Milwaukee-based Assurant Health has closed on the sale of specific business lines and assets from its health insurance business to National General Holdings Corp., effective immediately.
Assurant first disclosed plans to sell business lines and assets to National General Holdings Corp. in June. At that time, Assurant also announced it will exit the health insurance market by the end of 2016.
Under the agreement, National General Holdings Corp. acquired Assurant's supplemental and small group self-funded product lines, a proprietary small group sales channel and certain assets for $14 million in cash.
National General Holdings Corp. has hired approximately 165 employees from Assurant to support the endeavor.