Assurant buys distributor Green Tree for $125mn

Specialty insurer Assurant has agreed to buy the Green Tree agency
from Walter Investment Management for $125mn in cash.
The deal has a potential earn-out of $25mn, depending on future
performance, the New York based buyer said in a statement
yesterday. The deal is expected to close by the end of March.
Green Tree sells residential policies, including coverage for
manufactured homes, the majority of which are underwritten by
Assurant.
Assurant president and CEO Alan Colberg said: "This
acquisiti