March 04, 2015 5:44 PM ET

Insurance

Company Overview of Union Security Insurance Company, Inc.

Company Overview

Union Security Insurance Company, Inc., doing business as Assurant Employee Benefits, markets and underwrites employee benefits solutions to small to mid-size employer groups in the United States. It specializes in providing employee benefits and services, including long-term and short-term disability, life and accidental death and dismemberment insurance, dental coverage, and disability reinsurance management services. The company also provides voluntary (employee-paid) disability, life, dental plans, term life and accidental death and dismemberment, vision, accident, cancer, critical illness, hospital confinement indemnity, self-funded disability plans, dental administrative services, and ...

2323 Grand Boulevard

Kansas City, MO 64108

United States

Founded in 1910

1,402 Employees

Phone:

816-474-2345

Fax:

816-881-8993

Key Executives for Union Security Insurance Company, Inc.

Chief Executive Officer, President, Chief Executive Officer of Assurant Health and President of Assurant Health
Age: 50
Chief Financial Officer, Senior Vice President and Treasurer
Age: 46
Director, Chief Executive Officer of Assurant Solutions and President of Assurant Solutions
Age: 53
Chief Executive Officer of Assurant Inc
Age: 59
Chief Executive Officer of Assurant Specialty Property and President of Assurant Specialty Property
Age: 55
Compensation as of Fiscal Year 2014.

Union Security Insurance Company, Inc. Key Developments

Assurant Employee Benefits Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reaffirms Financial Guidance for the Full Year 2014

Assurant Employee Benefits reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net operating income of $13.1 million against $6.1 million a year ago. Net earned premiums, fees and other was $270.0 million against $258.3 million a year ago. Net operating income increased in third quarter 2014, primarily due to improved disability loss experience. Net earned premiums, fees and other income increased in the quarter due to growth in voluntary products. Sales decreased in the quarter, primarily reflecting lower dental and long-term disability product sales. For the nine months, the company reported net operating income of $41.4 million against $23.7 million a year ago. Net earned premiums, fees and other was $806.5 million against $775.1 million a year ago. Consistent with the previously reported outlook, for full-year 2014, the company continues to expect net earned premiums and fees to increase compared to 2013 due to growth in voluntary products. Continued expense management actions to offset higher expenditures to support accelerated growth in voluntary. Results to be affected by employment trends and capital market conditions.

Assurant Employee Benefits Announces Management Changes, Effective January 1, 2015

Assurant, Inc. announced the retirement of Assurant Employee Benefits President and CEO John Roberts in January 2015. Adam Lamnin, president and CEO of Assurant Health, will assume the additional executive leadership responsibilities for Assurant Employee Benefits, effective January 1, 2015. Lamnin, 50, a 22-year veteran of Assurant, was named president and CEO of Assurant Health in January 2011 after serving as executive vice president and chief operating officer of Assurant Health for two years. Before moving to Assurant Health, Lamnin rose to the position of executive vice president and chief financial officer for Assurant Solutions and Assurant Specialty Property.

Assurant Employee Benefits Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Financial Guidance for the Full Year of 2013

Assurant Employee Benefits announced unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported net operating income of $6.1 million and net earned premiums, fees and other of $258.3 million compared to net operating income of $13.2 million and net earned premiums, fees and other of $259.7 million a year ago period. Net operating income decreased in third quarter 2013, primarily due to less favorable disability loss experience. Net earned premiums, fees and other income were flat in third quarter 2013 as continued growth in voluntary products was offset by declines primarily in long-term disability. Sales increased in third quarter 2013, primarily reflecting strong voluntary product sales including dental. For the nine months, the company reported net operating income of $23.7 million and net earned premiums, fees and other of $775.1 million compared to net operating income of $40.9 million and net earned premiums, fees and other of $784.4 million a year ago period. The company continues to expect its net earned premiums and fees to increase compared to 2012 due to higher volume in lender-placed loan portfolios, the discontinuation of a client quota-share arrangement and growth in multi-family housing products. Overall results to be affected by changes in placement rates, premium rates and catastrophe losses.

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