Assurant To Buy Green Tree Insurance Agency From Walter Subsidiary - Quick Facts

(RTTNews) - Assurant Inc. (AIZ) announced it has agreed to acquire Green Tree Insurance Agency, Inc. from a subsidiary of Walter Investment Management Corp. for $125 million with a potential earnout of up to $25 million, based on future performance. The company expects the acquisition will have minimal impact to GAAP earnings in 2017.

Green Tree Insurance Agency sells housing protection products, including voluntary homeowners' and manufactured housing policies, and other insurance products. As of Sept. 30, 2016, Green Tree Insurance Agency and the affiliated entities Assurant is acquiring in the deal reported revenues for the nine months of approximately $31 million.