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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, 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.
Assurant, Inc. (NYSE: AIZ) has achieved Great Place to Work Certification™ in the U.S. for the second consecutive year, with 84% of employees affirming it as a great workplace, significantly higher than the U.S. average. This recognition highlights Assurant's commitment to employee experience, fostering an inclusive and innovative culture. Globally, the company is certified in 13 countries. The certification, based on independent employee feedback, indicates strong employee retention and satisfaction, which could positively influence company performance and innovation.
Assurant (NYSE: AIZ) has announced a partnership with Altelium to enhance electric vehicle (EV) services. This collaboration combines real-time battery data with advanced modeling and AI, enabling Assurant to offer innovative products like Assurant EV One Protection℠. This service provides extensive coverage for battery repair and replacement for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). The partnership aims to bolster dealer and consumer confidence in EVs while supporting sustainable automotive practices. The introduction of AI-driven insights will enhance customer experiences and promote the adoption of EVs.
Assurant, Inc. (NYSE: AIZ) announces the launch of Assurant Vehicle Care, a new suite of vehicle protection products aimed at dealerships. This suite includes enhanced offerings such as Vehicle Service Contracts, Dealer Certified Limited Warranties, Prepaid Maintenance, and Theft Protection, among others. The product suite is designed to streamline sales and improve customer experience through digital platforms, including the Vehicle Care by Assurant app and VehicleCarePlan.com. Additionally, inflation-optimized pricing enhances product viability. The initiative reflects Assurant's commitment to innovation in the automotive sector and aims to strengthen dealer revenue and customer loyalty.
Assurant, Inc. (NYSE: AIZ) has announced a quarterly dividend of $0.70 per share, payable on March 20, 2023, to shareholders on record as of February 27, 2023. Future dividends will depend on the company's earnings, financial condition, and other factors determined by the Board of Directors. Assurant operates globally across 21 countries, focusing on consumer protection and service solutions, including mobile device protection and specialty insurance products.
Guidewire and Assurant have partnered to enhance the insurance verification process through the Guidewire PartnerConnect program. Assurant's Carrier Direct Endorsement and HOIVerify solutions aim to automate homeowners insurance verification and expedite claim check endorsements. The goal of this collaboration is to streamline data exchange, saving time and effort for insurers and improving customer experience. Guidewire claims it supports over 500 insurers globally, indicating a significant market presence.
CPR Cell Phone Repair, the largest mobile repair franchise in the U.S., has been ranked first in Entrepreneur magazine's Franchise 500 for electronics repair for the second consecutive year. This ranking is based on an analysis of over 150 data points reflecting the franchise's growth, brand power, and financial strength. CPR has enhanced its services, partnering with T-Mobile's device repair program and MobileSentrix for competitive pricing. With over 440 locations, CPR has solidified its leadership in the electronics repair industry.
Assurant, Inc. (NYSE: AIZ) will release its fourth quarter and full year 2022 financial results on February 7, 2023, after market close. A conference call will follow on February 8, 2023, at 8:00 a.m. ET, where key executives, including CEO Keith W. Demmings and CFO Richard S. Dziadzio, will discuss the results. The live audio webcast will be available on Assurant's Investor Relations website, with an archived replay accessible shortly after the live event. Assurant operates in 21 countries, offering services such as mobile device solutions, vehicle protection, and renters insurance.
Assurant, Inc. (NYSE: AIZ) announced its target to reduce greenhouse gas emissions by 40% by 2030, aligning with the Paris Agreement and the Science-based Targets initiative. This goal is part of their commitment to sustainability, supported by their real estate consolidation and energy-saving measures across 21 countries. Assurant retained a ‘B’ CDP score for five consecutive years, indicating strong environmental transparency. In 2021, the company achieved a 10% decline in Scope 2 emissions, indicating progress in reducing its environmental impact.
Assurant (NYSE:AIZ) reported a record
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