NEW YORK, September 29, 2004—Assurant, Inc. ("Assurant") (NYSE: AIZ), a leading provider of specialized insurance and insurance-related products and services, today announced that Christopher J. Pagano, 40, Executive Vice President of Assurant Asset Management, will be named President and Chief Investment Officer of Assurant Asset Management, effective January 1st. He will assume the roles and responsibilities of Lucinda Landreth, 57, who will retire at the end of December.
J. Kerry Clayton, President and Chief Executive Officer said "During her tenure at Assurant, we have greatly benefited from Cindy's investment acumen and managerial talent. Under her leadership, Assurant Asset Management (formerly known as Fortis Advisers) was successful in achieving excellent returns while further diversifying our portfolios, all in a challenging investment environment. Cindy was instrumental in the evolution of the Asset Management group and played a key role in its further integration with the individual business units. Her experience, insight, and management expertise have been invaluable to our company, and we wish her well in her retirement."
Ms. Landreth has been President and Chief Investment Officer of Assurant Asset Management since October 2002. Prior to her current position, Ms. Landreth was Chief Investment Officer for the Fortis Mutual Fund family and Executive Vice President of Fortis Advisers from 1997 until 2001. Prior to joining Assurant, Ms. Landreth held positions as Chief Investment Officer of Alex. Brown Advisory and Trust Co. and Managing Director of Equity Investments for PNC Bank Corp.
Ms. Landreth plans to retire in Philadelphia with her husband, where she is actively involved in the community. She will maintain corporate and non-profit board affiliations and continue to serve as a Trustee of Wilson College, where she received her bachelor's degree in History and Asian Studies.
Mr. Pagano is Executive Vice President of Assurant Asset Management, and has worked closely with Ms. Landreth. In his new role, Mr. Pagano will continue executing the Assurant Asset Management strategy to achieve high and predictable levels of investment income and total returns that meet the long-term goals of Assurant's businesses. Mr. Pagano will report to Mr. Clayton.
"Assurant is fortunate to have Chris on board to assume this role," said Mr. Clayton. "He is an energetic and proven investment management executive, who will undoubtedly continue to support the growth and strategic initiatives of our businesses in the years ahead. His longstanding tenure within the group will enable him to make a smooth transition in his new position."
Mr. Pagano joined Assurant in March 1996. Prior to joining Assurant, he served as Vice President at Merrill Lynch, where his last role was as the government strategist in Global Fixed Income Research.
Assurant Asset Management is the money management division that manages the general account assets of Assurant.
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.
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