NEW YORK, July 27, 2007—Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, announced today that Christopher J. Pagano, 43, has been promoted to executive vice president and treasurer, effective August 1, 2007. Mr. Pagano will also retain his role as president and chief investment officer, Assurant Asset Management.
In addition to overseeing Assurant's asset management group, Mr. Pagano will also oversee Assurant's corporate actuarial and treasury functions. These responsibilities were previously held by Miles B. Yakre, who has accepted an opportunity to join Assurant Employee Benefits as senior vice president and chief actuary effective August 1, 2007.
"Chris is a highly talented and experienced investment management executive and we are very pleased to announce this promotion," said J. Kerry Clayton, Assurant's interim president and chief executive officer. "Under Chris' leadership, our asset management team has constructed a diversified asset portfolio that supports the long-term growth objectives of Assurant and its businesses. He brings more than 22 years of experience in financial markets, including 11 years here at Assurant, to the treasurer role. We look forward to his continued contributions as he takes on these added responsibilities."
Miles B. Yakre, 38, was previously senior vice president, corporate actuary and treasurer, for Assurant. In his new role, Mr. Yakre will oversee the pricing and financial actuarial activities for Assurant Employee Benefits. He will also retain responsibility for managing all of Assurant's rating agency relationships.
"We are very pleased to welcome Miles to Assurant Employee Benefits," said John S. Roberts, Assurant Employee Benefits' interim president and chief executive officer. "He's been with Assurant for more than 15 years and brings with him great depth in experience relating to actuarial matters at both the business segment and corporate levels to this open position. His appointment reflects the depth and breadth of leadership talent across our organization and we look forward to his contributions."
Chris Pagano has been president and chief investment officer, Assurant Asset Management since January of 2005. He previously served as executive vice president and head of fixed income, Assurant Asset Management. Mr. Pagano joined Assurant in March 1996. Prior to joining Assurant, he served as vice president at Merrill Lynch, where his latest role was as the government strategist in global fixed income research. He began his career at Morgan Stanley in 1985. Mr. Pagano received a bachelor of science in economics from the Wharton School at the University of Pennsylvania in 1985. He earned his master of business administration in 1995 from the University of Chicago, Graduate School of Business. Mr. Pagano is a Chartered Financial Analyst.
Miles Yakre began his actuarial career in 1990 as an actuarial assistant at the Equitable. He then joined Assurant Health's John Alden Life Insurance Company as an associate actuary in 1991. He served in several positions within the John Alden organization including vice president and corporate actuary. Miles joined Assurant in New York in April 1999. Mr. Yakre earned a bachelor of science in economics from the Wharton School at the University of Pennsylvania in 1990. He is a Fellow of the Society of Actuaries (FSA), Fellow of the Life Management Institute (FLMI), and a member of the American Academy of Actuaries.
Assurant is a premier provider of specialized insurance products and related services in North America and selected international markets. Its four key businesses—Assurant Employee Benefits, Assurant Health, Assurant Solutions and Assurant Specialty Property—have partnered with clients who are leaders in their industries and have built leadership positions in a number of specialty insurance market segments worldwide.
Assurant, a Fortune 500 company, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has more than $20 billion in assets and $7 billion in annual revenue. The Assurant Web site is www.assurant.com.Press Contact:
and Media Relations
Senior Vice President