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Assurant Health’s parent company Assurant Inc. said June 10 it will exit the health insurance market and sell some small group business lines to insurance holding company National General Holdings Corp., a move the company says will allow a smooth transition for its policyholders while freeing up resources for future goals.
In April, the company announced it would either sell or shut down its health insurance business by 2016, following projected 2015 first quarter losses for its health segment of between $80 million and $90 million.
See also: Is Assurant Health an ACA casualty?
“Assurant Inc. has concluded a comprehensive review of strategic alternatives for its health business and will exit the health insurance market as the company sharpens its focus on housing and lifestyle specialty protection offerings,” the parent company said in a statement Wednesday.
“After a thorough review of alternatives for our health business, we believe the actions announced today allow us to uphold our commitments to policyholders while freeing up resources...