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February 08, 2016 4:36 AM ET

Insurance

Company Overview of Assurant Solutions Inc.

Company Overview

Assurant Solutions Inc. develops, underwrites, markets, and administers specialty insurance, extended service contracts, and other risk management solutions in collaborative relationships with mobile carriers, electronic goods and household appliance manufacturers, retailers, leading financial institutions, automobile dealers, funeral homes, and other entities. The company provides vehicle protection, mobile protection, pre-funded funeral insurance, and payment protection, as well as electronics, appliance, and jewelry protection insurance programs for individuals; and extended protection, mobile protection, financial protection, and pre-funded funeral insurance products for businesses. It s...

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 Executive Officer and President
Age: 54
Chief Financial Officer and Senior Vice President
Chief Operating Officer
Chief Executive Officer of European Businesses and President of European Businesses
Chief Executive Officer of Assurant Solutions - Canada and President of Assurant Solutions - Canada
Compensation as of Fiscal Year 2015.

Assurant Solutions Inc. Key Developments

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.

Assurant Solutions Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Earnings Guidance for the Full Year 2015

Assurant Solutions reported unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net operating income of $52.4 million against $51.8 million a year ago. Net earned premiums, fees and other was $939.6 million against $969.3 million a year ago. Net operating income increased slightly compared to third quarter 2014. Third quarter 2015 results include a $4.5 million net tax benefit from international operations. Net operating income declined, primarily due to lower service contract volumes from North American retailers. For the nine months, the company reported net operating income of $167.6 million against $160.9 million a year ago. Net earned premiums, fees and other was $2,798.3 million against $2,796.8 million a year ago. For the year 2015, Assurant Solutions’ net earned premiums and fees and net operating income to approximate 2014 levels driven by continued growth from mobile and vehicle service contracts globally. Results to be affected by the previously disclosed loss of a domestic mobile tablet program, changes in carrier-marketing programs, declining service contract volumes at certain retailers and foreign exchange volatility.

Google Partners with Assurant Solutions to Offer Nexus Protect

Google has partnered with Assurant Solutions to develop and launch a mobile phone protection program in the U.S. called Nexus Protect. Nexus Protect provides mobile phone protection on the two new Nexus mobile devices that Google introduced on Sept. 29 – the Nexus 5X and Nexus 6P. Customers in the U.S. will be able to add Nexus Protect coverage when purchasing these devices on the Google Store. Nexus Protect offers two years of protection for accidental damage as well as an additional year of coverage for mechanical breakdown after the original manufacturer’s warranty expires. During the term of coverage, customers will be covered for up to two valid claims for accidental damage and unlimited valid mechanical breakdown claims. All claims are subject to a deductible. The Nexus phone coverage is portable ensuring customers remain protected if they switch carriers or give the phone to someone else.

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