Bond Assureo 5.625% ( US04621XAC20 ) in USD

Assureo

100 % ⇌

United States

US04621XAC20 ( in USD )

5.625% per year ( payment 2 times a year)

15/02/2014 - Bond has expired

Prospectus brochure of the bond Assurant US04621XAC20 in USD 5.625%, expired

1 000 USD

500 000 000 USD

04621XAC2

NR

NR

Assurant is a global provider of specialty insurance products and related services, primarily focused on vehicle protection plans, lender-placed insurance, and other specialized insurance offerings for individuals and businesses.

The Bond issued by Assureo ( United States ) , in USD, with the ISIN code US04621XAC20, pays a coupon of 5.625% per year.
The coupons are paid 2 times per year and the Bond maturity is 15/02/2014

The Bond issued by Assureo ( United States ) , in USD, with the ISIN code US04621XAC20, was rated NR by Moody's credit rating agency.

The Bond issued by Assureo ( United States ) , in USD, with the ISIN code US04621XAC20, was rated NR by Standard & Poor's ( S&P ) credit rating agency.

FILED PURSUANT TO RULE 424(B)(3)
424B3 1 y94799b3e424b3.htm FILED PURSUANT TO RULE 424(B)(3)
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FILED PURSUANT TO RULE 424(B)(3)
Table of Contents
Filed pursuant to Rule 424(B)(3)
Registration #333-115157
PROSPECTUS

$975,000,000
Assurant, Inc.
OFFER TO EXCHANGE UP TO $500,000,000
5.625% SENIOR NOTES DUE 2014 FOR ANY AND ALL OUTSTANDING
5.625% SENIOR NOTES DUE 2014
OFFER TO EXCHANGE UP TO $475,000,000
6.750% SENIOR NOTES DUE 2034 FOR ANY AND ALL OUTSTANDING
6.750% SENIOR NOTES DUE 2034
We are offering to exchange up to $500,000,000 of our new 5.625% Senior Notes due 2014, which are referred to
as the "2014 exchange notes," for up to $500,000,000 of our existing 5.625% Senior Notes due 2014, which are
referred to as the "2014 restricted notes," and up to $475,000,000 of our new 6.750% Senior Notes due 2034, which
are referred to as the "2034 exchange notes," for up to $475,000,000 of our existing 6.750% Senior Notes due 2034,
which are referred to as the "2034 restricted notes." The 2014 exchange notes and the 2034 exchange notes are referred
to collectively as the "exchange notes," and the 2014 restricted notes and the 2034 restricted notes are referred to
collectively as the "restricted notes." We refer to the restricted notes and exchange notes collectively as the "notes."
The terms of each series of exchange notes are identical to the terms of the corresponding series of the restricted notes,
except that the exchange notes have been registered under the Securities Act of 1933 and the transfer restrictions and
registration rights relating to the restricted notes do not apply to the exchange notes.
To exchange your restricted notes for exchange notes:
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·
you are required to make the representations described on page 185 to us and

