Health since January 2003. Prior to his current position, Mr. Cutler served as President and Chief Executive Officer of Assurant Health from 1996 to 2002.
"My long career at Assurant has been a very rewarding experience," said Mr. Cutler. "It has been exciting to witness Assurant's growth as well as its transition to a public company. I am proud to be associated with an industry leader and privileged to have worked with this management team."
Mr. Cutler has over 30 years of experience in the insurance industry. Before joining Assurant in 1985, Mr. Cutler held various positions at Sun Life Group of America and USLIFE Corporation. He currently serves on the boards of America's Health Insurance Plans (AHIP) and the Wellness Councils of America.
Assurant is a premier provider of specialized insurance products and related services in North America and selected other markets. The four key businesses -- 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. The Assurant business units provide 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, which is traded on the New York Stock Exchange under the symbol AIZ, has approximately $24 billion in assets and $7 billion in revenue. Assurant has more than 12,000 employees and is headquartered in New York's financial district.
Investor Relations Contacts:
Larry Cains or Melissa Kivett