Assurant specialty property acquires Field Asset Services.

Position:NEWS ROOM

* Assurant Inc., Atlanta, announced on Oct. 1 it has acquired Field Asset Services from FirstService Corporation for $55 million in a cash transaction. The deal will significantly boost Assurant's presence in the property preservation, restoration and inspection services business.

The company said that the roughly 300 employees of Field Asset Services, combined with the employees of Assurant Property Advantage, would become part of a newly formed business unit based in Austin, Texas, called Assurant Field Asset Services.

Field Asset Services works with more than 25 mortgage servicing, asset management and investor clients, according to a press release announcing the acquisition. "All client services will continue as scheduled as the companies join forces," according to a press release announcing the deal.

The press release noted that the acquisition significantly expands the field services business launched in 2011 by Assurant Specialty Property as Assurant Property Advantage...

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