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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

Assurant makes senior appointments, outlines new operating structure

14th November 2018

Assurant, a global provider of risk management solutions, has made a series of senior management appointments and outlined a new operating structure within both technology and risk, effective 1 January 2019. The company says these changes support its commitment to drive sustainable, profitable growth across the enterprise. Firstly, the company’s Management Committee ... Read the full article

Maria loss-creep exhausts Assurant’s per-event Caribbean reinsurance program

23rd October 2018

Assurant, Inc. has posted catastrophe losses of between $82 million and $89 million pre-tax ($65-70 million after tax) for the third quarter of 2018, of which $16-19 million was due to loss creep from 2017’s Hurricane Maria. The company said that the additional Q3 2018 losses for Hurricane Maria are above ... Read the full article

Assurant secures $1.3bn property catastrophe reinsurance program

29th June 2018

New York-headquartered Assurant Inc. has secured a $1.3 billion 2018 catastrophe reinsurance program that protects nearly 3 million homeowners and renters policyholders against severe weather events. The main reinsurance program provides the firm with $985 million of coverage in excess of a $120 million retention. The 2018 U.S. program includes U.S. per-occurrence ... Read the full article

Assurant to fund TWG Holdings acquisition with $277mn stock proceeds

14th March 2018

Assurant, Inc. has revealed that it will use the US $276.7 million net proceeds from its recent sale of mandatory convertible preferred stock, in tandem with other capital sources, to finance its $2.5 billion acquisition of TWG Holding, Ltd., which was announced in October 2017. Assurant recently closed its 6.50% Series ... Read the full article

Assurant sees up to $140mn Harvey loss, Irma to stay within reinsurance program

12th September 2017

Assurant has announced that it expects hurricane Harvey to result in an estimated pre-tax catastrophe loss of between $134 million to $140 million within its third-quarter results, net of reinsurance. Following the devastating impact of hurricane Harvey in the U.S., companies and the global insurance and reinsurance industry will start to ... Read the full article

Assurant names Carey Roberts EVP, Chief Legal Officer & Corporate Secretary

21st August 2017

Assurant, Inc. has announced the appointment of Carey S. Roberts as Executive Vice President, Chief Legal Officer and Corporate Secretary, effective October 30th, 2017. Roberts joins the firm from Marsh & McLennan Companies, Inc., where she had held the position of deputy general counsel and corporate secretary since October 2014, with the addition ... Read the full article

Assurant secures $1.36 billion catastrophe reinsurance program

11th July 2017

Assurant, Inc. has announced the completion of its 2017, $1.36 billion per-occurrence property catastrophe reinsurance program, enabling the firm to protect 2.8 million homeowners and renters policyholders against catastrophe risks. Assurant, an international provider of risk management solutions, explains that its 2017 global, property catastrophe reinsurance program includes base reinsurance premiums ... Read the full article

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