YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Recfin, 1824 N. Hwy CC, will become part of Assurant’s affiliate, United Services Protection Corp., a vehicle service contract provider. Terms of the transaction were not disclosed.
The Nixa company custom develops off-site, full-service computerized finance and insurance departments for RV dealers that do not have those departments in-house. Assurant’s acquisition includes the rights to the recfin.net and recfin.com dealership finance and insurance operating systems, and finance and insurance training services.
Assurant is a provider of third-party administration services, specialty insurance and extended service contracts.
“Uniting Recfin’s delivery platforms with our vehicle service and insurance programs enables us to offer a virtual (finance and insurance) office to dealers,” said Mike Anderson, senior vice president and head of the Assurant Solutions ARVS business, in a news release.
Recfin will continue to maintain its Nixa office and 25 employees. Recfin President and founder Dennis Hamilton will head the new Assurant RV division and will serve as a vice president of United Services Protection.
Recfin was founded in 2002 and averages $2 million in annual gross revenue. Assurant has more than $20 billion in assets and $7 billion in annual revenue. Shares of Assurant (NYSE: AIZ) closed Jan. 4 at $44.67, compared to a 52-week range of $29.70 to $45.03.
This story originally appeared in SBJ’s Jan. 5 e-news Daily Update. Click here to register.[[In-content Ad]]
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