Assurant President And CEO Robert Pollock, CFO Michael Peninger To Retire

(RTTNews) - Assurant, Inc. (AIZ), a provider of specialty insurance and insurance-related products and services, Tuesday announced that its President and Chief Executive Officer Robert Pollock, 59, plans to retire as an officer and director at year-end 2014. Pollock has been with the company for 33 years.

The company also announced the appointment of Christopher Pagano, 50, currently executive vice president, chief investment officer and treasurer, as the Chief Financial Officer, effective August 15. Pagano succeeds Michael Peninger, 59, executive vice president and chief financial officer, who will retire this year after 29 years with the company.

Assurant said its Board of Directors has long had a succession planning process and has commenced a comprehensive search to evaluate both internal and external candidates for the CEO post. Russell Reynolds Associates will assist the Board in identifying Pollock's successor.

The company noted that during Pollock's tenure as CEO, it has embraced new growth areas including mobile protection, multi-family housing and voluntary worksite benefits, expanded in Latin America and strengthened its European operations. Under Pollock, the company grew book value per share at an average annual rate of 11 percent and generated more than $4 billion in operating cash flow.