Assurant Stock Price, News & Analysis

Assurant, Inc. (NYSE: AIZ) has successfully closed a public offering of $175.0 million in 6.100% Senior Notes due 2026. The net proceeds from this offering will be approximately $173.1 million, aimed at redeeming $175.0 million of its 4.200% Senior Notes due 2023. J.P. Morgan Securities LLC and Wells Fargo Securities, LLC acted as joint book-running managers. The offering follows an effective shelf registration statement filed with the U.S. Securities and Exchange Commission for compliance. Assurant focuses on supporting and connecting consumer purchases globally.

Assurant (NYSE:AIZ) announced a record-breaking $3.8 billion returned to U.S. consumers through mobile device trade-in programs in 2022, a 25% increase compared to 2021. Q4 2022 alone accounted for $1.28 billion, marking the highest quarter ever for trade-ins. The demand for trade-ins was driven by the sustained value of used smartphones, with the iPhone 11 being the most traded device. The trend is expected to continue, with forecasts predicting 415 million used smartphones to be shipped globally by 2026. Additionally, consumer interest in online trades surged by 38% year-over-year.

Assurant, a leading global business services company, announced its Q4 and full-year 2022 results, marking a 54% decline in GAAP net income to $276.6 million. Adjusted EBITDA showed a slight decrease of 1% to $956.2 million. Global Lifestyle grew by high single-digits, while Global Housing faced challenges, resulting in a 15% drop in full-year EBITDA. The company projects low single-digit growth for Adjusted EBITDA in 2023, driven by housing performance but tempered by macroeconomic headwinds. Shareholder returns totaled $718 million in 2022, demonstrating a focus on capital return despite the economic landscape.

Assurant, Inc. (NYSE: AIZ) has achieved Great Place to Work Certification™ in the U.S. for the second consecutive year, with 84% of employees affirming it as a great workplace, significantly higher than the U.S. average. This recognition highlights Assurant's commitment to employee experience, fostering an inclusive and innovative culture. Globally, the company is certified in 13 countries. The certification, based on independent employee feedback, indicates strong employee retention and satisfaction, which could positively influence company performance and innovation.

Assurant (NYSE: AIZ) has announced a partnership with Altelium to enhance electric vehicle (EV) services. This collaboration combines real-time battery data with advanced modeling and AI, enabling Assurant to offer innovative products like Assurant EV One Protection℠. This service provides extensive coverage for battery repair and replacement for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). The partnership aims to bolster dealer and consumer confidence in EVs while supporting sustainable automotive practices. The introduction of AI-driven insights will enhance customer experiences and promote the adoption of EVs.

Assurant, Inc. (NYSE: AIZ) announces the launch of Assurant Vehicle Care, a new suite of vehicle protection products aimed at dealerships. This suite includes enhanced offerings such as Vehicle Service Contracts, Dealer Certified Limited Warranties, Prepaid Maintenance, and Theft Protection, among others. The product suite is designed to streamline sales and improve customer experience through digital platforms, including the Vehicle Care by Assurant app and VehicleCarePlan.com. Additionally, inflation-optimized pricing enhances product viability. The initiative reflects Assurant's commitment to innovation in the automotive sector and aims to strengthen dealer revenue and customer loyalty.

Assurant, Inc. (NYSE: AIZ) has announced a quarterly dividend of $0.70 per share, payable on March 20, 2023, to shareholders on record as of February 27, 2023. Future dividends will depend on the company's earnings, financial condition, and other factors determined by the Board of Directors. Assurant operates globally across 21 countries, focusing on consumer protection and service solutions, including mobile device protection and specialty insurance products.

Guidewire and Assurant have partnered to enhance the insurance verification process through the Guidewire PartnerConnect program. Assurant's Carrier Direct Endorsement and HOIVerify solutions aim to automate homeowners insurance verification and expedite claim check endorsements. The goal of this collaboration is to streamline data exchange, saving time and effort for insurers and improving customer experience. Guidewire claims it supports over 500 insurers globally, indicating a significant market presence.

CPR Cell Phone Repair, the largest mobile repair franchise in the U.S., has been ranked first in Entrepreneur magazine's Franchise 500 for electronics repair for the second consecutive year. This ranking is based on an analysis of over 150 data points reflecting the franchise's growth, brand power, and financial strength. CPR has enhanced its services, partnering with T-Mobile's device repair program and MobileSentrix for competitive pricing. With over 440 locations, CPR has solidified its leadership in the electronics repair industry.