Benzinga  May 13  Comment 
Assurant, Inc. (NYSE: AIZ), revealed that its Board of Directors declared a quarterly dividend of $0.50 per share of its common stock. On an annualized basis, this would translate into $2.00 a share. The latest dividend represented 34.0% of the...
Insurance Journal  Apr 26  Comment 
Nationwide will start winding down its status this May as a “Write Your Own” carrier within the federal government’s National Flood Insurance Program. Assurant said it formed an agreement with the insurer to fill the gap. Nationwide said it...
Insurance Journal  Apr 26  Comment 
Assurant, Inc. has appointed Ajay Waghray to the role of chief technology officer and to the company’s management committee, effective May 9, 2016. In this newly created role, Waghray will drive technology strategy and align IT with business...
Benzinga  Apr 20  Comment 
Assurant, Inc. (NYSE: AIZ) disclosed the hiring of Ajay Waghray as its Chief Technology Officer effective May 9. He would also be entrusted a role in the management committee also. He would drive technology tactics and align its IT with business...
newratings.com  Apr 13  Comment 
WASHINGTON (dpa-AFX) - Assurant Inc (AIZ) reported a profit for its first quarter that increased from last year. The company said its bottom line rose to $220.32 million, or $3.34 per share. This was higher than $50.04 million, or $0.71 per...
Insurance Journal  Feb 25  Comment 
Lockton’s Mountain West operation in Denver, Colo. named Greg Winter as an employee benefits producer. Prior to Lockton Winter was responsible for developing and maintaining broker relationships in Colorado and New Mexico for Assurant Employee...
Motley Fool  Feb 10  Comment 
Specialty insurance solutions provider Assurant takes a tumble after disappointing fourth-quarter results. Is this weakness a buying opportunity?


Headquartered in New York's financial district, Assurant, Inc. is a premier provider of specialized insurance products in North America and selected other markets. The company operates through main business segments: Assurant Solutions (35.0% of 2006 revenue), Assurant Specialty Property (17.8%), Assurant Health (26.1%), and Assurant Employee Benefits (15.0%) Assurant's business units provide creditor-placed homeowners' insurance, manufactured housing homeowners' insurance, debt protection administration, credit insurance, warranties and extended service contracts, individual health and small employer group health insurance, group dental insurance, group disability insurance, group life insurance, and pre-funded funeral insurance. Assurant's strategy is to manage a select portfolio of specialty businesses that are leaders in their markets. The company completed its IPO on February 5, 2004, offering 80,000,000 shares of its common stock at $22.00 per share. Effective in 2Q06, the company has separated its Assurant Solutions into two businesses Assurant Specialty Property and Assurant Solutions. Concurrently, the Company has realigned the Preneed segment under the new Assurant Solutions segment, as the franchise was sold in 2005 and premiums continue to decline.

Image:AIZ_Revenue.png Image:AIZ_Net_Earned_Premiums.png

Trends and Forces

  • Market conditions and interest rates affect the value of Assurant’s investment portfolio. Like many insurance companies, Assurant invests a portion of the premiums that it collects. Market volatility may increase the amount of unrealized gains or losses, making returns on investment hard to predict. Since its securities are traded on the market, a decline in the security’s value will be reflected on its balance sheet. Exposure to troubled markets may also hurt its investment performance: For the year ending 2007, 7% of its portfolio was composed of mortgage-backed securities. Uncertain returns on investment also make it difficult to set premium rates, resulting in a loss of business to competitors, or a decrease in earnings.
  • Pandemics, natural disasters, and other large-scale disasters could affect Assurant’s profitability. Such events could result in an increase in claims for its homeowner’s and life insurance businesses, which account for 87% of its earned premiums. Depending on how severe the disaster is, Assurant may also be unable to resume operations in such locations. For the year ending 2007, 39% of its policyholders lived in either California, Texas, or Florida, all three of which are prone to natural disasters.


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