Assurant, Inc. · NYSE:AIZ
Assurant — Merger or Acquisition (January 2018)
11 slides from Assurant's merger presentation, Jan 9, 2018
Slide 1: Assurant and The Warranty Group: Transaction Update
Assurant and The Warranty Group: Transaction Update January 9, 2018 Exhibit 99.2
Slide 2: Safe Harbor Statement
Safe Harbor Statement Some of the statements included in this presentation, particularly those with respect to the proposed transaction, the benefits and synergies of the transaction, including operating synergies, the company’s financing plans, future opportunities for the combined company and any
Slide 3: Presenters
Presenters Alan Colberg President & Chief Executive Officer Richard Dziadzio Executive Vice President, Chief Financial Officer & Treasurer
Slide 4: Strategic Value and Financial Benefits
Strategic Value and Financial Benefits Compelling and Unchanged Strategic Alignment Creates a leading global lifestyle provider Enhances scale of vehicle protection, extended service contracts and financial services businesses Extends position in attractive vehicle protection business with new clien
Slide 5: Tax Reform Benefits Assurant, Decision Made to Amend Transaction
Tax Reform Benefits Assurant, Decision Made to Amend Transaction Benefits of U.S. Tax Reform and Remaining U.S. Domiciled U.S. tax reform a positive for Assurant. Based on preliminary review, Assurant expects: Effective tax rate to be reduced to approximately 22%-23% on Assurant current standalone i
Slide 6: Revised Transaction Terms
Revised Transaction Terms Transaction Largely Unchanged Assurant to acquire TWG Holdings Limited(1) and other subsidiaries for Assurant shares and cash Strategic rationale remains compelling Value unchanged at $1.9 billion equity value, or $2.5 billion including The Warranty Group’s debt Revised For
Slide 7: Revised Financing Plan
Revised Financing Plan 10.4 million shares, or about $1.04 billion and ~$860 million in cash based on Assurant’s closing share price of $99.70 as of 1/8/2018 and the collar. Subject to market conditions. Consideration Mix $ billion Equity Consideration $1.0 Cash Consideration 0.9 Total Equity Value(
Slide 8: Transaction Remains Financially Attractive
Transaction Remains Financially Attractive Revised transaction remains modestly accretive to 2018 operating earnings per share on a run-rate basis Accretion measured against higher expected standalone earnings per share for Assurant given net benefits from U.S. tax reform Significantly more accretiv
Slide 9: Creating Shareholder Value
Creating Shareholder Value Transaction remains compelling- strategically, operationally and financially Leading provider in lifestyle businesses delivering operating synergies, scale efficiencies and deepened global footprint for profitable growth Well-positioned to capitalize on growth opportunitie
Slide 10: Appendix
APPENDIX = r~ 0 @ ASSURANT 10
Slide 11: Summary of Key Transaction Terms
Summary of Key Transaction Terms Transaction Assurant to become wholly- owned subsidiary of The Warranty Group which will be renamed Assurant Ltd. Consideration Mix Financing Includes $591 million of The Warranty Group existing debt. Cash consideration subject to a collar adjustment that will increa