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Jun 12, 2009, 09:00 AM
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NEW YORK, June 12, 2009 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialized insurance and insurance-related products and services, today announced that it has finalized the structure of its 2009 property catastrophe reinsurance ("CAT") program, effective for both January 1, 2009 and June 1, 2009. Gene Mergelmeyer, president and chief executive officer of Assurant Specialty Property says, "Catastrophe reinsurance is a key component of our overall risk management program. It helps protect the capital base of our company and provides stability that enables us to effectively serve our clients and their customers." In structuring the CAT program, Assurant applies a disciplined risk management process that incorporates multiple catastrophe models to evaluate the estimated loss potential from various perils, analysis of reinsurance costs relative to the coverage provided, and evaluation of the credit quality, financial strength and claims paying ability of the
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May 15, 2009, 09:00 AM
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NEW YORK, May 15, 2009 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, today announced that its board of directors declared a quarterly dividend of $.15 per share of common stock. This represents a seven percent increase above the quarterly dividend of $.14 per share, declared on Jan. 23, 2009. The dividend will be payable on June 9, 2009 to stockholders of record as of the close of business on May 26, 2009. "Despite the global economic slowdown, where many companies have trimmed or cut their dividends completely, Assurant is pleased to be able to increase its quarterly dividend for the fifth straight year," says Robert B. Pollock, Assurant's president and chief executive officer. "We believe this increase reflects our continued strong capital position, our ability to generate solid cash flows through our diversified portfolio of specialty insurance businesses and the disciplined capital management
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May 5, 2009, 09:00 AM
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NEW YORK, May 5, 2009 - Assurant, Inc. (Assurant) (NYSE: AIZ), a premier provider of specialized insurance and insurance-related products and services, announced today that certain of its subsidiaries have entered into reinsurance agreements providing for $150 million in multi-year, fully collateralized reinsurance from Ibis Re Ltd. (Ibis Re), a special purpose reinsurance company domiciled in the Cayman Islands. Ibis Re financed the property catastrophe reinsurance coverage by issuing $150 million in catastrophe bonds to qualified institutional buyers in a private placement. The new reinsurance coverage is designed to complement Assurant's existing property catastrophe reinsurance and state-specific reinsurance programs and to enhance its ability to manage risk related to catastrophe losses. The reinsurance consists of two separate layers of coverage providing for an aggregate of $150 million of reinsurance coverage against losses from individual hurricane events in Hawaii and along
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Apr 29, 2009, 09:00 AM
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NEW YORK, April 29, 2009 - Assurant, Inc. (Assurant) (NYSE: AIZ), a premier provider of specialized insurance and insurance-related products and services, today reported results for first quarter 2009. Net operating income1 for first quarter 2009 decreased 36 percent to $137.8 million, or $1.17 per diluted share, compared to first quarter 2008 net operating income of $214.9 million, or $1.80 per diluted share. "Our quarterly results reflect how the economy is challenging consumers, employers and the financial markets. Yet, in spite of the turbulence, we were able to achieve a quarterly annualized operating ROE of 12.5 percent 2 ," says Robert B. Pollock, president and chief executive officer. "Difficult economic conditions triggered increased claim activity. For example, we believe that fears among consumers of potential loss of insurance coverage drove heavy utilization of medical services." "Even as we feel the economic turbulence of 2009, we are discovering new business
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Apr 1, 2009, 09:00 AM
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NEW YORK, April 1, 2009 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, will release its 2009 first quarter financial results on Wednesday, April 29, 2009 after the market closes. The news release will be available on Assurant's Web site at www.assurant.com . The company will broadcast its 2009 first quarter conference call at 9:00 a.m. ET on Thursday, April 30, 2009 with access available via internet and telephone. The teleconference is expected to last about one hour. Robert B. Pollock, president and chief executive officer; Michael J. Peninger, executive vice president and chief financial officer; Craig Lemasters, president and chief executive officer, Assurant Solutions; Christopher J. Pagano, executive vice president, treasurer and chief investment officer; and Melissa Kivett, senior vice president, investor relations; will review the 2009 first quarter results. Following the review, there will be a
