Assurant Strengthens its Mobile Services Capabilities in South Korea with Acquisition of Olivar Co. Ltd.

Purchase of remaining shares completes opportunity to further enhance mobile lifecycle device management and asset disposition

SEOUL, South Korea--(BUSINESS WIRE)--Assurant, a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases, today announced it has purchased the remaining shareholding in Olivar Co. Ltd., a provider of mobile device lifecycle management and asset disposition in South Korea.

The transaction supports Assurant’s growth strategy for its Connected Living business and strengthens Assurant’s commitment to deliver a market-leading customer experience, mobile device protection and device lifecycle management solutions, as well as innovation through the Assurant suite of products and services.

“We are pleased to be completing the journey we started four years ago when we first came together with our initial investment,” said Keith Meier, president for International, Assurant. “Our global expertise and capabilities, combined with our local talent and knowledge, bring best-in-class services that give our clients a strategic advantage in the South Korean market.”

This announcement is the latest in a series of strategic acquisitions for Assurant, as it further enhances its global asset disposition services and deepens its footprint in the Asia Pacific region. In 2020, Assurant acquired Alegre, one of Australia’s leading specialists in refurbished mobile phones and tablets; and HYLA Mobile, a leading global provider of smartphone software, trade-in and upgrade services.

“With these recent acquisitions, we are well-positioned to support South Korea and the broader Asia Pacific region in our Lifestyle businesses, and they reaffirm our commitment to accelerate growth in the market,” added Meier.

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About Assurant

Assurant, Inc. (NYSE: AIZ) is a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases. Anticipating the evolving needs of consumers, Assurant partners with the world’s leading brands to develop innovative products and services and to deliver an enhanced customer experience. A Fortune 500 company with a presence in 21 countries, Assurant offers mobile device solutions; extended service contracts; vehicle protection services; pre-funded funeral insurance; renters insurance; lender-placed insurance products; and other specialty products. The Assurant Foundation strengthens communities by supporting charitable partners that help protect where people live and can thrive, connect with local resources, inspire inclusion and prepare leaders of the future.