Assurant, Inc. - AIZ STOCK NEWS

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.

Assurant (NYSE: AIZ) announced that its corporate venture capital arm, Assurant Ventures, has surpassed $100 million in capital deployment since its inception in 2015. The fund, previously known as Assurant Growth Investing, is focused on supporting disruptive technology startups across various consumer sectors. Assurant Ventures has invested in over 20 startups, including Cazoo, Doma, Vacasa, SmartRent, and PrecisionLender. The initiative aims to foster innovation and provide growth opportunities for emerging companies within Assurant's ecosystem.

Assurant (NYSE: AIZ) has successfully repurposed its 100 millionth mobile device, showcasing its commitment to sustainability. This achievement reflects operations from both Assurant and its acquisition, HYLA Mobile. The company’s practices have diverted over 20,000 metric tons of e-waste and offset 5.5 million metric tons of CO2 emissions, enhancing connectivity for millions. In 2020, Assurant recycled 1.5 million phones, recovering valuable metals and injecting approximately $11 billion into the global economy through device trade-ins.

Assurant, Inc. (NYSE: AIZ) announced a shift in its financial reporting, focusing on its Global Lifestyle and Global Housing businesses. Following the sale of its Global Preneed business, the financial statements will reflect these operations as discontinued. Starting Q1 2021, Assurant will introduce a new performance metric, Adjusted EBITDA, to enhance financial insights, emphasizing its pivot towards service-oriented business models. An updated financial supplement reflecting these changes is available ahead of the Q1 2021 results set for May 4, 2021.

Assurant, Inc. (NYSE: AIZ) is set to release its first quarter 2021 financial results on May 4, 2021, post-market close. A conference call to discuss these results will occur the next day at 8:00 a.m. ET. Key executives, including CEO Alan B. Colberg and CFO Richard S. Dziadzio, will present the findings during the call, which will be accessible via a live audio webcast. Assurant operates globally, providing a wide range of services such as mobile device solutions, vehicle protection, and renters insurance, among others.

Assurant, Inc. (NYSE:AIZ) has released its 2021 Social Responsibility Report, highlighting its commitment to sustainable practices through various environmental, social, and governance (ESG) initiatives. Key focus areas include fostering diverse and inclusive workplaces, enhancing product sustainability, and reducing carbon emissions. The report outlines significant accomplishments such as a multi-step pay equity initiative, increased hourly wages for U.S. workers, and substantial community support through donations. The company aims to align its ESG strategies with long-term business goals while minimizing its environmental impact.