INScompanies Blog

Standard & Poor’s (S&P) has awarded Fortis Corporate Insurance N.V. an A (Strong) rating. It considers the outlook stable.

Brussels /Utrecht, 8 September 2006  Fortis Corporate Insurance is part of Fortis Insurance International and focuses on nonlife business, providing medium and large-sized companies with fire, transport, liability and fleet insurance.

Standard & Poor’s states that the rating is based partly on FCI’s sound competitive position, good operating results and very strong capitalisation. The fact that Fortis Corporate Insurance is part of Fortis is a further factor.

Patrick Coene, CEO of Fortis Corporate Insurance says: ‘We have invested a good deal in recent years in enhancing the quality of our service and the return on our portfolio. This A (A flat) rating proves that our efforts have been successful. It is an extra affirmation of our reliability in dealings with clients.’

Fortis Corporate Insurance N.V. (FCI) provides non-life insurance to medium and large-sized (inter)nationally operating companies based in the Benelux countries. FCI’s business lines are Marine, Property, Liability and Fleet. FCI is a subsidiary of Fortis Insurance International.  Fortis Corporate Insurance is part of Fortis, an international financial service provider engaged in banking and insurance. We offer our personal, business and institutional customers a comprehensive package of products and services through our own channels, in collaboration with intermediaries and through other distribution partners. With a market capitalisation of EUR 39.5 billion (31/08/2006), Fortis ranks among the twenty largest financial institutions in Europe. Our sound solvency position, our presence in 50 countries and our dedicated, professional workforce of 58,000 enable us to combine global strength with local flexibility and provide our clients with optimum support. More information is available on www.fortis.com

Press Offices:
Brussels:
+32 2 565 3584 Utrecht: +31 30 226 3219
Investor Relations:
Brussels: +32 2 510 5378 Utrecht: +31 30 226 3220

Brussels/Utrecht, 2 February 2006 Fortis launched its new international brand campaign and brand promise, ‘Getting you there’ during a special event in Brussels and Paris today. The campaign builds on the earlier promise to act as one company under one flag.

The campaign kicked off this morning when a special Fortis Thalys, branded with the images of the new campaign, entered Brussels Midi Station. CEO Jean-Paul Votron then added a final sticker bearing the word ‘growth2’ and the train took off for Paris, where Mr Votron opened the new Fortis House. The Fortis House is a new concept bringing together all services for the Enterprise and Entrepreneur under one roof, and will be rolled out across Europe.

The international brand campaign is directed primarily at medium-sized companies and international opinion leaders. The international campaign schedule includes TV, press and billboards at major international airports.

During his speech at the Fortis House, CEO Jean-Paul Votron explained: “We want our customers to know that we will go the extra mile for them. Our international activities are expanding significantly and we will continue to invest in growing our activities in Europe, and selectively in Asia and North America. At least 30% of our profits will come from outside the Benelux region by 2009.”

The new Fortis promise, ‘Getting you there’, expresses the passion, drive and expertise that Fortis wants to be identified with. Fortis helps customers to realise their dreams, plans and ideas and provides them with the right banking and insurance solutions. “A key strategic focus is on Enterprise and the Entrepreneur” Jean-Paul Votron  continued. “In particular, our European network of currently 110 business centres in 14 countries is growing by an average of seven a year, and will cover 25 European countries by 2009. Within a market of around 500,000 internationally operating medium-sized enterprises,we are targeting a 10% share. We have linked the commercial banking activities we carry out for these companies with our private banking activities. This enables us to service the same entrepreneur who comes to us with personal as well as business finance.”

Jean-Paul Votron repeated the promise he made at the beginning of 2005. “Fortis will act as one company under one flag.” This implies that all Fortis businesses will adopt the Fortis brand in the course of 2006. “And we are well on track; in November 2005 our Turkish and Luxembourg banks fully rebranded to Fortis. Now the Fortis name is also gaining visibility at our business centre network and private banking activities. Our promise emphasises that we are one company providing the same high-quality service all over the world.”

Fortis is an international financial services provider engaged in banking and insurance. We offer our personal, business and institutional customers a comprehensive package of products and services through our own channels, in collaboration with intermediaries and through other distribution partners.

With a market capitalisation of EUR 37.34 billion (31/01/2006), Fortis ranks among the twenty largest financial institutions in Europe. Our sound solvency position, our presence in 44 countries and our dedicated, professional workforce of 56,000 enable us to combine global strength with local flexibility and provide our clients with optimum support. More information is available on www.fortis.com

Press Offices:
Brussels:
+32 2 565 35 84 Utrecht: +31 30 226 32 19
Investor Relations:
Brussels:
+32 2 510 53 91 Utrecht: +31 30 226 32 20

November 13, 2006 — Assurant Health’s Jim Oatman Available for Expert Commentary on Implications of new AHIP Proposal for Universal Health Accounts 
 
A comprehensive set of new policy proposals introduced today by America’s Health Insurance Plans (AHIP), a trade group representing the nation’s health insurers, offers a blueprint for providing uninsured Americans with access to affordable health coverage.
 
