RTTNews | May 18, 2021 08:35AM EDT

08:35 Tuesday, May 18, 2021 (RTTNews.com) - Lifestyle and housing solutions firm Assurant, Inc. (AIZ) announced Tuesday that President and CEO Alan Colberg plans to retire at the end of 2021 after leading the company for the last seven years. Keith Demmings has been appointed President of Assurant, effective immediately, and has been named to succeed Colberg as CEO and Director in January 2022.

Since 2016, Demmings currently leads Assurant's largest business segment, Global Lifestyle, which includes the company's global operations. As President, Demmings will have oversight for all of Assurant's Housing and Lifestyle businesses, which will report directly to him.

Demmings joined Assurant as a sales intern in Toronto in 1997 and progressed to eventually became the president of the Assurant's Canadian business in 2005.

Over his 24 years with the company, Demmings has assumed increasing levels of responsibility across Assurant's global enterprise, including President, Assurant Canada, leadership of the company's international business and overseeing Global Lifestyle.

Before joining Assurant in March 2011, Colberg was a consultant for Bain & Co., Inc., for 22 years, serving as an advisor to Assurant during much of this time. Colberg also served on the board of directors for CarMax (KMX) from 2015-2018.

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