Assurant, Inc. is an American insurance provider, based in New York City.
It is publicly traded on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘AIZ’.
The company has an extensive portfolio of insurance products in the health, property, life, and casualty insurance sectors.
It offers its clients: lender-placed insurance; manufactured housing, homeowners insurance; debt protection administration; credit insurance; warranties and extended service contracts; individual health and small employer group health insurance; group dental insurance; group disability insurance; group life insurance; and pre-funded funeral insurance.
The company has four main operating segments:
Health: provides a range of health insurance plans for individuals and small businesses.
Speciality Property: has a portfolio of products and services to help mitigate risk, reduce expenses, build portfolio value and protect property for clients.
Solutions: this segment provides extended service contracts and other risk management solutions.
Employee Benefits: provides disability, dental, term life insurance, and accidental death plans to companies/employers.
It traces its history to the founding of the LaCrosse Mutual Aid Association established in LaCrosse, Wisconsin in 1892, which was formed to provide consumers with disability insurance.
Overview
- President, Director and CEO: Alan B. Colberg
- Industry: Insurance
- Type: Public
- Listed on the New York Stock Exchange (NYSE)
- S&P 500 Component
- NYSE stock symbol: AIZ
- Founded: 1892
- Revenue: $10.381 billion USD (2014)
- Net income: $470,907 million USD (2014)
- Diluted earnings per share: $6.44 USD (2014)
- Company head office: 28 Liberty Street, 41st Floor, New York, NY 10005, USA
- Employees: 17,600 (2014)
- Website: http://www.assurant.com/
- Investor relations contact number: 212-859-7197
- Investor relations email: [email protected]
Assurant, Inc. Financial Results, Years Ended December 31
| Revenues (in $ thousands) | 2014 | 2013 |
| Net earned premiums | $8,632,142 | $7,759,796 |
| Net investment income | $656,429 | $650,296 |
| Net realized gains on investments | $60,813 | $38,912 |
| Fees and other income | $1,033,805 | $586,730 |
| – Total revenues | $10,381,653 | $9,047,657 |
| Benefits, losses and expenses (in $ thousands) | ||
| Policyholder benefits | $4,405,333 | $3,675,532 |
| Amortization of deferred acquisition costs and value of business acquired | $1,485,558 | $1,470,287 |
| Underwriting, general and administrative expenses | $3,688,230 | $3,034,404 |
| Interest expense | $58,395 | $77,735 |
| – Total benefits, losses and expenses | $9,637,516 | $8,257,958 |
| Income data (in $ thousands) | ||
| Net income | $470,907 | $488,907 |
| Total comprehensive income | $599,844 | $85,334 |
| Balance sheet data (in $ thousands) | ||
| Total assets | $31,562,466 | $29,714,689 |
| Total liabilities | $26,381,159 | $24,881,210 |
| Total stockholders’ equity | $5,181,307 | $4,833,479 |
| Common share data (in $) | ||
| Basic earnings per share | $6.52 | $6.38 |
| Diluted earnings per share | $6.44 | $6.30 |
| Cash flow data (in $ thousands) | ||
| Cash provided by operating activities | $393,816 | $1,027,561 |
| Cash used in investing activities | $(63,889) | $(392,738) |
| Cash provided by (used in) financing activities | $(776,199) | $196,699 |
| Cash and cash equivalents at beginning of year | $1,717,184 | $909,404 |
| Cash and cash equivalents at end of year | $1,318,656 | $1,717,184 |
Source: “Assurant Inc. Form 10-K 2014”