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AIZ Assurant

Assurant, Inc. is a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases. Anticipating the evolving needs of consumers, Assurant partners with the world's leading brands to develop innovative products and services and to deliver an enhanced customer experience. A Fortune 500 company with a presence in 21 countries, Assurant offers mobile device solutions; extended service contracts; vehicle protection services; pre-funded funeral insurance; renters insurance; lender-placed insurance products; and other specialty products. The Assurant Foundation strengthens communities by supporting charitable partners that help protect where people live and can thrive, connect with local resources, inspire inclusion and prepare leaders of the future.

Company profile

Ticker
AIZ, AIZN
Exchange
CEO
Alan Colberg
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
ASSURANT INC
SEC CIK
Subsidiaries
ABI International • ABIG Holding de Espana, S.L. • AIM Acquisitions, LLC • AIM Alexander Crossing Apartments, LLC • AIM Glendale, LLC • AIM Haverhill Industrial, LLC • AIM Mount Pleasant Apartments, LLC • AIM Orchard Springs Apartments, LLC • AIM Palm Harbor Apartments, LLC • AIM Real Estate GP, LLC ...
IRS number
391126612

AIZ stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 Aug 21
18 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Assurant earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Oct 21 Dimitry DiRienzo Common Stock Payment of exercise Dispose F No No 159 475 75.53K 6,388
8 Sep 21 Mergelmeyer Gene Common Stock Payment of exercise Dispose F No No 171.13 2,975 509.11K 13,219
13 Aug 21 Alan B. Colberg Common Stock Sell Dispose S No No 165.0848 10,000 1.65M 188,168.428
18 Jul 21 Richard S Dziadzio Common Stock Payment of exercise Dispose F No No 155.76 3,443 536.28K 41,459
15 Jul 21 Jay Rosenblum Common Stock Payment of exercise Dispose F No No 156.05 239 37.3K 7,357

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 398 393 +1.3%
Opened positions 46 38 +21.1%
Closed positions 41 66 -37.9%
Increased positions 139 135 +3.0%
Reduced positions 141 153 -7.8%
13F shares
Current Prev Q Change
Total value 9.61B 8.89B +8.1%
Total shares 64.11M 64.73M -1.0%
Total puts 31.8K 52.6K -39.5%
Total calls 117.1K 86.7K +35.1%
Total put/call ratio 0.3 0.6 -55.2%
Largest owners
Shares Value Change
TPG Advisors VI-AIV 7.87M $827.37M 0.0%
Vanguard 7.12M $1.11B +5.2%
BLK Blackrock 5.48M $855.18M +2.1%
TROW T. Rowe Price 5.45M $851.32M -0.8%
FMR 3.76M $587.4M +4.3%
STT State Street 3.08M $481.41M +3.4%
Wellington Management 2.68M $418.29M -15.7%
Viking Global Investors 2.41M $376.56M -13.1%
BK Bank Of New York Mellon 2.3M $359.33M +14.5%
Lyrical Asset Management 1.14M $178.08M -7.9%
Largest transactions
Shares Bought/sold Change
Wellington Management 2.68M -498.34K -15.7%
Viking Global Investors 2.41M -365.05K -13.1%
Vanguard 7.12M +350.83K +5.2%
Causeway Capital Management 334.82K +334.82K NEW
BK Bank Of New York Mellon 2.3M +291.23K +14.5%
Citadel Advisors 3.94K -251.15K -98.5%
Amundi 160.52K +160.52K NEW
FMR 3.76M +155.67K +4.3%
Voya Investment Management 543.81K -146.45K -21.2%
FIL 29.28K -133.32K -82.0%

