Assurant - AIZ STOCK NEWS

Assurant, Inc. (NYSE: AIZ) announced the formation of a new Management Committee (MCOM) taking effect in January 2022, aimed at enhancing business growth and innovation strategies. The committee includes three new members: Manny Becerra, Biju Nair, and Martin Jenns, who will lead various segments of the company. Keith Demmings, the incoming CEO, emphasized the MCOM's role in driving joint planning and operational effectiveness. The committee will work towards maintaining employee engagement and meeting strategic priorities for stakeholders.

Assurant, Inc. (NYSE: AIZ) is set to disclose its third quarter 2021 financial results on November 2, 2021, after market close. Investors can access the release on Assurant's website. A live audio conference call will take place the following morning, November 3, 2021, at 8:00 a.m. ET, featuring key executives including CEO Alan B. Colberg. The company is recognized for providing essential lifestyle and housing solutions globally, partnering with top brands to enhance customer experiences.

Assurant, Inc. (NYSE: AIZ) announced the retirement of Gene Mergelmeyer, Chief Operating Officer, effective year-end 2021 after 34 years with the company. Keith Meier, currently President of Assurant International, will succeed him as COO on January 1, 2022. The management changes aim to strengthen Assurant’s business strategy and enhance customer experiences globally. The company emphasizes its strong business momentum and commitment to evolving its leadership structure to meet client demands.

Assurant reported a strong second quarter for 2021, with GAAP net income rising 12% to $184.7 million and per diluted share increasing 16% to $3.01. Net operating income surged 19% year-over-year to $183.2 million, and adjusted EBITDA grew 10% to $297.6 million. The company maintains a robust outlook for 2021, projecting a 10-14% growth in net operating income per diluted share. Notably, liquidity stood at $353 million, and share repurchases totaled $233 million. The recent $1.35 billion sale of the Global Preneed business positions Assurant for further investment in growth areas.

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.