Assurant Completes Acquisition of The Warranty Group
Following the announced closing of its acquisition of The Warranty Group, Assurant announced new leaders for its global automotive business.
NEW YORK — Assurant, which provides vehicle service contracts through its Assurant Solutions business unit, announced the closing of its acquisition of The Warranty Group from TPG Capital.
Following the closing, the risk management solutions provider announced several appointments to its global automotive leadership team, including the appointment of John Laudenslager as president of Assurant Global Automotive.
“We are excited to close our acquisition of The Warranty Group, which significantly advances our global lifestyle growth strategy of helping consumers protect their appliances, mobile devices, and electronics, while solidifying our global position as the premier provider of vehicle protection services,” said Assurant President and CEO Alan Colberg. “The combination of our two companies will support ongoing product and service innovation for the consumer, while we expect to realize significant operating synergies and generate more diversified and predictable earnings over time.”
The transaction’s $2.5 billion total enterprise value reflects approximately 10.4 million Assurant shares, or $993 million based on the acquisition agreement’s closing price, and approximately $1.5 billion in cash — after considering the repayment of The Warranty Group’s $596 million in existing debt.
The Warranty Group, which has annualized revenues of more than $2 billion (as of March 31, 2018), brings new client partnerships and distribution channels, including dealer networks and national accounts to Assurant. Jointly operating across 21 countries, the addition of The Warranty Group also provides additional resources to accelerate the company’s mobile strategy in key markets such as Asia-Pacific, according to company officials.
As part of the transaction, Peter McGoohan and Eric Leathers, both representatives of TPG Capital, will join Assurant’s board of directors and serve on the board’s compensation and finance and risk committees, respectively.
Laudenslager, a 30-year industry veteran who previously served as president of Assurant’s global vehicle protection services operations, will now lead a team consisting of executives from both companies. “With John at the helm of our global automotive business, this team will leverage our collective expertise in risk management, product innovation, operations, client services and program optimization to best support our clients and their customers,” said Keith Demmings, president of Assurant’s global lifestyle business unit.
On Laudenslager’s leadership team is Charlie Robinson, who will continue to lead the team serving the U.S. dealership and agent distribution channels as president of Assurant Resource Automotive — a role he held with The Warranty Group. He brings more than 40 years of experience in the F&I segments of the automobile retail industry.
Additionally, Justin Thomas, former executive vice president of The Warranty Group’s North American Specialty Solutions division, will now lead U.S. automotive national accounts for the combined companies. He will also serve as president of financial services at Assurant. Thomas spent 11 years with The Warranty Group, serving in various account management, sales, and operations positions across the company’s auto, appliance, technology, and administration groups.
Assurant officials also announced that Daniel Lenczner, the firm’s former senior vice president of strategic business development, will assume the role of senior vice president of the company’s third-party administrator group. He has more than 25 years of experience in the automotive and insurance industries.
Assurant also announced changes to its international leadership team. Those appointments can be found here.
“I’m looking forward to leading this talented team, which brings together the best of both organizations,” said Laudenslager. “The collective experience of this team will provide continuity and additional value and benefits to our clients, while also driving innovation in the vehicle protection industry.”
Originally posted on F&I and Showroom
More Dealer Ops

Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins
A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.
Read More →
Timing the Market Can Hurt Long-Term Program Performance
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
Read More →
Dealer Ads and the FTC
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
Read More →
Used Autos Supply Dwindles
The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.
Read More →
Managing Risk Effectively Through Changing Times
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
Read More →
Survey Reveals What Won't Fix What's Breaking Car Sales
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
IA American Appoints Two Execs
Senior vice presidents of the company's agent and dealer channels chosen to support general agents and help auto dealers with sales and performance.
Read More →
Cox Automotive Acquires Inspection Firm
Full ownership of Alliance Inspection Management, or AiM, meant to unlock growth for Manheim inspection capabilities
Read More →
Assurant Expands Partnership With Holman
Extended collaboration delivers training, products and performance development to 30 newly acquired Holman dealerships
Read More →
Franchises, Throughput Down in First Half
A handful of states see franchise growth through June, while EV sales per store boost overall business in U.S.
Read More →