Assurant Announces New Reportable Segments and Related Changes to Quarterly Financial Supplement
January 24 2017 - 4:15PM
Business Wire
Assurant Inc. (NYSE:AIZ), a global provider of risk management
solutions, today announced new reportable segments to align with
the company’s evolved global operating model resulting from its
multi-year transformation.
“We are refining our reportable segments to better reflect our
new operating structure and our emphasis on the Housing and
Lifestyle markets, where we believe we can outperform over time,”
said Richard Dziadzio, executive vice president, chief financial
officer and treasurer.
Starting in the fourth quarter 2016, Assurant will have four
reportable segments(1) aligned with the company’s key product and
service offerings, including:
- Global Housing: comprising
lender-placed homeowners, manufactured housing, flood insurance;
renters insurance and related services; and valuation and field
services;
- Global Lifestyle: consisting of
mobile device protection and related services; extended service
contracts; vehicle protection and credit insurance;
- Global Preneed: representing
pre-funded funeral insurance; and
- Corporate & Other: including
all other activity of the company.
Assurant will report results in these four segments starting
with fourth quarter 2016 results, scheduled for release Tuesday,
Feb. 7, 2017.
To enable investors to review the new reporting segment
structure prior to Assurant’s upcoming earnings release, the
financial supplement for the period ending Sept. 30, 2016 has been
revised to reflect these changes. The document is now available in
the Investor Relations section of assurant.com.
(1) In addition, Assurant Employee Benefits was a separate
segment in 2016 and includes activity for the two months prior to
its sale.
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; renter’s insurance; lender-placed
homeowner’s insurance; and mortgage valuation and field services.
With approximately $30 billion in assets and $6 billion in
annualized revenue as of Sept. 30, 2016, Assurant is located in 16
countries, while its Assurant Foundation works to support and
improve communities. Learn more at assurant.com or on Twitter
@AssurantNews.
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version on businesswire.com: http://www.businesswire.com/news/home/20170124006190/en/
Assurant, Inc.Media:John M. Moran,
212.859.7002Vice President, External
Communicationjohn.m.moran@assurant.comorInvestor
Relations:Suzanne Shepherd, 212.859.7062Vice President,
Investor Relationssuzanne.shepherd@assurant.com
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