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Assurant Sells Absence-Management Unit

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NU Online News Service, May 4, 2004, 5:21 p.m. EDT – Assurant Employee Benefits, Kansas City, Mo., has sold its WorkAbility unit to Broadspire Services Inc., Plantation, Fla.[@@]

The price of the deal was not available.

Assurant Employee Benefits is a unit of Assurant Inc., New York, the old U.S. insurance arm of Fortis, Brussels.

The WorkAbility unit manages employee absences. Broadspire is a better fit for WorkAbility, because it sells absence-management services to large employers, while Assurant Employee Benefits prefers to focus on selling benefits to small and midsize employers, according to Assurant Employee Benefits executives.

Assurant Employee Benefits acquired the WorkAbility division in July 2001, when it bought another company.