The AHIP plan expands access through practical, incremental reforms and strengthens the public safety net for uninsured children and low-income families. A cornerstone of the new proposal is the establishment of Universal Health Accounts (UHAs), which allows consumers to purchase any type of health care coverage — including individual insurance, HMOs and PPOs — with pre-tax dollars.
 
Jim Oatman, a 20+ year veteran of the insurance industry and a Senior Vice President, Chief Actuary, Individual Medical at Assurant Health, is available to provide insights on the specifics of the AHIP plan, particularly the implications of UHAs for the several million Americans who purchase health insurance in the individual market. His discussion topics can include:

How UHAs would benefit those who buy individual coverage but are not self-employed, as well as early retirees and workers at firms that do not offer health savings accounts (HSAs).

The portability and flexibility benefits of UHAs, which subsidize coverage from multiple sources, including employers and the government.

The UHAs matching incentive provision, which offers health insurance subsidies for working families with moderate incomes. (Recent data from the U.S. Census Bureau shows that the fastest growth in the uninsured population is occurring among households with incomes between $25,000 and $75,000).

Expanding the State Children’s Health Insurance Program (SCHIP) to make eligible all uninsured children from families with incomes below 200 percent of the Federal Poverty Level.

Editor’s Notes:

To schedule an interview with Jim Oatman, Assurant Health’s Senior Vice President, Chief Actuary, Individual Medical, please contact Peter Duckler or Phil Chang at HLB Communications, Inc. at 312/423-4930; pduckler@hlbcomm.com or 312/423-4924; pchang@hlbcomm.com

Further details on the AHIP proposal can be found at www.ahipbelieves.org.

For additional information:

Peter Duckler
312-423-4930
pduckler@hlbcomm.com

Philip Chang
312-423-4924
pchang@hlbcomm.com

Nearly 40 percent mistakenly believe that adult children living at home are still covered under their health plans 
 
New research by College Parents of America and Assurant Health shows parents are concerned about insurance but unaware of affordable options

Milwaukee – April 18, 2006 – Graduation day is just around the corner, but it’s the parents of these young students who still need remedial education on whether their health plans cover their children and the options now available for short-term medical insurance.

Findings from a recent national survey of college parents revealed that only 23 percent were highly confident that their adult children would immediately find a job after college that provides health insurance. Yet, fewer than one in three were aware that they could buy short-term medical insurance for these young adults for as little as $50 per month.

The research was conducted by College Parents of America and Assurant Health.  It reaffirmed the results of a previous Assurant Health survey that showed 40 percent of parents mistakenly believed that adult children (ages 21 -24) living at home were covered under their health insurance plans.

“We hope this sends a wake-up call to the tens of thousands of parents who do not realize they may be at great financial risk right after their children graduate,” said James A. Boyle, founder and president of College Parents of America, the only national membership association dedicated to advocating and serving on behalf of current and future college parents.

Some of the survey’s other findings included:

20 percent of parents have no idea when their health insurance will no longer cover their college-age children.

Most believe that short-term health insurance for a healthy young adult costs more than $100/month, when in fact such policies can be obtained for as little as $50/month.

68 percent of the parents were not even aware of the availability of short-term health insurance, which typically offers coverage for periods ranging from one to six months.

“Other studies show that about 40 percent of young adults are uninsured at some time during the year following their graduation,” said David Andrews, Vice President, Product Management, Short Term Medical for Assurant Health. “With college expenses so high, the last thing parents and their children need is to get hit with unexpected medical bills.”

According to Assurant Health data, a climbing accident could result in more than $450,000 in medical expenses, while a case of pneumonia can cost $75,000. One Assurant Health policyholder suffered a spinal cord injury that cost $623,000 to treat, yet paid only $266.40 for six months of short-term coverage.

Assurant Health offered the country’s first Short Term Medical Plan in 1973 and is the leading provider of temporary health insurance. For more information on the company’s other health insurance products and services, please visit www.assuranthealth.com.

The survey was conducted online among a nationally representative sample of college parents in March 2006, and its results carry a 95% confidence with a margin of error of +/- 4 percentage points.
 
About Assurant Health

Assurant Health has been in business since 1892. Assurant Health’s underwriting companies provide health insurance coverage for more than one million people nationwide. The companies’ primary products include individual medical, small group, short-term and student health insurance products, as well as non-insurance products and consumer-choice products such as Health Savings Accounts and Health Reimbursement Arrangements. With almost 3,000 employees, Assurant Health is headquartered in Milwaukee, Wis., and has operations offices in Minnesota, Idaho and Florida, as well as sales offices across the country. Assurant Health is the brand name for products underwritten and issued by one or more of Assurant Health’s underwriting companies – Time Insurance Company, John Alden Life Insurance Company and Union Security Insurance Company. The Assurant Health Web site is www.assuranthealth.com.
 
