FKnol.com

Financial Knowledge & Information Portal

Assurant (AIZ) Company Profile

Updated Feb 14, 2020
Assurant has the following business profile:
Company's Full Name:Assurant, Inc.
Short Name:Assurant
Trading Ticker Symbol:AIZ
Primary Exchange:NYSE
Headquarter City/Country:New York, NY
Primary Industry Sector:Finance
Seconday Sub-sector:Accident and Health Insurance
Main Business Areas: Finance, Accident and Health Insurance, Financial Services, Diversified Insurance
Dividend Payments:Dividend History

Market and Trading Information for Assurant

The following details were available for trading and market data about the stock of Assurant as of writing:
Current Share Price:$142.52
Previous Year's Closing Price:$131.08
Percentage Price Change (YTD):8.73%
Market Cap:$8.64 billion
52-week Price Range:$91.84 - $142.56
Dividend Per Share:$2.4
EPS (TTM):5.84
Price-Earnings (Trailing):24.4
Price-Earnings (Forward):13.1

Company Profile and Business Description for Assurant

Assurant, Inc., incorporated on October 10, 2003, is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company's segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business). Through its Global Lifestyle segment, it provides mobile device protection products and related services and extended service products and related services for consumer electronics and appliances (global connected living business); vehicle protection services, and credit insurance. The Global Preneed segment provides pre-funded funeral insurance and annuity products.

Global Housing segment

The Global Housing segment includes lender-placed homeowners' insurance business, which consists principally of fire and dwelling hazard insurance offered through its lender-placed program. The lender-placed program provides collateral protection to lenders, mortgage servicers and investors in mortgaged properties in the event that a homeowner does not maintain insurance on a mortgaged dwelling. Lender-placed insurance provides structural coverage. It protects both the lender's interest and the borrower's interest and equity. It also provides real estate owned (REO) insurance, consisting of insurance on foreclosed properties managed by its customers. Its lender-placed manufactured housing insurance consists principally of fire and dwelling hazard insurance for manufactured housing offered through its lender-placed program. Lender-placed insurance for manufactured housing is issued after an insurance tracking process similar to that of lender-placed homeowners insurance. Tracking is performed using an insurance tracking administration system. Lender-placed flood insurance consists of flood insurance offered through its lender-placed program. It provides collateral protection to lenders in mortgaged properties in the event a homeowner does not maintain flood insurance. Lender-placed flood insurance is issued after an insurance tracking process.

The Company's multi-family housing business offers renter insurance for various multi-family rental properties, including vacation rentals, providing content protection for renters' personal belongings and liability protection for the property owners against renter-caused damage. The Company also provides tenant bonds as an alternative to a security deposit, which helps its customers to maximize the collection of amounts owed by prior tenants. Its mortgage solution offers mortgage-related services, such as Field Services, through which it provides field services, inspection services, restoration and REO asset management to mortgage servicing clients and investors throughout the world. Its mortgage solution also provides valuation services across the origination, home equity and default markets through a network of independent contractors, as well as internal appraisers. Valuation services include origination, default and home equity appraisals, broker price opinions, which assist mortgage servicing customers with determining property values and alternative valuations products. It also provides title and settlement services to home equity lenders, as well as conventional mortgage lenders and refinancing lenders. Its manufactured housing and other insurance products offer voluntary manufactured housing insurance, homeowners insurance and flood insurance, as well as flood insurance under the National Flood Insurance Program. Its voluntary insurance generally provides structural coverage, as well as content and liability coverage.

Global Lifestyle segment

As of December 31, 2016, the Global Lifestyle segment had three lines of business. The Global connected living business, through partnerships with mobile carriers, original equipment manufacturers (OEMs), e-commerce and other retailers and multiple system operators (MSOs), underwrites and provides administrative services for extended service contracts (ESCs). These contracts provide consumers with coverage on mobile devices and consumer electronics and appliances, protecting them from certain covered losses. It pays the cost of repairing or replacing these consumer goods in the event of loss, theft, accidental damage and mechanical breakdown or electronic malfunction after the manufacturer's warranty expires. It provides integrated service offerings to its customers that manages all aspects of the ESC or warranty, such as program design and marketing strategy, risk management, data analytics, customer support and claims handling, supply chain and service delivery, including repair and logistics, and device disposition. In addition to extended protection for multiple devices, its mobile offerings include trade-ins and upgrades and customer support, including device self-diagnostic tools.

The Global vehicle protection service business underwrites and provides administrative services for vehicle service contracts (VSCs) and ancillary products providing coverage for vehicles, such as automobiles, trucks, recreational vehicles and motorcycles. For VSCs, the Company provides integrated service offerings to its customers, including program design and marketing strategy, risk management, data analytics, customer support and claims handling, and reinsurance facilitation, as well as actuarial consulting. The Company's Global credit and other insurance business is engaged in crediting insurance products and offers protection from life events and uncertainties that arise in purchasing and borrowing transactions. Credit insurance programs generally offer consumers the option to protect a credit card or installment loan balance/payments in the event of death, involuntary unemployment or disability, and are generally available to all consumers without the underwriting restrictions that apply to term life insurance.

