- The transaction further accelerates Assurant’s global automotive footprint
- Combined capabilities offer clients a broader range of products and services
- Policies continue to be issued by Virginia Surety Company (VSC), an A-rated insurer in New Zealand
Auckland – 1 December 2022 – Assurant, Inc. (NYSE: AIZ), a leading global business services company that supports, protects and connects major consumer purchases, today announced the acquisition of Protecta, a motor insurance specialist in New Zealand.
Protecta is a New Zealand-owned and operated company with 35 years of specialist experience as an underwriting agency, marketing consumer insurance products through motor traders, finance companies and direct to customer. Assurant, through wholly owned subsidiary Virginia Surety Company (VSC), has been working with Protecta since 2018 as the underwriter for its policies. Protecta’s core products include classic car insurance, motor vehicle insurance, motorcycle insurance, mechanical breakdown insurance and payment protection insurance.
EVP & President, Assurant Global Automotive, Martin Jenns said, “Assurant’s acquisition of Protecta supports our global automotive growth strategy. This transaction enables us to provide a broader range of new and innovative products and services and deliver a best-in-class customer experience that gives our clients and partners a strategic advantage in the New Zealand market.”
Shannon Beech, general manager intermediated and agent business at Protecta added, “We are excited to join Assurant. Through our partnership with VSC, we are the only provider to offer add-on insurance issued by an A-rated insurer in New Zealand. Assurant’s global capabilities and technology, combined with Protecta’s local talent and expertise, position us for even greater success.”
Protecta will be led by Hemaka Perera, president, Australia, New Zealand and Singapore at Assurant, and the Protecta Management team comprised of Bart Taylor, general manager direct business and chief commercial officer; Kevin McKay, chief financial officer; and Shannon Beech, general manager intermediated and agent business.
In 2021, Assurant and Protecta launched Assurant EV One℠, an extended warranty product for electric and hybrid vehicles.
“Globally, we will continue to invest in automotive technology, products and services that support the consumers’ connected lifestyle. As vehicles continue to evolve, and we see the rise of new energy vehicles, there is an even greater need for market-leading products and services that help our customers to thrive in the connected world,” added Jenns.
Assurant, Inc. (NYSE: AIZ) is a leading global business services company that supports, protects and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and to deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products and other specialty products.
Regional Marketing Director, APAC
International Communications Director