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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) has announced a multi-year partnership with Updater, becoming the preferred renters insurance provider in Updater's relocation technology platform. This collaboration aims to streamline the moving process for residents by embedding Assurant's insurance product into Updater's app, enhancing the onboarding experience for property management companies and renters. Assurant’s Cover360® solution will allow residents to seamlessly purchase renters insurance, often bundled with their rent payment, improving customer convenience. The partnership aligns with Assurant's strategic digital initiatives and showcases their commitment to innovation in the multifamily housing sector.
Assurant, a global business services company, has announced a partnership with CNH Industrial Capital to enhance equipment protection products for dealers in the U.S. and Canada. This collaboration aims to improve customer experience and product offerings, providing multiple insurance products such as the Purchased Protection Plan (PPP), Physical Damage Insurance (PDI), and Rental Damage Waiver (RDW). CNH Industrial will deliver an expanded PPP program in Canada. Assurant's expertise in equipment protection will complement CNH Industrial's established presence in the agricultural and construction sectors. This partnership leverages Assurant's capabilities, strengthened by its acquisition of EPG Insurance in 2020, to deliver industry-leading solutions. Overall, this initiative signifies a strategic move to enhance offerings for customers of iconic brands like Case IH and New Holland.
Assurant, Inc. (NYSE: AIZ) will announce its first quarter 2023 financial results on
Assurant, Inc. (NYSE: AIZ) has announced the appointment of Rajiv Basu to its Board of Directors, effective immediately. With 40 years of experience in the financial services sector, notably as a senior partner at Deloitte’s Insurance Practice, Basu brings extensive expertise in insurance and global finance. Assurant's Chair, Elaine D. Rosen, emphasized Basu's commitment to diversity and equity, while CEO Keith Demmings highlighted his ability to support the company's growth strategy. Assurant operates across 21 countries, offering services that connect and protect major consumer purchases.
Assurant, Inc. (NYSE: AIZ) has successfully closed a public offering of
Assurant (NYSE:AIZ) announced a record-breaking
Assurant, a leading global business services company, announced its Q4 and full-year 2022 results, marking a 54% decline in GAAP net income to $276.6 million. Adjusted EBITDA showed a slight decrease of 1% to $956.2 million. Global Lifestyle grew by high single-digits, while Global Housing faced challenges, resulting in a 15% drop in full-year EBITDA. The company projects low single-digit growth for Adjusted EBITDA in 2023, driven by housing performance but tempered by macroeconomic headwinds. Shareholder returns totaled $718 million in 2022, demonstrating a focus on capital return despite the economic landscape.
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