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May 30, 2015 9:21 AM ET


Company Overview of Assurant Specialty Property

Company Overview

Assurant Specialty Property provides various insurance products and services in the United States. It offers lender-placed and voluntary homeowners insurance products that comprise fire and dwelling hazard insurance for lenders, mortgage servicers, and investors; and real estate owned insurance products on foreclosed properties. The company provides lender-placed and voluntary manufactured housing insurance products; and other insurance products comprising lender-placed flood and multi-family housing insurance products. It also acts as an administrator for the United States government through the voluntary national flood insurance program. In addition, the company offers appraisal management...

260 Interstate North Circle, SE

Atlanta, GA 30339

United States





Key Executives for Assurant Specialty Property

Age: 55
President of Lending Solutions Business
Senior Vice President and General Counsel
Senior Vice President of Hazard Product Line
Director of External Communications
Compensation as of Fiscal Year 2014.

Assurant Specialty Property Key Developments

Assurant Specialty Property Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for 2015

Assurant Specialty Property reported unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, net operating income was $75.1 million compared with $97.7 million for the same period last year. Net earned premiums, fees and other was $612.7 million compared with $664.1 million for the same period last year. Net operating income decreased in first quarter, primarily driven by the ongoing normalization of lender-placed insurance. Net earned premiums, fees and other income decreased in the quarter, primarily due to the divestiture of ARIC and lower placement and premium rates in lender-placed insurance. For full year 2015, the company continues to expect net earned premiums and net operating income to decrease from 2014, reflecting ongoing normalization of lender-placed insurance business, previously announced loss of client business and the sale of ARIC. Initiatives to lower expenses in lender-placed insurance to generate net savings in the latter part of the year. Contributions from multi-family housing and mortgage solutions to partially offset the decline. overall results to be affected by catastrophe losses.

Assurant Specialty Property Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides earnings guidance for the year 2015

Assurant Specialty Property reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net operating income of $71.0 million against $107.8 million a year ago. For the year, the company reported net operating income of $341.8 million against $423.6 million a year ago. For the year 2015, the company expects net earned premiums and net operating income to decrease from 2014, reflecting normalization of lender-placed insurance business.

Assurant Specialty Property Eliminates 37 Jobs in Ohio

Assurant Specialty Property is cutting 37 jobs in Ohio due to some of its departments' reduced workload. Affected posts are from the company's Springfield, Ohio, office, except for one position, which is in Dayton. The company's Springfield and Dayton locations had a roster of 2,100 employees and 200 employees, respectively, as of 2014.

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