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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Assurant Inc | NYSE:AIZ | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-3.41 | -1.94% | 172.19 | 175.78 | 171.215 | 175.50 | 292,565 | 21:00:05 |
Protecting 2.8 Million Policyholders Worldwide at Lower Costs
Assurant, Inc. (NYSE: AIZ), a global provider of risk management solutions, today announced it has finalized a $1.36 billion property catastrophe reinsurance program, reducing the company’s financial exposure and enhancing its ability to protect 2.8 million homeowners and renters policyholders against severe weather and other hazards.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170710006249/en/
2017 Assurant Catastrophe Reinsurance Program
Base reinsurance premiums for Assurant’s 2017 global catastrophe program are estimated to be $125.6 million¹, compared to $132.6 million in 2016. Lower premiums were driven by improved market pricing as well as a reduction in limits due to Assurant’s lower exposure from lender-placed insurance as that business continues to normalize.
“Assurant’s 2017 reinsurance program helps ensure we can support our policyholders at their time of need when catastrophe strikes,” said Christopher J. Pagano, Executive Vice President and Chief Risk Officer, Assurant.
“Managing risks is a core competency for Assurant, and again this year our catastrophe reinsurance program contains strong terms and conditions at attractive rates,” he added. “Assurant’s successful risk management strategies are essential to helping maintain the company’s financial strength while continuing to protect policyholders from risks of catastrophic events.”
2017 Catastrophe Program Components
Assurant placed its 2017 Property Catastrophe Reinsurance Program with more than 40 reinsurers that are all rated A- or better by A.M. Best.
An illustration of the 2017 Assurant catastrophe program’s layered structure is available in the Newsroom section of www.assurant.com.
¹ Actual reinsurance premiums will vary if exposure changes significantly from estimates or if reinstatement premiums are required due to catastrophe events.
About Assurant
Assurant, Inc. (NYSE: AIZ) is a global provider of risk management solutions, protecting where consumers live and the goods they buy. A Fortune 500 company, Assurant focuses on the housing and lifestyle markets, and is among the market leaders in mobile device protection; extended service contracts; vehicle protection; pre-funded funeral insurance; renters insurance; lender-placed homeowners insurance; and mortgage valuation and field services. With approximately $30 billion in assets and $6 billion in annualized revenue as of March 31, 2017, Assurant has a market presence in 16 countries, while its Assurant Foundation works to support and improve communities. Learn more at assurant.com or on Twitter @AssurantNews.
Safe Harbor Statement
Some of the statements included in this news release constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward-looking statements. The Company undertakes no obligation to update any forward-looking statements in this news release as a result of new information or future events or developments. For a detailed discussion of risk factors that could affect our results, please refer to the risk factors identified in our annual and periodic reports, including but not limited to our 2016 Annual Report on Form 10-K and First Quarter 2017 Form 10-Q each as filed with the U.S. Securities and Exchange Commission.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170710006249/en/
Assurant, Inc.Media:John M. Moran, 212.859.7002Vice President, External Communicationjohn.m.moran@assurant.comorInvestor Relations:Sean Moshier, 212.859.5831Manager, Investor Relationssean.moshier@assurant.com
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