Moody's may downgrade Assurant

Moody's Investors Service said it placed Assurant, Inc.'s Baa1 issuer and senior debt ratings on review for possible downgrade following Assurant's announcement that it placed its chief executive officer, chief financial officer, the chief financial officer of its Assurant Solutions/Assurant Specialty Property business and two other employees on administrative leave in connection with their receipt of Wells notices from the Securities and Exchange Commission.

The Wells notices indicate that the SEC is considering recommending bringing a civil enforcement action against these individuals for violating various provisions of the federal securities laws.

According to the agency, the review will focus on the developments and potential outcomes of the ongoing regulatory investigations, including the possible negative impact on Assurant's management team, business strategy and franchise, and financial position.

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