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Last $74.79 USD
Change Today -0.31 / -0.41%
Volume 473.1K
AIZ On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

assurant inc (AIZ) Key Developments

Sun Life In Talks To Buy Assurant's Employee Benefits Unit

Sun Life Financial Inc. (TSX:SLF) is in talks to buy Assurant Inc.’s employee-benefits unit in a deal valuing $900 million, people with knowledge of the matter said. A sale hasn’t been finalized and the talks could still fall apart, they said. Representatives for Sun Life, Assurant declined to comment. Assurant said in April that it was working with Barclays PLC (LSE:BARC) to find buyers for the division as it seeks to narrow its focus.

Assurant Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Assurant Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net income of USD 32,789,000 or USD 0.47 per diluted share on total revenues of USD 2,644,894,000 compared to net income of USD 143,610,000 or USD 1.95 per diluted share on total revenues of USD 2,608,101,000 reported a year ago. Income before income taxes was USD 40,025,000 compared to USD 193,787,000 reported a year ago. Net operating income was USD 143.6 million compared to USD 121.4 million reported a year ago. Net operating income was increased, primarily reflecting fewer weather-related claims at Assurant Specialty Property. The decrease in net income was primarily reflects USD 106.7 million of charges associated with the wind down of the Assurant Health business including premium deficiency reserves. For the six months, the company reported net income of USD 82,833,000 or USD 1.18 per diluted share on total revenues of USD 5,243,504,000 compared to net income of USD 280,855,000 or USD 3.81 per diluted share on total revenues of USD 5,056,473,000 reported a year ago. Income before income taxes was USD 123,218,000 compared to USD 429,040,000 reported a year ago. Annualized GAAP return on average equity was 11.0%. Net operating income was USD 272.3 million compared to USD 252.9 million reported a year ago. Book value per diluted share, excluding AOCI, decreased to USD 58.21 at June 30, 2015, compared to USD 58.61 at December 31, 2014. Annualized operating return on average equity (ROE), excluding AOCI, was 13.3% year-to-date compared to 12.1% for full year 2014. Annual GAAP return on average equity was 3.3% against 9.4% a year ago. Book value per diluted share was USD 70.36 as on June 30, 2015 against USD 72.61 as on June 30, 2014.

Assurant Eyes Acquisitions

Assurant Inc. (NYSE:AIZ) is looking for acquisition opportunities. Based on current market conditions, for full-year 2015, Assurant now expects that capital to be deployed on share repurchases, common stock dividends, investments in the business and strategic acquisitions, subject to market conditions and legal requirements.

Assurant Inc. to Report Q2, 2015 Results on Jul 28, 2015

Assurant Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jul 28, 2015

Assurant Inc., Q2 2015 Earnings Call, Jul 29, 2015

Assurant Inc., Q2 2015 Earnings Call, Jul 29, 2015

 

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Industry Analysis

AIZ

Industry Average

Valuation AIZ Industry Range
Price/Earnings 19.5x
Price/Sales 0.5x
Price/Book 1.0x
Price/Cash Flow 18.3x
TEV/Sales 0.2x
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