Assurant Solutions, a business segment of Assurant, Inc. (NYSE: AIZ), today announces the completion of its purchase of CWI Group, a market leading mobile insurance administrator in France.
The acquisition strengthens Assurant Solutions’ market-leading capabilities in mobile device protection by significantly expanding its pan-European footprint and enhancing its ability to deliver mobile phone insurance products and services to partners in the mobile, retail and banking sectors across Europe.
CWI Group, founded in 2001, protects approximately 420,000 mobile insurance devices, with policies sold in retail, independent and franchise telephone stores, and mobile phone companies. CWI Group also supports global financial brands in offering ancillary protection plans to around 30 million cardholders.
Chris Harrison, president and CEO of Assurant Solutions Europe commented: “The acquisition of CWI Group allows us to expand our footprint in a highly dynamic and evolving market, and marks the beginning of an exciting new chapter in our European growth strategy, affording both us and our clients’ tremendous opportunities to protect the customers’ connected world.”
“European companies and consumers continue to lead the way in digital innovation,” said Craig Lemasters, president and CEO of Assurant Solutions. “CWI Group’s experience in the French mobile market will provide us with a competitive advantage in the region and further strengthen our global presence.”
Headquartered in Aix-en-Provence, CWI Group will continue to be led by co-founder and president Julien Naquet and its current management team.
“Assurant Solutions’ financial strength and deep expertise in protection programmes and services will enhance our growth opportunities,” said Julien Naquet. “Through our combined capabilities, we will strengthen our ability to deliver outstanding customer service and help protect the things that matter most to consumers.”
About CWI Group
CWI Group is an insurance brokerage firm specializing in the creation, distribution and management of affinity insurance in France, second market player of affinity insurance in France. Based in Aix-en-Provence, it was founded in 2001 and has annual sales of € 31 million with over 170 employees.