·
you must complete and send, or otherwise be bound by, the letter of transmittal that accompanies this
prospectus to the exchange agent, SunTrust Bank, by 5:00 p.m., New York City time, on June 14, 2004.
You should read the section called "The Exchange Offer" for further information on how to exchange your
restricted notes for exchange notes.
Each broker-dealer that receives exchange notes for its own account pursuant to the exchange offer must
acknowledge that it will deliver a prospectus in connection with any resale of such exchange notes. The letter of
transmittal states that by so acknowledging and by delivering a prospectus, a broker-dealer will not be deemed to admit
that it is an "underwriter" within the meaning of the Securities Act of 1933. This prospectus, as it may be amended or
supplemented from time to time, may be used by a broker-dealer in connection with resales of exchange notes received
in exchange for restricted notes where such restricted notes were acquired by such broker-dealer as a result of market-
making activities or other trading activities. We have agreed that, starting on the expiration date (as defined herein) and
ending on the close of business 180 days after the expiration date, we will make this prospectus available to any broker-
dealer for use in connection with any such resale. See "Plan of Distribution."
YOU SHOULD CAREFULLY CONSIDER THE RISK FACTORS ON PAGE 16 OF THIS PROSPECTUS
BEFORE PARTICIPATING IN THE EXCHANGE OFFER.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES TO BE ISSUED IN THE
EXCHANGE OFFER OR PASSED UPON THE ADEQUACY OR ACCURACY OF THIS PROSPECTUS.
ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
May 13, 2004
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TABLE OF CONTENTS
SUMMARY
RISK FACTORS
FORWARD-LOOKING STATEMENTS
USE OF PROCEEDS
CORPORATE STRUCTURE AND REORGANIZATION
CAPITALIZATION
SELECTED CONSOLIDATED FINANCIAL INFORMATION
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
BUSINESS
REGULATION
MANAGEMENT
PRINCIPAL STOCKHOLDERS
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
DESCRIPTION OF NOTES
THE EXCHANGE OFFER
DESCRIPTION OF OTHER INDEBTEDNESS
CERTAIN UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS
CERTAIN ERISA CONSIDERATIONS
PLAN OF DISTRIBUTION
LEGAL MATTERS
EXPERTS
WHERE YOU CAN FIND MORE INFORMATION
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
GLOSSARY OF SELECTED INSURANCE AND REINSURANCE TERMS
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Table of Contents
TABLE OF CONTENTS

Page
Prospectus Summary

1
Risk Factors
16
Forward-Looking Statements
39
Use of Proceeds
40
Corporate Structure and Reorganization
41
Capitalization
42
Selected Consolidated Financial Information
44
Ratio of Earnings to Fixed Charges
47
Management's Discussion and Analysis of Financial
Condition and Results of Operations
48
Business
90
Regulation
128
Management
139
Principal Stockholders
159
Certain Relationships and Related Transactions
161
Description of Notes
165
The Exchange Offer
174
Description of Other Indebtedness
184
Certain United States Federal Income Tax Considerations
185
Certain ERISA Considerations
186
Plan of Distribution
188
Legal Matters
189
Experts
189
Where You Can Find More Information
189
Index to Consolidated Financial Statements and

