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.
CUNA Mutual Group announced an agreement to acquire Assurant's prearranged funeral insurance and final expense business in the U.S. and Canada for approximately $1.3 billion. This acquisition aims to enhance access to financial solutions for middle market consumers, serving over 2 million consumers. The business adds $6.5 billion of face value in-force and is expected to operate autonomously in Rapid City, South Dakota. The deal is set to close by the end of Q3, pending regulatory approvals.
Assurant reported solid financial results for Q4 and FY 2020, showcasing its resilience amid the COVID-19 pandemic. Q4 net income rose to $134.5 million ($2.23/share), up from $122.9 million ($1.98/share) in 2019. For the year, net income increased to $423.1 million ($6.99/share), primarily due to lower charges related to Iké and a one-time tax benefit. However, net operating income dropped to $109.1 million in Q4, reflecting higher reportable catastrophes. Revenues from key segments showed mixed results, with overall net earned premiums reaching $9.52 billion for 2020, a 2% increase from 2019.
Assurant (NYSE: AIZ) has announced a new share repurchase program authorizing up to $600 million of its common stock. This program follows the existing one, which has $186 million remaining. The company's leadership emphasizes strong capital position, with 65% of a $1.35 billion return objective achieved by year-end 2020. Additionally, a quarterly dividend of $0.66 per share of common stock will be paid on March 15, 2021.
Assurant, Inc. (NYSE: AIZ) will announce its Q4 and full year 2020 financial results on February 9, 2021, after market close. A conference call is scheduled for February 10, 2021, at 8:00 a.m. ET to discuss the results with key executives including Alan B. Colberg, CEO. Interested parties can listen to the call via live audio webcast on the company’s website, followed by an archived replay.
Assurant is a global provider of lifestyle and housing solutions, known for its innovative products and services across 21 countries.
Assurant (NYSE: AIZ) has acquired EPG Insurance for $43 million in cash, enhancing its service contract offerings and expanding its presence in the heavy equipment insurance market. EPG has experienced 40% growth in policies since 2018 due to strengthened sales efforts, and this acquisition is expected to further enhance Assurant's capabilities in commercial equipment. The EPG team will continue operations under Assurant, aiming to leverage their expertise for business expansion.
AM Best has assigned a Long-Term Issue Credit Rating of “bbb” to Assurant's recently issued $250 million subordinated notes, with a stable outlook. The proceeds will support Assurant's acquisition of HYLA Mobile and fund general corporate purposes. Financial leverage will remain within guideline limits post-issuance. Assurant's existing Long-Term Issuer Credit Rating of “bbb+” and ratings of its insurance subsidiaries remain unchanged, signaling stable financial health amid the debt issuance.