Assurant, Inc. (AIZ), a premier provider of specialty insurance and insurance-related products and services, announces regulatory approval and completion of its purchase of Lifestyle Services Group, a mobile phone insurance provider previously owned by Phones 4u Finance plc.
Assurant acquired the United Kingdom mobile device insurance provider for GBP 107 million, or $172 million at current rates, in an all cash transaction announced Sept. 5, 2013 pending regulatory approval.
"We look forward to moving ahead with the efficient integration of Lifestyle Services Group into Assurant so that we can accelerate our opportunities and service capabilities in the European mobile marketplace," said Robert B. Pollock, president and CEO of Assurant, Inc.
The acquisition of Lifestyle Services Group will complement and broaden Assurant Solutions’ footprint in the mobile marketplace.