Supplementary Data
F-1
Glossary of Selected Insurance and Reinsurance Terms
G-1
You should rely only on the information contained in this prospectus. We have not authorized any other
person to provide you with information that is different from that contained in this prospectus. We are offering
to sell and seeking offers to buy these notes only in jurisdictions where offers and sales are permitted. The
information contained in this prospectus is accurate only as of the date of this prospectus, regardless of the time
of delivery of this prospectus or of any sale of the notes.
In this prospectus references to the "Company," "Assurant," "we," "us" or "our" refer to Assurant, Inc., a
Delaware corporation, and its subsidiaries and its predecessor, Fortis, Inc., a Nevada corporation. Unless the context
otherwise requires, references to (1) "Assurant, Inc." refer solely to Assurant, Inc., a Delaware corporation, and not to
any of its subsidiaries, (2) "Fortis, Inc." refer solely to Fortis, Inc., a Nevada corporation, and not to any of its
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subsidiaries, and (3) "Fortis" refer collectively to Fortis N.V., a public company with limited liability incorporated as
naamloze vennootschap under Dutch law, and Fortis SA/NV, a public company with limited liability incorporated as
société anonyme/ naamloze vennootschap under Belgian law, the ultimate parent companies of Fortis Insurance N.V.,
our largest stockholder. Unless we specifically state otherwise or the context otherwise requires, all references to
shares outstanding after our initial public offering and percentage ownership after our initial public offering, reflect
(1) changes that took place in connection with the merger for the purpose of redomestication that occurred on
February 4, 2004, including the exchange in the merger of each share of Class A Common Stock of Fortis, Inc. for
10.75882039 shares of Common Stock of Assurant, Inc., (2) the automatic conversion of the shares of Class B
Common Stock and Class C Common Stock issued in the merger in accordance with their terms simultaneously with
the closing of our initial public offering, which occurred on February 10, 2004, into an aggregate of 25,841,418 shares
of Common Stock of Assurant, Inc. for all of the outstanding shares of Class B Common Stock and Class C Common
Stock based on the public offering price of our common stock, (3) the issuance by us of 32,976,854 shares of Common
Stock of Assurant, Inc. to Fortis Insurance N.V. simultaneously with the closing of our initial public offering in
exchange for the $725.5 million capital contribution referred to under "Corporate Structure and Reorganization" based
on the public offering price of our common stock, and (4) the issuance by us of an aggregate of 68,976 shares of
Common Stock of Assurant, Inc. to certain of our officers pursuant to stock grants made on the closing of our initial
public offering and to certain of our directors
i
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Table of Contents
pursuant to stock grants made on February 4, 2004. For your convenience, we have provided a glossary, beginning on
page G-1, of selected insurance and reinsurance terms.
Neither the Securities and Exchange Commission, any state securities commission nor any other regulatory
authority, has approved or disapproved the notes nor have any of the foregoing authorities passed upon or endorsed the
merits of this offering or the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal
offense.
In making an investment decision, prospective investors must rely on their own examination of the Company and
the terms of the offering, including the merits and risks involved. Prospective investors should not construe anything in
this prospectus as legal, business or tax advice. Each prospective investor should consult its own advisors as needed to
make its investment decision and to determine whether it is legally permitted to exchange the notes under applicable
legal investment or similar laws or regulations.
This prospectus contains summaries believed to be accurate with respect to certain documents, but reference is
made to the actual documents for complete information. All such summaries are qualified in their entirety by such
reference. Copies of documents referred to herein will be made available to prospective investors upon request to us.
ii
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Table of Contents
SUMMARY
This summary highlights information contained elsewhere in this prospectus and may not contain all of the
information that may be important to you. Although this summary highlights important information about us and what
we believe to be the key aspects of this offering, you should read this summary together with the more detailed
information and our financial statements and the notes to those financial statements appearing elsewhere in this
prospectus. You should read this entire prospectus carefully, including the "Risk Factors" and "Forward-Looking
Statements" sections before making an investment decision.
OUR COMPANY
Overview
We pursue a differentiated strategy of building leading positions in specialized market segments for insurance
products and related services in North America and selected other markets. We provide:

·
creditor-placed homeowners insurance;

·
manufactured housing homeowners insurance;

·
debt protection administration;

·
credit insurance;

·
warranties and extended service contracts;

·
individual health and small employer group health insurance;

·
group dental insurance;

·
group disability insurance;

