Core Insights - Assurant, Inc. has extended its partnership with Holman, a major U.S. dealership group, to enhance its Global Automotive division, which specializes in vehicle protection products and services [1][9] - Holman has significantly expanded its operations, recently acquiring Leith Automotive Group, which nearly doubled its retail automotive operations [3][9] - Assurant will support 30 new dealership locations added through Holman's acquisition with F&I products, dealership sales, and training [3][9] Company Overview - Holman, headquartered in Mount Laurel, New Jersey, has evolved from a single Ford dealership in 1924 to one of the largest privately owned dealership groups in the U.S., operating 59 dealerships across nine states [2] - The company has diversified its services to include fleet management, leasing, and commercial vehicle equipment manufacturing, becoming a leading integrated automotive service provider in North America [2] Strategic Initiatives - Assurant collaborates with manufacturers, dealers, and technology companies to broaden its service offerings and reach, which is expected to benefit its Global Automotive business [4] - The partnership with Holman is anticipated to enhance customer satisfaction and accelerate collaboration between the two companies [3][4] Financial Performance - Assurant's Global Automotive division plays a crucial role in the company's financial performance, with positive trends noted in mobile device protection and loss experience [5] - The division's success is attributed to its adaptability to industry trends, strong partnerships, and valuable solutions provided to clients [6] Market Position - Assurant Global Automotive operates in 21 countries and serves over 50 million consumers, establishing itself as a leader in providing protection products and services in the automotive industry [7] - The company's shares have gained 13.5% over the past year, outperforming the industry's growth of 10.8% [8]
Assurant Teams Up With Holman to Boost Global Automotive Division