News Room

June 22, 2005

Assurant Solutions to be Separated into Two Businesses

S. Craig Lemasters and John B. Owen Named President and Chief Executive Officer of Assurant Solutions and Assurant Specialty Property, Respectively

ATLANTA, GA: Assurant, Inc. announced its intention to separate Atlanta-based Assurant Solutions into two businesses - Assurant Solutions and Assurant Specialty Property (the division previously known as Consumer Protection Solutions).

S. Craig Lemasters, 44, of Atlanta, Ga., will become president and chief executive officer of Assurant Solutions, which will encompass the company's credit insurance and debt protection products; extended service contracts and warranties; and vehicle service contracts. He also will oversee the business' international operations, which include Argentina, Brazil, Canada, Denmark, Mexico, Puerto Rico and the United Kingdom.

John B. Owen, 44, of Atlanta, Ga., will become president and chief executive officer of Assurant Specialty Property. That business will include lender-placed hazard insurance and outsourcing services, collateral protection, manufactured housing insurance, renters insurance and agency-based specialty property lines.

Lemasters and Owen will assume their expanded positions immediately and lead the transition to establish the two separate businesses. Both will report to Robert B. Pollock, president and chief operating officer of Assurant. Executive offices for the new companies will remain in Atlanta. Assurant anticipates the transition will be complete by the end of the year and that the two new businesses will begin reporting separate segment financials as soon as is practical in 2006.

Lemasters and Owen succeed P. Bruce Camacho, 47, of Cumming, Ga., who previously served as president and chief executive officer of Assurant Solutions. Camacho has been named executive vice president and chief financial officer of Assurant as part of recent management changes. Camacho will continue to maintain an office in Atlanta.

"Under Bruce's leadership, Assurant Solutions has experienced strong growth," said J. Kerry Clayton, Assurant chief executive officer. "We are confident that separating these product groups will increase their ability to be innovative and focused in serving their respective markets, enabling successful growth for each of them as well as the enterprise as a whole."

About Assurant Solutions

Assurant Solutions companies develop, underwrite and market specialty insurance, membership and extended service programs through partnerships with banks, credit card issuers, retailers and other entities. They currently operate throughout North America, the Caribbean and selected countries in South America and Europe.

Assurant Solutions is part of Assurant, a premier provider of specialized insurance products and services. Assurant is traded on the New York Stock Exchange under the symbol AIZ and has approximately $20 billion in assets, $7 billion in annual revenue and 12,000 employees worldwide. www.assurant.com, www.assurantsolutions.com.

Media contact:

James A. Sykes
Director, Corporate Communications
Assurant Specialty Property
260 Interstate N. Circle, SE
Atlanta, Ga. 30339-2110
Telephone: 770.763.1015
FAX: 770.859.4325
E-mail: james.sykes@assurant.com