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Stock Market & Financial Investment News

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March 21, 2013
11:32 EDTAIZAssurant, subsidiaries reach agreement with NYDFS
Assurant and its subsidiaries American Security Insurance Company and American Bankers Insurance Company of Florida reached an agreement with the New York Department of Financial Services, or NYDFS, regarding lender-placed insurance in the State of New York. Under the terms of the agreement, ASIC and ABIC, both part of Assurant Specialty Property, will: Make a $14M settlement payment, without admitting or denying any wrongdoing; Modify certain lender-placed business practices consistent with new regulations expected to be issued by the NYDFS that will apply to all New York-licensed lender-placed insurers of properties in the state; File its new lender-placed program and new rates in New York; Establish a refund opportunity program to be administered by an independent third party, through which New York property owners with ASIC or ABIC polices issued on or after Jan. 1, 2008 may be eligible for refunds of a portion of their premiums.
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April 16, 2014
16:33 EDTAIZNovation Cos. sells StreetLinks to Assurant for $60M
Novation Companies (NOVC) subsidiary StreetLinks has been sold to Assurant (AIZ) for $60M in cash, plus a potential earn-out payment of up to $12M post-closing based on StreetLinks future performance. Novation owned approximately 88% of StreetLinks and receives a corresponding share of the sales proceeds. StreetLinks provides banks and mortgage lenders with full service appraisal management services and appraisal management software.
16:03 EDTAIZAssurant acquires StreetLinks from Novation Cos. for $60M cash
Assurant (AIZ) announces the acquisition of StreetLinks from Novation Companies (NOVC) and other shareholders. Assurant Specialty Property has acquired StreetLinks for approximately $60M in cash, plus a potential earnout payment based on future performance. Assurant expects the transaction to be accretive to earnings in 2015.
16:02 EDTAIZAssurant acquires StreetLinks from Novation Cos. for $60M cash

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