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Mar 16, 2009, 09:00 AM
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NEW YORK, March 16, 2009 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, today announces that Sylvia R. Wagner, 60, is the new executive vice president, human resources and development, effective April 1, 2009. She succeeds Lesley G. Silvester, 62, who retires on July 1, 2009. In addition to assuming overall responsibility for Assurant's human resources function, Wagner joins the company's management committee. "Sylvia Wagner's knowledge and experience equip her well to assume this important senior executive role at Assurant," says Robert B. Pollock, president and chief executive officer. "Her insight about Assurant's employees and culture, as well as our diversified specialty insurance strategy, make her uniquely qualified for this position." With more than 34 years in human resources and communications, Wagner currently serves as senior vice president of human resources and development at Assurant
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Mar 10, 2009, 09:00 AM
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NEW YORK, March 10, 2009 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, announced today that it will host an investor day in New York City on Wednesday, March 18, 2009 beginning at 8:15 am ET. Assurant will host an invited audience of institutional investors and financial analysts and will also webcast the event. Speakers will include: Robert B. Pollock, president and chief executive officer, Assurant; Michael J. Peninger, executive vice president and chief financial officer, Assurant; Christopher J. Pagano, executive vice president, treasurer and chief investment officer, Assurant; Gene Mergelmeyer, president and chief executive officer, Assurant Specialty Property; John S. Roberts, president and chief executive officer, Assurant Employee Benefits; Donald Hamm, president and chief executive officer, Assurant Health; Craig Lemasters, president and chief executive officer, Assurant Solutions; and Melissa
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Mar 9, 2009, 09:00 AM
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P. Bruce Camacho Resigns; John S. Roberts Named President and Chief Executive Officer, Assurant Employee Benefits NEW YORK, March 9, 2009 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialized insurance and insurance-related products and services, today announced that Michael J. Peninger, interim chief financial officer, will become executive vice president and chief financial officer. He will succeed P. Bruce Camacho. Assurant's Board of Directors has agreed to Mr. Camacho's request to resign as chief financial officer in order to pursue other opportunities. Both changes will take effect on March 15. Mr. Camacho has also agreed to assist Assurant as a consultant for a 12-month transition period starting March 16. Mr. Peninger has served as Assurant's interim CFO since July 18, 2007. Previously, he had been president and chief executive officer of Assurant Employee Benefits, beginning in January 1999. "Mike has demonstrated that he can operate effectively both in
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Feb 23, 2009, 09:00 AM
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NEW YORK, Feb. 23, 2009 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, announced today that John S. Roberts, interim president and chief executive officer, Assurant Employee Benefits, is scheduled to present at the Association of Insurance and Financial Analysts (AIFA) Annual Conference in Scottsdale, Ariz. on March 2, 2009 at 4:00 p.m. ET/2:00 p.m. MT. Access to this presentation will be available through Assurant's Web site at www.assurant.com. After connecting to the home page, click on Investor Relations, then Events, to access the AIFA Conference webcast. Slides of the presentation will be posted on the company's Web site for viewing shortly before the presentation begins. The webcast presentation will be archived for one year. Assurant is a premier provider of specialized insurance products and related services in North America and selected international markets. Its four key businesses - Assurant
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Feb 10, 2009, 09:00 AM
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NEW YORK, Feb. 10, 2009 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, announced today that it has elected Elaine D. Rosen, 56, chair of the board of the Kresge Foundation and former president of UNUM Life Insurance Company of America, a subsidiary of UNUM Corporation, to its board of directors. Ms. Rosen will also serve on the Assurant board's nominating and corporate governance committee. "It is a pleasure to welcome Elaine to our board of directors," said Robert B. Pollock, Assurant's president and chief executive officer. "She is a highly regarded executive with extensive insurance management and operational experience. We look forward to her contributions and believe that her insights will be of great benefit to the company and its shareholders." Over a 25-year career with UNUM Corporation, Ms. Rosen held a number of senior leadership roles in various areas, having most recently served as executive