Assurant Health is part of Assurant, which offers specialized insurance products and related services in North America and selected other markets. Its five key business units – Assurant Employee Benefits, Assurant Health, Assurant Preneed, 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 market segments in the U.S. and selected international markets. Assurant is traded on the New York Stock Exchange under the symbol AIZ. The Assurant Web site is www.assurant.com.

About College Parents of America

College Parents of America is the nation’s only membership organization dedicated to advocating for and providing practical information to parents of current and college-bound students. Based in Arlington, Virginia, it also provides discounts on a broad variety of educational and consumer products to help members save money while their children prepare for, apply to and make the transition to college. The College Parents of America Web site is www.collegeparents.org.

For additional information:
Peter Duckler
312-423-4930
pduckler@hlbcomm.com

Philip Chang
312-423-4924
pchang@hlbcomm.com

January 31, 2006 — In tonight’s State of the Union Address, President George W. Bush is expected to tout Health Savings Accounts (HSAs) as a key element of his ongoing healthcare reform agenda, including provisions that may include raising the annual HSA contribution amount.  The President may also discuss providing tax credits to individuals who purchase Individual Medical insurance coverage.

“The President’s strong support of HSAs reflects the many benefits they are providing to millions of Americans. They are reducing healthcare costs, making healthcare more accessible and putting consumers in charge of their own healthcare decision making and financing,” said Don Hamm, President and CEO of Assurant Health. Assurant Health offered the first HSA and is a leading driver of their growth. 

Hamm also believes the new provisions will encourage many more consumers to purchase their own healthcare coverage. “HSAs have already given consumers powerful new healthcare options. The new proposals will make HSAs even more flexible and affordable—and therefore more attractive to Americans with or without coverage.  We also strongly support tax equity for individuals purchasing their own health insurance.”

A recent survey by America’s Health Insurance Plans (AHIP), “Individual Health Insurance: A Comprehensive Survey of Affordability, Access, and Benefits,” reinforces the many benefits of HSAs. Recent findings show that:

HSAs are gaining momentum.  Preliminary results from a January 2006 survey by AHIP revealed that enrollment in HSA plans has tripled over the last twelve months. More than three million lives now covered by an HSA-qualified high-deductible health plan. 

HSAs have broad appeal.  HSAs are taking hold across all segments of the population. Seventy percent of Assurant Health’s HSA policyholders have been families with children. 61 percent are over the age of 40. 29 percent have household incomes of less than $50,000. And importantly, 44 percent of applicants did not indicate they had prior health insurance coverage. This suggests that HSAs have powerful appeal to those who live without health insurance coverage of any kind. 

HSAs are a valuable financial tool.  HSAs are already providing millions of Americans with a valuable tax-free savings and retirement planning vehicle. The next generation of HSAs will look more like 401(k) retirement accounts. For example, Assurant Health provides online tools that help HSA owners manage account transactions with an integrated, secure website, as well as through a debit card and checkbook. It has recently expanded its offering to allow HSA owners to invest account assets in mutual funds. 

About Assurant Health

Assurant Health has been in business since 1892. Assurant Health’s underwriting companies provide health insurance coverage for more than one million people nationwide. The companies’ primary products include individual medical, small group, short-term and student health insurance products, as well as non-insurance products and consumer-choice products such as Health Savings Accounts and Health Reimbursement Arrangements. With almost 3,000 employees, Assurant Health is headquartered in Milwaukee, Wis., and has operations offices in Minnesota, Idaho and Florida, as well as sales offices across the country. Assurant Health is the brand name for products underwritten and issued by one or more of Assurant Health’s underwriting companies – Time Insurance Company, John Alden Life Insurance Company and Union Security Insurance Company. The Assurant Health Web site is www.assuranthealth.com.
 
Assurant Health is part of Assurant, which offers specialized insurance products and related services in North America and selected other markets. Its five key business units – Assurant Employee Benefits, Assurant Health, Assurant Preneed, 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 market segments in the U.S. and selected international markets. Assurant is traded on the New York Stock Exchange under the symbol AIZ. The Assurant Web site is www.assurant.com.

Editor’s Notes:

To schedule an interview with Don Hamm, Assurant Health’s President and CEO, please contact Peter Duckler at HLB Communications, Inc. at 312/423-4930; pduckler@hlbcomm.com. 
The AHIP report, “Individual Health Insurance:  A Comprehensive Survey of Affordability, Access, and Benefits,” can be found at www.ahipresearch.org.

For Additional Information:

Peter Duckler
312-423-4930
pduckler@hlbcomm.com