Assurant, Inc. - AIZ STOCK NEWS

AM Best has affirmed the credit ratings of Assurant, Inc. (NYSE: AIZ) and its subsidiaries. The Financial Strength Rating (FSR) of A+ (Superior) and Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa-" (Superior) were affirmed for Assurant's property/casualty subsidiaries. The Long-Term ICR of "a-" (Excellent) was affirmed for Assurant, Inc. itself. For Assurant's credit and life/health subsidiaries, the FSR of A (Excellent) and Long-Term ICRs of "a" (Excellent) were affirmed.

The ratings reflect Assurant P&C's very strong balance sheet, strong operating performance, favorable business profile, and appropriate enterprise risk management. The company's risk-adjusted capitalization is at the strongest level, supported by very strong earnings power and positive cash flows. Assurant's operating performance benefits from its specialized niche businesses and earnings diversification.

Assurant, Inc. (NYSE: AIZ) has announced that Greystar, a global real estate leader, will implement Assurant® TechPro in select U.S. properties. This innovative amenity provides residents with dedicated technical support for connected devices, marking the first tech support solution specifically designed for multifamily housing. Greystar residents will have 24/7 access to expert tech support via call, chat, or a self-help app.

The partnership aims to enhance resident experience and alleviate the growing burden of tech-related maintenance tickets for property management. Consumer research by Assurant revealed that nearly 20% of residents regularly need tech assistance, highlighting the increasing demand for smart amenities in rental properties. This collaboration builds on the longstanding relationship between Assurant and Greystar in providing premium, innovative solutions for the multifamily industry.

Assurant's Q2 2024 Mobile Trade-In and Upgrade Industry Trends Report reveals significant shifts in consumer behavior and device values. The average age of traded-in mobile devices reached an all-time high of 3.7 years, while the average trade-in value increased by nearly 28% quarter-over-quarter to $141.02. Consumers received an estimated $829M in value from trade-ins.

Key highlights include:

• Android trade-in values rose 37%, Apple devices 20%
• iPhone 11 was the top traded device (31% of top 5)
• Samsung Galaxy S21 remained the top Android trade-in
• iPhone trade-in age increased to 3.8 years, Android decreased to 3.5 years

The report also notes that trade-in programs helped avoid approximately 385,000 metric tons of carbon emissions in Q2 2024.

Assurant (NYSE: AIZ), a global business services company, has announced a quarterly dividend of $0.72 per share of common stock. The dividend will be payable on September 30, 2024 to stockholders of record as of the close of business on September 3, 2024. This decision was made by Assurant's Board of Directors. The company emphasizes that future dividend declarations will be at the board's discretion, considering factors such as earnings, financial condition, capital requirements, future prospects, and regulatory restrictions.

Assurant (NYSE: AIZ) reported strong Q2 2024 results, with GAAP net income up 21% to $188.7 million and Adjusted EBITDA, excluding catastrophes, up 10% to $369.1 million. The company increased its 2024 outlook, now expecting high single-digit growth in Adjusted EBITDA and low double-digit growth in Adjusted EPS, both excluding catastrophes. Key highlights include:

- Global Housing segment showed strong performance, with Adjusted EBITDA ex-catastrophes up 23%
- Global Lifestyle segment saw a 4% decrease in Adjusted EBITDA
- Net earned premiums, fees and other income increased 6% to $2.82 billion
- Company returned $80 million to shareholders via share repurchases and dividends

Assurant's strong performance was attributed to its compelling products and services, as well as new client partnerships and innovative solutions.

Assurant (NYSE: AIZ) has donated $175,000 to Move For Hunger to combat food insecurity across North America. The donation stems from Assurant's Moving to Fight Hunger challenge, which encouraged employees globally to exercise in exchange for donations. The initiative, supported by The Assurant Foundation, saw employees cover over 225,000 miles in May alone.

Move For Hunger, a non-profit organization, partners with moving companies to redirect food waste to local food banks. Assurant's contribution has bolstered these efforts, particularly within the property management sector. Over its 15-year history, Move For Hunger has delivered more than 40 million meals to the food insecure. The collaboration aims to support the 44 million Americans and 7 million Canadians who face hunger daily.

HEVI Corp., a manufacturer of all-electric heavy equipment, has partnered with Assurant, Inc. (NYSE: AIZ) to provide Extended Service Contracts (ESC) for HEVI customers. This partnership allows HEVI to offer protection beyond the manufacturer's base warranty period, enhancing the purchasing and ownership experience for its customers.

Assurant, a global leader in equipment protection with over 30 years of expertise, offers a comprehensive suite of protection products and services for the commercial equipment industry. The collaboration aims to increase customer confidence, potentially boosting sales and building long-term value for HEVI shareholders.

This partnership aligns with both companies' sustainability goals, supporting the expansion of electric heavy equipment in the industrial vehicle sector.

Assurant has been recognized as a Best Place to Work for Disability Inclusion by Disability:IN, scoring 100 on the Disability Equality Index®. This recognition highlights Assurant's commitment to creating an inclusive workplace for people of all abilities. Key initiatives in 2023 include:

1. Launching Abilities@Assurant, an Employee Resource Group focused on disability awareness and inclusion.
2. Offering learning courses on valuing abilities and understanding neurodiversity.
3. Expanding recruitment efforts to reach candidates with disabilities.
4. Updating interview processes to accommodate candidates with disabilities.
5. Supporting mental health awareness and providing resources for veterans.

These efforts demonstrate Assurant's dedication to fostering an inclusive environment where employees of all abilities are supported, understood, and valued.

Assurant (NYSE: AIZ) has unveiled its 2024 Sustainability Report, outlining its long-term ambitions for a Thriving Society, a Circular Economy, and a Stable Climate.

Key initiatives include enhancing employee engagement, supporting career development, and increasing diverse supplier spend by 15% to $115 million. The company also diverted over 4,200 metric tons of electronic waste and avoided around 1.16 million metric tons of CO2 emissions through its mobile trade-in programs.

Additionally, Assurant protected over 60 million mobile devices and provided vehicle protection for 55 million automobiles, with a focus on hybrid and electric vehicles.

The company's efforts earned a “B” rating from CDP for climate change, and it achieved a 5% reduction in Scope 1 and 2 GHG emissions. The full report is available on Assurant's website.