Assurant expands partnership with Holman to support 30 new dealerships

NEW YORK - Assurant, Inc. (NYSE:AIZ), a $10.76 billion market cap company with a strong financial health rating according to InvestingPro, announced Wednesday it has expanded its partnership with Holman to provide services to 30 newly acquired dealership locations following Holman’s acquisition of Leith Automotive Group earlier this year.

The expanded collaboration will include finance and insurance products, dealership sales and F&I training, and participation program guidance for the newly added locations, according to a company press release.

Assurant has been Holman’s performance development partner since 2016. Holman is one of the largest privately owned dealership groups in the U.S., operating 59 dealerships across nine states.

"As we welcomed these already well-run dealerships into the organization, we wanted to ensure consistency across our entire family of dealerships and continue to optimize performance," said Shelby Preble, National Director of Finance at Holman.

Preble noted that the North Carolina platform is "already up over $200 PVR" since implementing Assurant’s solutions.

Assurant Global Automotive provides services in 19 countries and protects 55 million motor vehicles, including heavy trucks and equipment. The company offers vehicle service contracts, guaranteed asset protection, and ancillary products.

Holman, headquartered in Mount Laurel, New Jersey, employs more than 10,000 people across North America, the UK, and Germany. The company began as a single Ford dealership in New Jersey in 1924 and has since expanded to provide fleet management, leasing, commercial vehicle equipment manufacturing, and other automotive services.

In other recent news, Assurant, Inc. completed a public offering of $300 million in 5.550% Senior Notes due 2036, resulting in net proceeds of approximately $296 million. The company plans to use these funds to redeem $175 million of its outstanding 6.100% Senior Notes due 2026 and for other corporate purposes. Assurant also declared a quarterly dividend of $0.80 per share, payable to stockholders on September 29, 2025. In leadership changes, Mike Campbell has been appointed as Executive Vice President and Chief Operating Officer, overseeing Global Operations and Information Technology. Keefe, Bruyette & Woods raised its price target for Assurant to $235, maintaining an Outperform rating following a strong second-quarter earnings performance. Additionally, BMO Capital initiated coverage with an Outperform rating and a $238 price target, citing growth drivers such as potential share gains in mobile protection services. These developments reflect strategic financial management and leadership adjustments at Assurant.

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