Global Preneed Segment

The Global Preneed Segment has operations in the United States and Canada. The pre-funded funeral insurance provides insurance or annuity death benefits to fund the costs associated with pre-arranged funerals, which are planned and paid for in advance of death. The Company's pre-funded funeral insurance products are structured to be similar to whole life insurance policies in the United States and offer limited pay or pay for life options. In Canada, its pre-funded funeral insurance products are structured as limited pay annuity contracts. Product choices are based on the health and financial situation of the customer and the distribution channel.

28 Liberty St Fl 41

Peer / Competitor Companies of Accident and Health Insurance Sector

Along with Assurant, Inc., the following other peer (competitor) companies also exist within the same Accident and Health Insurance - Finance sector whose company profile and dividend history is as follows:

▶ AFLAC (AFL): Aflac Incorporated, incorporated on April 27, 1973, is a business holding company. The Company is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, ....See Detailed Company Profile,  Dividend History

▶ CNO Financial (CNO): CNO Financial Group, Inc., through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income ....See Detailed Company Profile,  Dividend History

▶ Principal Financial (PFG): Principal Financial Group, Inc., incorporated on April 18, 2001, is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. ....See Detailed Company Profile,  Dividend History

▶ Triple-S Management (GTS): Triple-S Management Corporation, through its subsidiaries, provides a portfolio of managed care and related products in the commercial, Medicare, and Medicaid markets in Puerto Rico, the United States....See Detailed Company Profile,  Dividend History

▶ Unum (UNM): Unum Group, incorporated on March 22, 1995, is a provider of financial protection benefits in the United States and the United Kingdom. The Companys products include disability, life, accident, critical ....See Detailed Company Profile,  Dividend History

... See Full List of All Stocks of Accident and Health Insurance Sector.

Stock List of Other Finance Sub-sectors

▶ Stocks of Accident and Health Insurance Sector

▶ Stocks of Asset Management Sector

▶ Stocks of Banks Sector

▶ Stocks of Banks—Regional Sector

▶ Stocks of Business Services Sector

▶ Stocks of Capital Markets Sector

▶ Stocks of Closed-End Fund - Debt Sector

▶ Stocks of Commercial Banks Sector

▶ Stocks of Commercial Leasing Sector

▶ Stocks of Commercial REITs - NEC Sector

▶ Stocks of Consumer Finance Sector

▶ Stocks of Consumer Finance Services Sector

▶ Stocks of Credit Services Sector

▶ Stocks of Diversified Commercial Services Sector

▶ Stocks of Diversified Financial Services Sector

▶ Stocks of Finance Companies Sector

▶ Stocks of Financial Services Sector

▶ Stocks of Insurance Sector

▶ Stocks of Insurance Brokers Sector

▶ Stocks of Insurance—Diversified Sector

▶ Stocks of Insurance—Life Sector

▶ Stocks of Insurance—Property & Casualty Sector

▶ Stocks of Insurance—Specialty Sector

▶ Stocks of Investment Bankers and Brokers Sector

▶ Stocks of Investment Companies Sector

▶ Stocks of Investment Funds Sector

▶ Stocks of Investment Managers Sector

▶ Stocks of Investors Services Sector

▶ Stocks of Life Insurance Sector

▶ Stocks of Major Banks Sector

▶ Stocks of Miscellaneous Sector

▶ Stocks of Mortgage Finance Sector

▶ Stocks of Mortgage REITs Sector

▶ Stocks of Property-Casualty Insurers Sector

▶ Stocks of Real Estate Sector

▶ Stocks of Regional Banks Sector

▶ Stocks of REITs Sector

▶ Stocks of Rental & Leasing Services Sector

▶ Stocks of Restaurants Sector

▶ Stocks of Savings Institutions Sector

▶ Stocks of Shell Companies Sector

▶ Stocks of Software—Application Sector

▶ Stocks of Specialty Insurers Sector


Stock List of Other Top-level Sectors

▶ Stocks of Sector

▶ Stocks of Basic Industries Sector

▶ Stocks of Basic Materials Sector

▶ Stocks of Capital Goods Sector

▶ Stocks of Communication Services Sector

▶ Stocks of Consumer Cyclical Sector

▶ Stocks of Consumer Defensive Sector

▶ Stocks of Consumer Durables Sector

▶ Stocks of Consumer Non-Durables Sector

▶ Stocks of Consumer Services Sector

▶ Stocks of Energy Sector

▶ Stocks of Finance Sector

▶ Stocks of Financial Services Sector

▶ Stocks of Health Care Sector

▶ Stocks of Healthcare Sector

▶ Stocks of Industrials Sector

▶ Stocks of Miscellaneous Sector

▶ Stocks of Public Utilities Sector

▶ Stocks of Real Estate Sector

▶ Stocks of Services Sector

▶ Stocks of Technology Sector

▶ Stocks of Transportation Sector

▶ Stocks of Utilities Sector