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Assurant, Inc. (NYSE: AIZ) is a leading global business services company that specializes in providing specialty protection products and related services. As a Fortune 500 company, Assurant works with industry leaders to help consumers gain financial security and peace of mind by safeguarding against various risks. The company's extensive portfolio includes mobile device protection, extended service products for consumer electronics, appliances, and vehicles, pre-funded funeral insurance, lender-placed homeowners insurance, flood insurance, renters insurance, credit insurance, and numerous group insurance products, including dental, disability, and life insurance.
Assurant operates through three main segments: Global Housing, Global Lifestyle, and Corporate and Other. The Global Housing segment offers products like lender-placed homeowners insurance, voluntary homeowners insurance, and other specialty products. The Global Lifestyle segment, which is the key revenue generator, focuses on mobile device solutions, vehicle protection, and credit protection. The Corporate and Other segment includes various administrative and support functions.
In recent years, Assurant has achieved significant milestones and continued growth across its business lines. For instance, in 2023, the company reported substantial earnings and EPS growth, driven largely by its Global Housing segment. The company also returned a record $4.3 billion to U.S. consumers through mobile device trade-in programs, emphasizing its role in the burgeoning secondary device market.
Assurant's ongoing projects include the integration of acquired businesses like iSmash, a leading UK tech repair brand, which strengthens its capabilities in mobile device solutions. Additionally, the company has partnered with Lloyds Banking Group to offer mobile and device trade-in services, further expanding its reach in the European market.
Financially, Assurant remains robust, with approximately $30 billion in assets and $8 billion in annual revenue. The company's strategic focus on innovation, operational excellence, and maintaining strong client relationships has positioned it well for continued growth and shareholder value creation.
Assurant (NYSE: AIZ) announced the sale of its Global Preneed funeral insurance and final expense business to CUNA Mutual Group for approximately $1.35 billion in cash. This transaction will generate around $1.2 billion in net proceeds, with plans to return $900 million to shareholders through buybacks within a year. Additionally, the remainder will be invested in connected world businesses to support long-term growth. This strategic move is part of Assurant's focus on lifestyle and housing solutions, enhancing its competitive position in the market.
Assurant (NYSE: AIZ) reveals insights from its 2021 Connected Decade survey, highlighting an increase in consumer reliance on connected devices due to the pandemic. Key findings show 60% of consumers are now focused on protecting their devices, a rise from 49% in 2020. Preferences for quick device repairs surged by 120%, and 36% are keen to upgrade to 5G, up from 25% in 2019. Challenges with connected products also grew, with 46% reporting issues, while interest in value-added services, such as tech support, increased by 70%.
Assurant, Inc. (NYSE: AIZ) announced a quarterly dividend of $0.66 per share, set for payment on September 21, 2021, to stockholders of record as of August 30, 2021. Future dividends will depend on the company’s earnings and financial condition. Assurant is a global provider of lifestyle and housing solutions, operating in 21 countries, offering various services including mobile device solutions, vehicle protection, and insurance products. The company focuses on developing innovative products in response to consumer needs.
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.
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.
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