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Assurant (NYSE:AIZ) reported that mobile trade-in programs returned $874 million to U.S. consumers in Q1 2024, according to their latest Mobile Trade-In and Upgrade Industry Trends Report. The average age of devices at trade-in reached an all-time high of 3.64 years. iPhone 12 models dominated recent trade-ins, with the iPhone 11 being the top device turned in for the eighth consecutive quarter. Overall, the average trade-in value of smartphones decreased from $147 in Q4 2023 to $110 in Q1 2024. Additionally, the average trade-in value for the latest Apple Watch, Ultra 2, was $317. Assurant noted that while trade-ins typically dip after peak shopping seasons, they remain vital for encouraging device upgrades and reducing electronic waste.
Assurant's Board of Directors announced a quarterly dividend of $0.72 per common share, payable on June 24, 2024, to shareholders of record as of June 10, 2024. The future declaration of dividends will be at the Board’s discretion, influenced by the company’s earnings, financial health, capital needs, future prospects, regulatory constraints, and other relevant factors. Assurant (NYSE: AIZ) is a global business services firm specializing in supporting, protecting, and connecting major consumer purchases.
Assurant (NYSE: AIZ), a leading global business services company, has been named to the Forbes Best Employers for Diversity 2024 list for the fifth year in a row. This accolade, presented by Forbes and Statista Inc., is based on an independent survey of over 170,000 U.S. employees working at companies with at least 1,000 employees. The survey evaluated personal and public recommendations on diversity aspects such as age, gender, ethnicity, disability, and LGBTQIA+. Additionally, the company was assessed on key diversity-related practices. Assurant's CEO, Keith Demmings, emphasized the importance of diversity, equity, and inclusion as essential to the company's values and success.
Assurant (NYSE: AIZ) has introduced Assurant® TechPro, the first tech support solution tailored for the multifamily housing industry. This service provides property managers and residents with expert tech support via call or chat, aiming to reduce tech-related maintenance issues. The offering includes an innovative app with 24/7 self-help content for residents. Assurant's research indicates that 20% of maintenance calls are tech-related, and 86% of renters believe integrating tech support would enhance property management companies' brand perception. The service aims to meet the increasing demand for smart tech support in rental properties, helping property managers stand out and potentially drive revenue.
Assurant, Inc. (NYSE: AIZ) reported strong first-quarter financial results in 2024, with significant increases in earnings and EPS led by Global Housing and Global Lifestyle businesses. The company remains confident in achieving its financial objectives for the year, focusing on growth, innovation, and shareholder value creation. Adjusted EBITDA, excluding catastrophes, increased by 31%, with Global Housing showing remarkable growth. Assurant returned $77 million to shareholders and expects mid-single-digit growth in Adjusted EBITDA for 2024.