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Feb 4, 2009, 09:00 AM
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Q4 2008 Net Operating Income of $153.7 Million ($1.31 per diluted share), Down Less Than 1%; Full Year Net Operating Income of $637.4 Million ($5.36 per diluted share), Down 8% Q4 2008 Net Income of $182.4 Million ($1.55 per diluted share) and $447.8 Million ($3.77 per diluted share) for Full Year 2008 New York - February 4, 2009 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialized insurance and insurance-related products and services, today reported results for the fourth quarter and twelve months ended December 31, 2008. Robert B. Pollock, Assurant's president and chief executive officer, said: "Although we can't avoid the chill of the economic 'global cooling,' Assurant's capital position remains stable and our balance sheet remains solid, setting us apart, despite the unprecedented challenges in the economy. In 2008, despite an active storm season, we were able to grow revenues and expand through strategic acquisitions. We continue to believe our diverse
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Jan 30, 2009, 09:00 AM
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NEW YORK, Jan. 30, 2009 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, announced today that it has promoted Robyn H. Price Stonehill to the position of senior vice president, compensation and benefits, effective immediately. Ms. Price Stonehill, 36, most recently served as vice president, executive compensation and retirement plans at Assurant. In her expanded role, Ms. Price Stonehill will continue to oversee Assurant's executive compensation and retirement programs. She will also oversee Assurant's health and welfare plans working to optimize synergies across the compensation and benefits function. Lesley Silvester, Assurant's executive vice president, said: "This promotion and expanded responsibility recognizes Robyn's outstanding leadership abilities and valuable contributions to the company. Over the past 10 years, Robyn has progressively moved through significant positions in managing Assurant's
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Jan 23, 2009, 09:00 AM
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NEW YORK, Jan. 23, 2009 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, announced today that its board of directors has declared a quarterly dividend of $0.14 per share of common stock. The dividend will be payable on March 9, 2009 to stockholders of record as of the close of business on Feb. 23, 2009. Future dividend declarations will be made at the discretion of the board of directors and will be based on such factors as the company's earnings, financial condition, cash requirements, future prospects and other factors. Assurant is a premier provider of specialized insurance products and related services in North America and selected international markets. Its four key businesses - Assurant Solutions, Assurant Specialty Property, Assurant Health and Assurant Employee Benefits - have partnered with clients who are leaders in their industries and have built leadership positions in a number of specialty
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Jan 6, 2009, 09:00 AM
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NEW YORK, Jan. 6, 2009 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, will release its 2008 fourth quarter financial results on Wednesday, Feb. 4, 2009 after the market closes. The news release will be available on Assurant's Web site at www.assurant.com . The company will broadcast its 2008 fourth quarter conference call at 9:00 am (ET) on Thursday, Feb. 5, 2009 with access available via internet and telephone. The teleconference is expected to last about one hour. Robert B. Pollock, president and chief executive officer; Michael J. Peninger, executive vice president and interim chief financial officer; Craig Lemasters, president and chief executive officer, Assurant Solutions; Christopher J. Pagano, executive vice president, treasurer and chief investment officer; and Melissa Kivett, senior vice president, investor relations; will review the 2008 fourth quarter results. Following the review, there
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Nov 26, 2008, 09:00 AM
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NEW YORK, Nov. 26, 2008 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, today commented on A.M. Best's statement regarding the company's financial strength ratings. "We were very pleased to see that A.M. Best affirmed the ratings of nineteen of Assurant's twenty two underwriting entities and raised Assurant's outlook to 'stable' during these historically challenging economic times," said Robert B. Pollock, Assurant's president and chief executive officer. "All of our rated underwriting entities continue to have A- or better ratings, and we believe that Assurant remains well-capitalized and well-positioned to continue to deliver on our commitments to our policyholders and compete effectively." A.M. Best lowered the A ("Excellent") ratings to an A- rating ("Excellent") for Union Security Insurance Company and American Memorial Life Insurance Company, Assurant's life insurance subsidiaries which have longer
