New York-based Assurant Inc. said Monday it bought Safeco Financial Institution Solutions Inc., a Santa Ana-based unit of Safeco Corp.
Terms of the deal weren’t disclosed.
The unit has about 600 workers. It has Orange County operations in Santa Ana and Tustin, as well as a servicing division in Indianapolis.
Safeco Financial Institution Solutions unit provides specialty homeowners insurance and tracking services for mortgage lenders and servicers.
The Safeco unit, which produces about $140 million in annual premiums, is expected to become part of Assurant’s special property operation.
Safeco bought the business in 2001 from Bermuda’s ACE Ltd.
