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Assurant

Assurant’s housing segment to shoulder $110m Q3 cat losses

16th October 2020

US specialty insurance group Assurant expects to record roughly $110 million pre-tax, or $87 million after-tax, of catastrophes losses in its global housing segment for third quarter 2020. Nearly half of the losses were related to hurricane Laura, with the balance primarily related to claims from Sally and Isaias and the ... Read the full article

Assurant’s net income jumps 24%; non-cat loss experience favourable in Q2

6th August 2020

Assurant, Inc., a leading global provider of lifestyle and housing solutions, recorded a 24% increase in net income in the second-quarter of 2020 to $173.5 million, as its Global Housing segment reported improved profitability. Despite the improvement, the company's net income was somewhat offset by both direct and incremental expenses incurred ... Read the full article

Assurant names Chief Administrative & Legal Officers

17th July 2020

US specialty insurance group Assurant, Inc. has announced the appointments of Francesca Luthi as Chief Administrative Officer and Jay Rosenblum as Chief Legal Officer. Luthi will assume responsibility for Human Resources, Real Estate, Facilities and Procurement while retaining leadership for Assurant’s global Marketing and Insights, Communications, Investor Relations and Corporate Social ... Read the full article

Former T-Mobile CFO Braxton Carter joins Assurant’s Board of Directors

7th July 2020

J. Braxton Carter, former Executive Vice President (EVP) and Chief Financial Officer (CFO) for T-Mobile US, Inc., has joined Assurant, Inc.'s Board of Directors, serving on the Board's Audit Committee. While at T-Mobile, Carter led the financial organisation for almost a decade, until his retirement from the firm on July 1st, ... Read the full article

Assurant gets more multi-year coverage at reinsurance renewal

30th June 2020

US specialty insurance group Assurant, Inc. has shrunk the size of its overall reinsurance tower limit by $230 million for 2020 as it exited underperforming businesses. The U.S. Program of Assurant's 2020 property catastrophe reinsurance program provides $930 million of coverage in excess of a $80 million retention per-event with a ... Read the full article

Assurant appoints Paul Cosgrove as President for Canada

3rd January 2020

US specialty insurance group Assurant has announced the appointment of Paul Cosgrove as President of its Canadian operations, effective immediately. Cosgrove, who formerly served as Vice President, Business Development and Client Management, will succeed Robert Zanussi, who is retiring from the role after 16 years with Assurant. Zanussi is set to continue ... Read the full article

Assurant adds Paget Alves, Ogi Redzic to board

12th November 2019

US specialty insurance group Assurant has appointed Paget Alves and Ogi Redzic to its board of directors. A retired Chief Sales Officer at Sprint Corporation, Alves led 17,000 employees between the company’s consumer and business sales channels. Earlier in his career Alves also served as president and Chief Executive Officer of PointOne ... Read the full article

Assurant falls to Q3 loss despite lower cat impact

6th November 2019

US specialty insurance group Assurant has posted a net loss of $59.5 million for the third quarter of 2019, despite a much smaller impact from catastrophe losses on its Global Housing segment. Assurant’s earnings were down from $48.3 million in Q3 2018, primarily due to charges related to the $124.8 million ... Read the full article

Dorian drives $46mn of cat losses for Assurant in Q3

24th October 2019

US specialty insurance group Assurant has announced that it expects to record approximately USD 46 million pre-tax (USD 36 million after-tax) of catastrophe losses for the third-quarter of 2019, mainly driven by the impacts of Hurricane Dorian. Assurant states that the majority of its Q3 catastrophe hit is expected in its ... Read the full article

Assurant net income growth bolstered by TWG acquisition

7th August 2019

US specialty insurance group Assurant has recorded a Q2 net income of $139.5 million, representing a $77.3 million year-over-year increase. The increase was primarily down to growth within Global Lifestyle, including contributions from the recently-acquired The Warranty Group (TWG), as well as higher net realised gains on investments and lower net ... Read the full article

Assurant expands 2019 reinsurance program, cuts retention by $40m

9th July 2019

US specialty insurance group Assurant has expanded its 2019 property catastrophe reinsurance program, while reducing its per-event retention from $120 million in 2018 to $80 million. The U.S. Program provides $1.16 billion of coverage in excess of a $80 million retention per-event with a projected probable maximum loss (PML) of approximately ... Read the full article

Assurant reports improved results across all segments in the first-quarter

7th May 2019

Assurant, Inc. recorded improved net income of $161 million in the first-quarter of 2019, with higher earnings reported across its business segments. Net operating income of $140.6 million improved 31% in Q1 2019 when compared with the same period in 2018, and excluding reportable catastrophes improved by 30%, to $148.8 million. The ... Read the full article

Assurant increases 2019 catastrophe reinsurance program

15th March 2019

U.S. specialty insurance group Assurant has reduced its exposure to catastrophe events in 2019, in part through the expansion of its catastrophe reinsurance program. At its 2019 Investor Day this week, Assurant revealed details of its new reinsurance program, which it claimed would significantly reduce its earnings impact from large catastrophe ... Read the full article

Catastrophe losses & tax cuts impact Assurant’s Q4 results

13th February 2019

U.S. specialty insurance group Assurant has posted its results for the fourth quarter of 2018, which include a reduction in net income from $312.9 million in Q4 2017 to $20.3 million in Q4 2018. This decease was primarily driven by $95.5 million of catastrophe losses in Q4 2018 and the absence ... Read the full article

Assurant posts Q4 nat cat losses of up to $150m

20th December 2018

Assurant, a global provider of risk management solutions, has released a fourth quarter catastrophe loss estimate of between $110 million and $150 million. The figure, reportable in its Global Housing segment, includes an initial view of expected losses related to November’s Camp and Woolsey wildfires in California, as well as a ... Read the full article

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