·
group life insurance; and

·
pre-funded funeral insurance.
The markets we target are generally complex, have a relatively limited number of competitors and, we believe,
offer attractive profit opportunities. In these markets, we leverage the experience of our management team and apply
our expertise in risk management, underwriting and business-to-business management, as well as our technological
capabilities in complex administration and systems. Through these activities, we seek to generate above-average
returns by building on specialized market knowledge, well-established distribution relationships and economies of
scale.
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As a result of our strategy, we are a leader in many of our chosen markets and products. We have leadership
positions or are aligned with clients who are leaders in creditor-placed homeowners insurance based on servicing
volume, manufactured housing homeowners insurance based on number of homes built and debt protection
administration based on credit card balances outstanding. We are also a leading writer of group dental plans sponsored
by employers based on the number of subscribers and based on the number of master contracts in force and the largest
writer of pre-funded funeral insurance measured by face amount of new policies sold. We believe that our leadership
positions give us a sustainable competitive advantage in our chosen markets.
We currently have four decentralized operating business segments to ensure focus on critical activities close to our
target markets and customers, while simultaneously providing centralized support in key functions. Our four operating
business segments are: Assurant Solutions, Assurant Health, Assurant Employee Benefits and Assurant PreNeed. Each
operating business segment has its own experienced management team with the autonomy to make decisions on key
operating matters. These managers are eligible to receive incentive-based compensation based in part on operating
business segment performance and in part on company-wide performance, thereby encouraging strong business
performance and cooperation across all our businesses. At the operating business segment level, we stress disciplined
underwriting, careful analysis and constant improvement and product redesign. At the corporate level, we provide
support services, including investment, asset/liability matching and capital management, leadership development,
information technology support and other administrative and finance functions, enabling the operating business
segments to focus on their target markets and distribution relationships while enjoying the economies of scale realized
by operating these businesses together. Also, our overall strategy and financial objectives are set and continuously
monitored at the corporate level to ensure that our capital resources are being properly allocated.
Our Assurant Solutions segment, which we began operating with the acquisition of American Security Group in
1980, provides specialty property solutions and consumer protection solutions. Specialty property
1
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Table of Contents
solutions primarily include creditor-placed homeowners insurance (including tracking services) and manufactured
housing homeowners insurance. Consumer protection solutions primarily include debt protection administration, credit
insurance and warranties and extended service contracts. Our Assurant Health segment, which we began operating
with the acquisition of Time Holdings, Inc. (now Fortis Insurance Company) in 1978, provides individual health
insurance, including short-term and student medical insurance, and small employer group health insurance. Most of the
health insurance products we sell are preferred provider organization (PPO) plans. In Assurant Employee Benefits,
which we began operating with the acquisition of Mutual Benefit Life Group Division (now Fortis Benefits Insurance
Company) in 1991, we provide employer- and employee-paid group dental insurance, as well as group disability
insurance and group life insurance. In Assurant PreNeed, which we began operating with the acquisition of United
Family Life Insurance Company in 1980, we provide pre-funded funeral insurance, which provides whole life
insurance death benefits or annuity benefits used to fund costs incurred in connection with pre-arranged funerals.
We have created strong relationships with our distributors and clients in each of the niche markets we serve. In
Assurant Solutions, we have strong long-term relationships in the United States with six of the ten largest mortgage
lenders and servicers based on servicing volume, four of the seven largest manufactured housing builders based on
number of homes built, four of the six largest general purpose credit card issuers based on credit card balances
outstanding and five of the ten largest consumer electronics and appliances retailers based on combined product sales.
In Assurant Health, we have exclusive distribution relationships with leading insurance companies based on total
assets, through which we gain access to a broad distribution network and a significant number of potential customers,
as well as relationships with independent brokers. In Assurant Employee Benefits, we distribute our products primarily
through our sales representatives who work through independent employee benefits advisors, including brokers and
other intermediaries. In Assurant PreNeed, we have an exclusive distribution relationship with Service Corporation
International (SCI), the largest funeral provider in North America based on total revenues, as well as relationships with
approximately 2,000 funeral homes.
For the fiscal year ended December 31, 2003, we generated total revenues of $7,066 million and net income of
$186 million. For the year ended December 31, 2002, we generated total revenues of $6,532 million, net income before
cumulative effect of change in accounting principle of $260 million and net loss of $1,001 million (after giving effect
to a cumulative change in accounting principle of $1,261 million). As of December 31, 2003, we had total assets of
$23,728 million, including separate accounts. For the fiscal years ended December 31, 2003 and ended December 31,
2002, respectively, we had total revenues of $2,678 million and $2,401 million in Assurant Solutions, $2,091 million
and $1,912 million in Assurant Health, $1,450 million and $1,455 million in Assurant Employee Benefits and
$722 million and $727 million in Assurant PreNeed.
Competitive Strengths
We believe our competitive strengths include:

· Leadership Positions in Specialized Markets. We are a market leader in many of our chosen markets, and we
believe that our leadership positions provide us with the opportunity to generate high returns in these niche
markets.

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