6 May 2020Insurance

Assurant acquires AFAS to expand auto insurance offering

Assurant, a global provider of specialty protection products and related services, has acquired American Financial & Automotive Services (AFAS) to expand in the automotive insurance market.

Houston, Texas-based AFAS is a provider of auto finance and insurance products and services, including vehicle service contracts, guaranteed asset protection insurance, and other ancillary products.

Assurant has been the primary provider of vehicle service contracts and related auto products and services sold by AFAS for over 20 years. AFAS CEO and founder, Arden Hetland, along with the AFAS management team, will join Assurant upon the closing of the transaction.

“Following our acquisition of The Warranty Group, our agreement to acquire AFAS further underscores our confidence in the long-term growth potential of the global automotive market,” said John Laudenslager, president of Assurant Global Automotive. “Having Arden and his team join Assurant gives us the benefit of their years of experience and expertise, which we will count on as we continue to grow the business together.”

Hetland added: “Joining Assurant enables AFAS to benefit from the global expertise, scale and breadth of an industry leader. Having partnered with us for so many years, they clearly value our team’s depth of experience and high-touch relationship approach, which are key factors in our shared commitment to servicing clients and growing the business.”

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
15 April 2021   Service relieves entrepreneurs from back office concerns allowing them to focus on customers.
Insurance
18 December 2020   The acquisition provides Assurant with additional scale and expands its product offerings.
Insurance
22 April 2020   Willis Towers Watson is looking at global data for the motor industry to glean advanced lessons on preparing for the new normal after the COVID-19 pandemic subsides. Intelligent Insurer finds out more.