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Nov 14, 2008, 09:00 AM
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NEW YORK, Nov. 14, 2008 — Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, announced today that its board of directors has declared a quarterly dividend of $0.14 per common share, unchanged from the prior quarter. The dividend will be payable on Dec. 10, 2008 to shareholders of record as of Nov. 24, 2008. Future dividend declarations will be made at the discretion of the board of directors and will be based on such factors as the company's earnings, financial condition, cash requirements, future prospects and other factors. Assurant is a premier provider of specialized insurance products and related services in North America and selected international markets. Its four key businesses - Assurant Solutions; Assurant Specialty Property; Assurant Health; and Assurant Employee Benefits - have partnered with clients who are leaders in their industries and have built leadership positions in a number of specialty
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Nov 6, 2008, 09:00 AM
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NEW YORK- November 6, 2008 - Assurant, Inc. (NYSE: AIZ) announced today it filed an automatically effective shelf registration statement with the U.S. Securities and Exchange Commission (the "SEC"). Although Assurant does not have any current commitments or intentions to sell securities, the shelf registration statement provides flexibility for the company to issue equity, debt or other types of securities through one or more methods of distribution. The terms of any future offering would be established at the time of offering subject to market conditions. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Press Contact: Drew Guthrie Manager, Communications and Media Relations Phone: 212-859-7002 Fax: 212-859-5893
[email protected] Investor Relations:
Melissa Kivett
Senior Vice President
Investor Relations
Phone: 212-859-7029
Fax: 212-859-5893
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Nov 6, 2008, 09:00 AM
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Enhances Company's Capital Management Flexibility NEW YORK- November 6, 2008 - Assurant, Inc. (NYSE: AIZ), a premier provider of specialized insurance and insurance-related products and services, today announced that it has reinstated its share buyback program, effective Tuesday, November 11, 2008. Robert B. Pollock, president and chief executive officer, said, "Our first priority is to maintain our solid capital position during a period of unprecedented market volatility. However, we believe the benefit of our diverse specialty business model is not fully reflected in our stock price and remains a compelling driver of shareholder value. Our buyback program will be structured to provide flexibility to respond to changing market conditions. Therefore, we expect to limit potential repurchases to approximately $30 million between November 11, 2008 and January 31, 2009, subject to a meaningful improvement in the credit markets." In September 2007, Assurant announced the suspension of its
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Oct 30, 2008, 15:56 PM
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New York - October 30, 2008 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialized insurance and insurance-related products and services, today reported its results for the third quarter of 2008 and the nine months ended
September 30, 2008. Robert B. Pollock, president and chief executive officer, said: "Assurant demonstrated resilience, an essential quality for any business during turbulent times. Despite unprecedented volatility in the capital markets and a very active hurricane season we continued to execute on our diversified specialty strategy. We were pleased to complete two important acquisitions during the quarter."
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Oct 17, 2008, 09:00 AM
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NEW YORK, October 17, 2008 - Assurant, Inc. ("Assurant") (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, will release its 2008 third quarter financial results on Thursday, October 30, 2008 before the market opens. The news release will be available on Assurant's Web site at www.assurant.com . The company's 2008 third quarter conference call originally scheduled for 9:00 am (ET) on Thursday, October 30, 2008 will now be held at 10:00 am ET with access available via internet and telephone. This change was made to better accommodate investors and analysts given the number of other companies hosting earnings calls that morning. The teleconference is expected to last about one hour. Robert B. Pollock, president and chief executive officer; Michael J. Peninger, executive vice president and interim chief financial officer; Gene Mergelmeyer, president and chief executive officer, Assurant Specialty Property; Christopher J. Pagano, executive
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