The financial services company Fortis, Inc., of New York, announced Monday that it had merged two subsidiaries into a new credit life insurance powerhouse called Assurant Group.

The new company combines American Security Group, of Atlanta and American Bankers Insurance Group, of Miami. Assurant Group has a new leadership team under the direction of Edward J. O'Hare, a Fortis executive vice president.

Announcement of the changes follows the The changes follow completion of Fortis' acquisition of American Bankers last week.

The new company is headquartered in Atlanta and Miami and has 4,500 employees and $3.6 billion in annual premiums.

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