Welcome to our dedicated page for Assurant news (Ticker: AIZ), a resource for investors and traders seeking the latest updates and insights on Assurant stock.
Assurant, Inc. operates as a global protection company that partners with brands to safeguard and service connected devices, homes and automobiles. Company news commonly centers on Global Lifestyle and Global Housing results, including mobile device protection, Connected Living trade-in and upgrade programs, extended service contracts, lender-placed homeowners coverage, flood and manufactured housing insurance, and home warranty offerings.
Recurring updates also cover client partnerships with mobile operators, real estate brands and automotive channels; industry reports on the secondary market for mobile devices; quarterly earnings, outlook commentary, catastrophe impacts and capital actions such as share repurchases. These developments reflect Assurant's mix of fee, insurance, warranty and service programs across consumer-device, housing and vehicle-protection markets.
CPR by Assurant, the largest mobile repair franchise in the U.S., has joined Apple's Independent Repair Provider program, enabling access to genuine iPhone parts and specialized repair training for technicians. This enhances CPR's service offerings for iPhone users, ensuring high-quality repairs with certified experts. Additionally, CPR has expanded its mobile repair services and introduced Pocket Geek Home for tech support. With over 850 locations, CPR continues to grow rapidly in the electronics repair market, providing same-day services for various devices.
Assurant, Inc. (NYSE: AIZ) has appointed Manny Becerra as the first Chief Innovation Officer, effective immediately, to enhance innovation in its 'Connected World' businesses. Reporting to the newly appointed President Keith W. Demmings, Becerra will lead a specialized team focused on product development and distribution channels. Biju Nair will succeed Becerra as President of the global Connected Living business. These appointments are seen as pivotal for Assurant's growth strategy, emphasizing innovation and improved customer experience.
Assurant, Inc. (NYSE: AIZ) will release its second quarter 2021 financial results on August 3, 2021, after market close. A conference call will follow on August 4, 2021, at 8:00 a.m. ET, featuring CEO Alan B. Colberg and other executives discussing the results. The call will be accessible via live audio webcast on Assurant's Investor Relations website, with an archived replay available shortly after.
Assurant is a global provider of lifestyle and housing solutions, serving major consumer purchases, and operates in 21 countries.
Assurant (NYSE: AIZ) has announced an investment in Zibo, a financial services platform for independent landlords. This collaboration aims to address industry challenges by offering tools for banking, rent collection, and expense management. Zibo targets 8 million independent landlords in the US, representing a $9 billion addressable market. Assurant Ventures focuses on funding disruptors in the PropTech sector, aligning with its lines of business, including Connected Living and Multifamily Housing.
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Assurant, a global leader in lifestyle and housing solutions, has successfully closed a public offering of $350 million in 2.650% Senior Notes due 2032. After expenses, the net proceeds will be approximately $346.2 million. These funds will be utilized to redeem all outstanding 4.00% Senior Notes due 2023, covering related premiums and fees. J.P. Morgan and Wells Fargo served as joint book-running managers for the offering. This offering was registered under the Securities Act of 1933, and further details can be accessed through the SEC's EDGAR.
Assurant (NYSE: AIZ) announces the appointment of Chandra Wilensky as Senior Vice President of Talent, effective immediately. Previously the Chief Talent Officer at Northern Trust, Wilensky will focus on strategic talent acquisition and development, reporting to Chief Administrative Officer Francesca Luthi. Her role includes overseeing talent strategy, performance management, learning development, and diversity initiatives. With a strong background in HR, Wilensky aims to enhance the company's talent strategies and improve stakeholder experiences, reinforcing Assurant's commitment to a people-first culture.
Assurant (NYSE: AIZ) announces the retirement of Alan B. Colberg as CEO at the end of 2021, after seven years at the helm. Keith W. Demmings has been appointed as President and will succeed Colberg as CEO in January 2022. Under Colberg's leadership, Assurant transitioned from a specialty insurance company to a global provider of lifestyle solutions, achieving significant shareholder value. The company emphasizes a strong future under Demmings, focusing on innovation and meeting evolving consumer needs.
Assurant (NYSE: AIZ) announced a new $900 million share repurchase authorization, supplementing the $731 million remaining from prior authorizations as of April 30, 2021. This buyback aims to utilize funds from the anticipated sale of Global Preneed, expected to close in Q3 2021. Additionally, the company declared a quarterly dividend of $0.66 per share, payable on June 22, 2021. These initiatives reflect Assurant's strong cash flow and commitment to returning capital to shareholders.
Assurant reported robust Q1 2021 results, with net income at $148.5 million or $2.41 per diluted share, a 4% increase from Q1 2020. Net operating income excluding reportable catastrophes rose 13% to $182.3 million, with a per share increase of 16% to $3.03. Adjusted EBITDA grew by 14% to $302.2 million. The company also raised its 2021 outlook for net operating income growth to 10-14%, supported by share repurchases and consistent performance across its Global Automotive and Multifamily Housing sectors. Liquidity stood at $332 million, with significant capital returns underway.