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Assurant, Inc. - AIZ STOCK NEWS

Welcome to our dedicated page for Assurant news (Ticker: AIZ), a resource for investors and traders seeking the latest updates and insights on Assurant stock.

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.

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Assurant employees globally participated in a 5K run this October, raising over $340,000 for the United Way. This brings the total funds raised since the event's inception to $1.4 million. Over 840 participants engaged, with events held in Atlanta and Miami, along with virtual participation. The funds support United Way efforts in multiple locations, reinforcing Assurant's commitment to community welfare and employee volunteerism.

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Assurant, Inc. (NYSE: AIZ) has announced a quarterly dividend increase of $0.02, raising the total to $0.70 per share. This dividend, marking the 18th consecutive increase since the company's IPO, is set to be paid on December 19, 2022, to shareholders on record as of November 28, 2022. Assurant's CEO, Keith Demmings, emphasized the company's strong business fundamentals and ongoing cash generation capabilities.

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Assurant, Inc. (NYSE: AIZ) has enhanced its Assurant EV One Protection℠ product, specifically designed for U.S. owners of Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs). The updated offering now provides expanded coverage for traction batteries, EV-specific components, wear and tear items, and industry-leading transparency regarding battery health. This product is aimed at providing more value and peace of mind for consumers, enhancing their experience as electric vehicle adoption increases.

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Assurant, Inc. (AIZ) reported disappointing Q3 2022 results with GAAP net income plunging 95% to $7.3 million and adjusted earnings per share at $2.81, an 8% decline. Adjusted EBITDA fell 31% to $116 million, impacted by higher catastrophe losses. Global Lifestyle revenue increased slightly by 1% to $1.99 billion, driven by automotive growth, while Global Housing saw EBITDA turn negative. Looking ahead, Assurant expects adjusted EBITDA to be modestly down or flat, with high single-digit growth in earnings per share. Share repurchases totaled $80 million in the quarter.

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Assurant, Inc. (AIZ) has released preliminary third quarter 2022 results, indicating a decline in profitability due to a challenging macroeconomic environment and elevated catastrophe losses, particularly from Hurricane Ian. Key figures include a GAAP net income of $7 million and adjusted EBITDA of $116 million, down from $169 million year-over-year. The company updated its 2022 outlook, forecasting modestly lower adjusted EBITDA and high single-digit growth in Global Lifestyle. Actions for expense efficiencies are being implemented to improve future profitability.

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Assurant, Inc. (NYSE: AIZ) will release its third quarter 2022 financial results on November 1, 2022, after market close. A conference call will follow on November 2, 2022, at 8:00 a.m. ET, accessible via live audio webcast on the company's website. Key executives, including CEO Keith W. Demmings, will present the results. The archived webcast will be available post-event. Assurant operates in 21 countries, providing services that enhance consumer purchases.

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CPR Cell Phone Repair partners with MobileSentrix to become their primary distributor for aftermarket parts. This collaboration aims to enhance the quality and availability of parts for CPR franchisees, providing them with competitive pricing and higher in-stock rates. Key benefits include a dedicated ordering site, discounted prices, and access to a large catalog of parts from various manufacturers. CPR, rated the top franchise in electronics repair, boasts over 500 locations in North America and is owned by Assurant, Inc. (NYSE: AIZ).

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Assurant, Inc. (NYSE: AIZ) has announced a multiyear extension of its partnership with T-Mobile, enhancing mobile device protection solutions. The collaboration has evolved over ten years, now including device repair services through Assurant's nearly 500 Cell Phone Repair locations. CEO Keith Demmings emphasized their shared commitment to customer experience and innovation. The transition is expected to have a neutral impact on 2022 operating results, with prospects for greater scale in the future.

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Assurant (NYSE:AIZ) reported a significant 34% year-over-year increase in trade-in values, totaling $767 million returned to US consumers in Q2 2022. The average age of smartphones turned in has also risen, reaching 3.51 years for iPhones and 3.62 years for Androids. Notably, the iPhone 11 became the most traded device, representing 35% of top trade-ins. The average trade-in value increased from $123 to $137. Online trades surged by 63% compared to last year, highlighting sustained growth in the secondary device market.

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Assurant (NYSE:AIZ) has entered a strategic partnership with BuyBack Booth, enhancing its trade-in technology for mobile devices. This collaboration introduces self-service kiosks that leverage AI for device diagnostics and assessments. The kiosks are designed for efficiency, allowing consumers to trade in devices seamlessly across various platforms. This partnership aims to bolster customer experience and sustainability in the mobile device ecosystem.

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FAQ

What is the current stock price of Assurant (AIZ)?

The current stock price of Assurant (AIZ) is $212.27 as of December 20, 2024.

What is the market cap of Assurant (AIZ)?

The market cap of Assurant (AIZ) is approximately 10.7B.

What does Assurant, Inc. specialize in?

Assurant specializes in providing specialty protection products and related services, including mobile device protection, extended service products, and various insurance products.

What are the main business segments of Assurant?

Assurant operates through three main segments: Global Housing, Global Lifestyle, and Corporate and Other.

How did Assurant perform financially in recent years?

In 2023, Assurant reported substantial earnings and EPS growth, especially in its Global Housing segment. The company has approximately $30 billion in assets and $8 billion in annual revenue.

What are some recent achievements of Assurant?

Recent achievements include returning a record $4.3 billion to U.S. consumers through mobile device trade-in programs and acquiring the UK tech repair brand iSmash.

What is Assurant's involvement in the secondary device market?

Assurant plays a significant role in the secondary device market through its mobile device trade-in programs, which returned $4.3 billion to U.S. consumers in 2023.

What partnerships has Assurant recently formed?

Assurant has partnered with Lloyds Banking Group to offer mobile and device trade-in services to customers in the UK.

What is the Global Housing segment focused on?

The Global Housing segment provides lender-placed homeowners insurance, voluntary homeowners insurance, flood insurance, and other specialty products.

What is the Global Lifestyle segment's primary focus?

The Global Lifestyle segment focuses on mobile device solutions, vehicle protection, and credit protection.

How does Assurant support innovation?

Assurant supports innovation through targeted investments in talent, technology, and product development, which enhance client partnerships and operational excellence.

Where can I find more information about Assurant's financial performance?

More information about Assurant's financial performance can be found on their Investor Relations website at https://ir.assurant.com/investor/default.aspx.

Assurant, Inc.

NYSE:AIZ

AIZ Rankings

AIZ Stock Data

10.73B
50.97M
0.6%
98.46%
1.78%
Insurance - Property & Casualty
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