Financial report summary

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Competition
National GeneralBRP
Risks
  • Business, Strategic and Operational Risks
  • Our revenues and profits may decline if we are unable to maintain relationships with significant clients, distributors and other parties, or renew contracts with them on favorable terms, or if those parties face financial, reputational or regulatory issues.
  • Significant competitive pressures, changes in customer preferences and disruption could adversely affect our results of operations.
  • The success of our business depends on the execution and implementation of our strategy, and the continuing service of key executives, senior management and other highly-skilled personnel.
  • We may be unable to grow our business if we cannot find suitable acquisition candidates at attractive prices, integrate acquired businesses effectively or identify new areas for organic growth.
  • Our inability to successfully recover should we experience a business continuity event could have a material adverse effect on our business, financial condition and results of operations.
  • Failure to successfully manage vendors and other third parties could adversely affect our business.
  • Our mobile business is subject to the risk of declines in the value of mobile devices in our inventory, to the risk of guaranteed buybacks, and to export compliance and other risks.
  • Sales of our products and services may decline if we are unable to develop and maintain distribution sources or attract and retain sales representatives and executives with key client relationships.
  • We face risks associated with joint ventures, franchises and investments in which we share ownership or management with third parties.
  • Negative publicity relating to our business or industry may adversely affect our financial results.
  • Applicable laws and our certificate of incorporation and by-laws may discourage takeovers and business combinations that some stockholders might consider to be in their best interests.
  • General economic, financial market and political conditions and conditions in the markets in which we operate may materially adversely affect our results of operations and financial condition.
  • The COVID-19 pandemic and measures taken in response thereto may adversely affect our business, results of operations and financial condition.
  • Catastrophe and non-catastrophe losses, including as a result of climate change, could materially reduce our profitability and have a material adverse effect on our results of operations and financial condition.
  • Our actual claims losses may exceed our reserves for claims, requiring us to establish additional reserves or to incur additional expense for settling unreserved liabilities, which could have a material adverse effect on our results of operations, profitability and capital.
  • We may be unable to accurately predict and price for claims and other costs, which could reduce our profitability.
  • A decline in the financial strength ratings of our insurance subsidiaries could adversely affect our results of operations and financial condition.
  • A credit rating agency downgrade of our corporate senior debt rating could adversely impact on our business.
  • Fluctuations in the exchange rate of the U.S. Dollar and other foreign currencies may materially and adversely affect our results of operations.
  • An impairment of our goodwill or other intangible assets could materially adversely affect our results of operations and book value.
  • Unfavorable conditions in the capital and credit markets may significantly and adversely affect our access to capital and our ability to pay our debts or expenses.
  • Our investment portfolio is subject to market risk, including changes in interest rates, that may adversely affect our results of operations and financial condition.
  • The value of our deferred tax assets could become impaired, which could materially and adversely affect our results of operations and financial condition.
  • Through reinsurance, we have sold or exited businesses that could again become our direct financial and administrative responsibility if the reinsurers become insolvent.
  • Our subsidiaries’ inability to pay us sufficient dividends could prevent us from meeting our obligations and paying future stockholder dividends.
  • Our ability to declare and pay dividends on our capital stock or repurchase shares may be limited.
  • The failure to effectively maintain and modernize our information technology systems and infrastructure and integrate those of acquired businesses could adversely affect our business.
  • The costs of complying with, or our failure to comply with, U.S. and foreign laws related to privacy, data security and data protection could adversely affect our financial condition, operating results and reputation.
  • We are subject to extensive laws and regulations, which increase our costs and could restrict the conduct of our business, and violations or alleged violations of such laws and regulations could have a material adverse effect on our reputation, business and results of operations.
  • Changes in tax laws and regulations could have a material adverse impact on our results of operations and financial condition.
  • Our business is subject to risks related to reductions in the insurance premium rates we charge.
  • Changes in insurance regulation may reduce our profitability and limit our growth.
  • Our common stock may be subject to stock price and trading volume volatility.
  • Employee misconduct could harm us by subjecting us to significant legal liability, regulatory scrutiny and reputational harm.
  • Deferred Acquisition Costs (“DAC”) and Value of Business Acquired (“VOBA”)
  • Recent Accounting Pronouncements
  • Year Ended December 31, 2020 Compared to the Year Ended December 31, 2019
  • Year Ended December 31, 2020 Compared to the Year Ended December 31, 2019
  • Year Ended December 31, 2020 Compared to the Year Ended December 31, 2019
  • Year Ended December 31, 2020 Compared to the Year Ended December 31, 2019
  • Year Ended December 31, 2020 Compared to the Year Ended December 31, 2019
  • Opinions on the Financial Statements and Internal Control over Financial Reporting
  • Definition and Limitations of Internal Control over Financial Reporting
  • Principles of Consolidation
  • Variable Interest Entities
  • Cash and Cash Equivalents
  • Premiums and Accounts Receivable
  • Deferred Acquisition Costs
  • Earnings Per Common Share
  • Recent Accounting Pronouncements – Adopted
  • Recent Accounting Pronouncements – Not Yet Adopted
  • American Financial & Automotive Services
  • Acquisition-related Costs
  • Unaudited Supplemental Pro Forma Consolidated Financial Information
  • Sale of Investment in Iké
  • Assurant Health Exit Activities
  • Premium and Accounts Receivables
  • Commercial Mortgage Loans
  • Fair Values, Inputs and Valuation Techniques for Financial Assets and Liabilities Disclosures
  • Disclosures for Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
  • Fair Value of Financial Instruments Disclosures
  • Global Preneed Goodwill Impairment
  • Quantitative Impairment Testing
  • Reconciliation of the Disclosure of Net Incurred and Paid Claims Development to the Liability for Unpaid Claims and Benefits Payable
  • Loss Protection and Capital Management
  • Segment Client Risk and Profit Sharing
  • Interest Rate Derivatives
  • Issuance of Mandatory Convertible Preferred Stock
  • Long-Term Equity Incentive Plan
  • Employee Stock Purchase Plan
  • Non-Stock Based Incentive Plans
  • Defined Contribution Plan
  • Legal and Regulatory Matters
Management Discussion
  • Consolidated net income from continuing operations increased $20.0 million, or 12%, to $184.7 million for Second Quarter 2021 from $164.7 million for Second Quarter 2020. Net income from continuing operations included $0.4 million of reportable catastrophes in Second Quarter 2021 compared to $10.0 million in Second Quarter 2020. Excluding reportable catastrophes, consolidated net income from continuing operations increased $10.4 million, or 6%, for Second Quarter 2021, primarily due to a $13.1 million after-tax decrease in direct and incremental operating expenses incurred in connection with the COVID-19 pandemic and an $8.6 million after-tax decrease in general corporate operating expenses, mostly due to a reduction in employee related incentive compensation and lower third-party fees for general corporate services. These items were offset by a reduction in net realized gains, mostly due to the absence of net unrealized gains on collateralized loan obligations from Second Quarter 2020 and a decrease in net unrealized gains on equity securities. Results for Global Lifestyle and Global Housing were largely unchanged as underlying growth and an increase in net investment income that included a $9.7 million after-tax gain from the sale of a real estate joint venture property were offset by more normalized loss experience across several product lines in comparison to Second Quarter 2020, which included impacts from COVID-19.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
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Readability
H.S. junior Avg
New words: aforementioned, book, CMFG, comparison, core, DAC, Interfinancial, Leakage, mechanism, multiyear, partnership, roughly, TruStage, ULC, unchanged, VOBA
Removed: authorization, CLO, consisting, customary, deducting, end, foreclosure, modest, obtain, published, subsequent