May 02, 2016 7:30 AM ET

Insurance

Company Overview of Assurant Solutions Inc.

Company Overview

Assurant Solutions Inc. provides specialized insurance products and related services in North America and selected worldwide markets. The company provides electronics/appliance/jewelry protection, vehicle protection, mobile device protection, pre-funded funeral insurance, and payment protection solutions for individuals; and extended protection, mobile protection, financial protection, vehicle protection, and pre-funded funeral insurance products for businesses. The company is based in Atlanta, Georgia. It has locations in Latin America, France, Germany, Italy, Spain, the United Kingdom, Argentina, Brazil, Canada, Chile, China, Mexico, Puerto Rico, and the United States. Assurant Solutions I...

260 Interstate North Circle, S.E.

Atlanta, GA 30339

United States

Phone:

770-763-1000

Fax:

770-859-4403

Key Executives for Assurant Solutions Inc.

Chief Financial Officer and Senior Vice President
Chief Executive Officer of Assurant Solutions - Canada and President of Assurant Solutions - Canada
Chief Executive Officer of Assurant Solutions - Brazil and President of Assurant Solutions - Brazil
General Manager of Assurant Solutions - China and President of Assurant Solutions - China
Chief Executive Officer of Assurant Solutions - Spanish Latin America and President of Assurant Solutions - Spanish Latin America
Compensation as of Fiscal Year 2015.

Assurant Solutions Inc. Key Developments

Assurant Appoints Andy Morris as Chief Executive Officer and President of Assurant Solutions’ European Operations

Assurant Inc. announced the appointment of Andy Morris to the role of president and chief executive officer of Assurant Solutions in Europe. Andy will be based in the UK and report to Keith Demmings in his new role. Andy's leadership experience within European and global business-to-business service providers spans more than 20 years. He was promoted to chief marketing officer of Assurant Solutions in Europe in 2014.

Assurant Solutions Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the Year 2016

Assurant Solutions Inc. reported unaudited earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported net operating income of $29.6 million against $58.1 million a year ago. Net earned premiums, fees and other was $1,003.2 million against $1,000.0 million a year ago. Net operating income decreased compared to fourth quarter 2014, primarily due to lower contributions from mobile, including the previously disclosed loss of a domestic tablet program and higher operating expenses to support existing programs and expected program launches. Results also were negatively affected by foreign exchange losses and approximately $8 million of prior-period accounting adjustments, partially offset by a decrease in legal reserves related to an outstanding matter. For the year, the company reported net operating income of $197.2 million against $218.9 million a year ago. Net earned premiums, fees and other was $3,801.5 million against $3,796.7 million a year ago. Full-year 2015 net operating income, excluding disclosed items, decreased compared to 2014, primarily due to lower service contract volumes from North American retail clients and the loss of the domestic tablet program. For 2016, company expects net earned premiums and fees and net operating income to increase from 2015 levels. Overall results expected to improve in the second half of the year driven by new mobile programs, improved international profitability and additional expense initiatives.

OnePlus Partners with Assurant to Offer Protection Plans for its Newest Smartphones

OnePlus is partnering with Assurant Solutions to offer U.S. and Canadian customers protection plans for its newly released high-end, high-demand smartphones- the OnePlus X and OnePlus 2. On-Guard by Assurant protection plans cover mechanical and electrical breakdown after the warranty expires, as well as accidental damage for selected plans. The three single-pay plan options provide a choice to purchase coverage for 12, 18 or 24 months. Pricing for On-Guard 12 by Assurant, On-Guard Plus 18 by Assurant and On-Guard Plus 24 by Assurant ranges from USD 20 - USD 80 or CAD 25- CAD 110, with no deductible requirement for mechanical or electrical breakdown claims. Accidental damage coverage against breaks and spills is only offered through the 18- and 24-month plans.

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