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Home › Phones 4U sells insurance business for USD 160 mln

 

Phones 4U sells insurance business for USD 160 mln

2013-09-05 16:28:00| Telecompaper Headlines

(Telecompaper) UK retailer Phones 4U has agreed to sell its device insurance business for USD 160 million to Assurant. The activities, known as the Lifestyle Services Group, generate around GBP 125 million in annual revenue, providing insurance to over 8 million customers through operators and banks. Assurant is already active in the mobile insurance sector and sees good growth opportunities in Europe. The transaction is subject to regulatory approval and expected to close in the fourth quarter.

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Category:Telecommunications

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