Assurant Stock Price, News & Analysis

Assurant (NYSE: AIZ) has been recognized on Newsweek's America's Most Responsible Companies 2025 list for the second consecutive year. The recognition, presented in collaboration with Statista, reflects the company's commitment to corporate responsibility and sustainability.

The ranking is based on over 30 Key Performance Indicators across three Corporate Social Responsibility (CSR) pillars and includes CSR reputation derived from public perception surveys among U.S. residents. Keith Demmings, president and CEO, emphasized the company's dedication to sustainability and responsible business practices, highlighting their mission to improve lives and advance a connected, respected, and protected world.

Assurant (NYSE: AIZ) reported that mobile device trade-in programs returned $1.09 billion to consumers in Q3 2024, marking the first-ever third-quarter to exceed $1 billion in returns. The iPhone 13 became the most traded-in device, representing 23.2% of top five trade-ins, while the Galaxy S22 Ultra 5G led Android trade-ins. The average age of traded devices decreased for the first time in 2024, with iPhones averaging 3.69 years and Android devices 3.38 years at trade-in. Notably, 5G devices became the top traded models across both Android and Apple platforms.

Assurant (NYSE: AIZ) has appointed Kevin Warren, former chief marketing and customer experience officer at UPS, to its Board of Directors, effective January 15, 2025. Warren will serve on the company's Compensation and Talent committee. He brings extensive experience from UPS and Xerox in customer experience, supply chain management, digital enablement, and strategic growth initiatives. Warren currently serves on Fiserv's Board of Directors. The announcement also includes the planned departures of Board members Lawrence Jackson and Paget Alves, with Jackson retiring at the 2025 annual shareholder meeting and Alves leaving on January 15, 2025, to become CEO of Sorensen.

Assurant (NYSE: AIZ) has announced an 11% increase in its quarterly dividend, raising it by $0.08 to $0.80 per share of common stock. The dividend will be paid on December 30, 2024, to stockholders of record as of December 9, 2024. This marks the company's 20th consecutive year of dividend increases since its IPO. CFO Keith Meier emphasized that this increase reflects Assurant's strong capital position and confidence in long-term cash generation from their Global Lifestyle and Global Housing businesses.

Assurant (NYSE: AIZ) has been named to Forbes' America's Best Employers for Veterans 2024 list. The recognition follows an independent survey of over 24,000 U.S. veterans, evaluating factors including workplace atmosphere, development opportunities, working conditions, and veteran-specific topics. The company was among 150 organizations recognized for their commitment to veterans' employment and success.

Through its Veterans@Assurant Employee Resource Group, the company focuses on attracting and developing veteran talent. Recently, Assurant demonstrated its commitment to veterans by donating its fourth mobility-modified vehicle to U.S. Army veteran Stephanie Johnson through a partnership with Wounded Warriors Family Support.

Assurant (NYSE: AIZ) reported Q3 2024 results with GAAP net income of $133.8 million, down 30% year-over-year, while Adjusted EBITDA excluding catastrophes increased 8% to $385.1 million. The company increased its 2024 outlook, now expecting low double-digit growth in Adjusted EBITDA and mid- to high-teens growth in Adjusted EPS, both excluding catastrophes. Global Housing showed strong performance with growing revenues, while Global Lifestyle performed as expected. The company plans to return $300 million in share repurchases in 2024.

Assurant (NYSE: AIZ) has launched a new Heavy Truck Extended Service Contract for Class 8 trucks, offering comprehensive coverage options including roadside assistance and towing. The protection solution features flexible terms, broad eligibility for trucks up to 15 model years old and one million miles, and multiple deductible options. Key benefits include emergency travel expense reimbursement, servicing at any licensed repair facility, no component-based liability limits, and no labor rate caps. The service contract is part of Assurant's growing suite of products supporting heavy truck dealers, which includes Physical Damage Insurance, Non-Trucking Liability, and GAP Protection.

Assurant (NYSE:AIZ) and Wounded Warriors Family Support (WWFS) presented U.S. Army veteran Stephanie Johnson with a specially modified 2024 Chevy Tahoe SUV on October 28, 2024. The vehicle, featuring an Electronic Left Foot Accelerator, was presented through WWFS's Mobility is Freedom program, which has been providing modified vehicles to combat-wounded veterans since 2015.

Johnson, who suffered injuries from rocket-propelled grenades in Afghanistan in 2012, underwent a below-knee amputation in 2016 after a lengthy recovery at Walter Reed National Military Medical Center. This marks the fourth mobility-modified vehicle presented through Assurant's partnership with WWFS, addressing the needs of approximately 350 veterans requiring modified vehicles due to combat-related injuries.

Assurant has officially opened its new Innovation and Device Care Center in Mt. Juliet, Tennessee, near Nashville. The 259,000-square-foot facility, double the size of its previous location, will serve as a key hub for Assurant's Device Lifecycle Solutions business. In 2023, this division repurposed 22 million devices, avoiding approximately 495,000 metric tons of carbon emissions.

The new center employs about 800 people who process, test, and refurbish connected devices. It features advanced technologies, including automation, robotics, AI, and machine learning, to enhance operational efficiency and support the global secondary device market. The facility currently services virtually every mobile device brand and model for a wide range of clients.

To mark the opening, the Assurant Foundation has awarded a $100,000 grant to Middle Tennessee State University to support the construction of a new Assurant Engineering Innovation Lab and expand their partnership with the university's Mechatronics Engineering program.