Kansas City-based Assurant Employee Benefits, a US carrier of group life, disability and dental coverage, has reveled its plans to reinsure the majority of Shenandoah Life Insurance Company’s group insurance business.
According to the agreement, Assurant insures Shenandoah Life Insurance for 100% of the covered losses it sustains under its reinsured policies, and is net of any other third party reinsurance agreements. Shenandoah Life Insurance will continue to administer the group benefits business.
John Roberts, president and CEO of Assurant Employee Benefits, said: This agreement reflects our commitment to growing our business, and I hope it instills confidence in Shenandoah Life brokers and policyholders that we are backing their business. As a part of Assurant, we offer the stability and financial strength of a Fortune 500 company.
