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Assurant Inc (AIZ.N)

AIZ.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Assurant And The Warranty Group Amend Deal Structure
Tuesday, 9 Jan 2018 

Jan 9 (Reuters) - Assurant Inc ::ASSURANT AND THE WARRANTY GROUP AMEND DEAL STRUCTURE.ASSURANT INC - ‍TRANSACTION REMAINS MODESTLY ACCRETIVE TO 2018 EARNINGS PER SHARE ON A RUN-RATE BASIS​.ASSURANT INC - ‍UNDER REVISED TERMS, ASSURANT WILL ACQUIRE TWG HOLDINGS LIMITED AND ITS SUBSIDIARIES, AND REMAIN A DELAWARE CORPORATION​.ASSURANT INC - ‍TRANSACTION REMAINS VALUED AT $1.9 BILLION IN EQUITY VALUE OR $2.5 BILLION OF ENTERPRISE VALUE, INCLUDING WARRANTY GROUP'S EXISTING DEBT​.ASSURANT INC - ‍UPON CLOSING OF DEAL , ASSURANT'S BOARD WILL BE COMPRISED OF 14 DIRECTORS, INCLUDING TWO FROM TPG CAPITAL​.ASSURANT INC - ‍TPG CAPITAL AND ITS AFFILIATES WILL RECEIVE 10.4 MILLION ASSURANT SHARES, OR APPROXIMATELY 19.8 PERCENT OF CURRENT SHARES OUTSTANDING​.ASSURANT INC - ‍STRATEGIC RATIONALE AND OTHER KEY TERMS PREVIOUSLY ANNOUNCED ARE UNCHANGED​.ASSURANT INC - ENTERED INTO A NEW COMMITMENT LETTER FOR A $1.5 BILLION BRIDGE FACILITY (INCREASED FROM $1.0 BILLION) TO REFLECT NEW DEAL STRUCTURE​.ASSURANT INC - ‍BY END OF 2019, ASSURANT EXPECTS TO GENERATE $60 MILLION OF PRE-TAX OPERATING SYNERGIES BY OPTIMIZING GLOBAL OPERATIONS​.ASSURANT INC - UNDER AMEMDED TERMS, FOR FEWER ASSURANT SHARES, TPG CAPITAL,AFFILIATES WILL GET INCREASED CASH CONSIDERATION, TOTALING ABOUT $860 MILLION​.ASSURANT INC - ‍CURRENTLY EXPECTS TO REPLACE NEW BRIDGE FACILITY WITH A COMBINATION OF DEBT AND EQUITY, SUBJECT TO MARKET CONDITIONS​.  Full Article

Assurant Says Entered $450 Million Senior Unsecured Revolving Credit Facility
Thursday, 21 Dec 2017 

Dec 21 (Reuters) - Assurant Inc ::ASSURANT SAYS ON DEC 15, ENTERED $450 MILLION, 5-YEAR SENIOR UNSECURED REVOLVING CREDIT FACILITY - SEC FILING.ASSURANT - NEW REVOLVING CREDIT FACILITY REPLACES CO'S PRIOR 5-YEAR $400 MILLION REVOLVING CREDIT FACILITY, ENTERED INTO ON SEPT 16, 2014.ASSURANT - ALSO ESTABLISHED $350 MILLION 364-DAY SENIOR UNSECURED TERM LOAN CREDIT FACILITY.ASSURANT - CO MAY INCREASE TOTAL AMOUNT AVAILABLE UNDER NEW REVOLVING CREDIT FACILITY TO $575 MILLION.  Full Article

ASSURANT BOARD OF DIRECTORS APPROVES 6% DIVIDEND INCREASE
Friday, 10 Nov 2017 

Nov 10 (Reuters) - Assurant Inc ::ASSURANT BOARD OF DIRECTORS APPROVES 6% DIVIDEND INCREASE.‍RAISES QUARTERLY DIVIDEND BY $0.03 TO $0.56 PER COMMON SHARE​.  Full Article

Assurant Q3 operating loss per share of $1.40
Thursday, 2 Nov 2017 

Nov 2 (Reuters) - Assurant Inc ::Assurant reports third quarter 2017 financial results.Q3 operating loss per share $1.40.Q3 loss per share $1.05.Q3 earnings per share view $-1.72 -- Thomson Reuters I/B/E/S.Sees ‍for FY 2017, operating earnings per diluted share, excluding catastrophe losses to grow double-digits from 2016​.  Full Article

Assurant to acquire the Warranty Group in transaction valued at $2.5 billion
Wednesday, 18 Oct 2017 

Oct 18 (Reuters) - Assurant Inc :Assurant to acquire the Warranty Group in transaction valued at $2.5 Billion.Assurant Inc - ‍Assurant to acquire Warranty Group in transaction valued at $2.5 billion​.Assurant Inc - deal to be ‍modestly accretive to operating earnings per share in 2018 on a run-rate basis​.Assurant Inc - ‍transaction values Warranty Group at $1.9 billion in equity value​.Assurant Inc - ‍upon deal closing, Assurant Ltd. shares will trade on New York Stock Exchange under ticker symbol AIZ​.Assurant Inc - ‍senior management team of assurant will lead combined organization​.Assurant Inc - co will become a wholly owned subsidiary of Twg Holdings Limited, whose name will be changed to Assurant Ltd​.Assurant Inc - ‍Assurant shareholders will own about 77 percent of combined entity as existing shares of co are converted into shares of Assurant Ltd​.Assurant Inc - ‍existing Assurant Inc shares to be converted into shares of Assurant Ltd on a one-for-one basis​.Assurant-To finance cash consideration,repayment of $591 million of Warranty Group's debt through new debt,preferred securities to be issued after closing​.Assurant Inc - ‍assurant has entered into a commitment letter for a $1.0 billion bridge facility​.Assurant Inc - ‍assurant will also pay approximately $372 million in cash to TPG​.Assurant Inc - ‍by end of 2019, assurant expects to generate $60 million of pre-tax operating synergies from deal.  Full Article

Assurant - Expects $287 mln - $293 mln pre-tax catastrophes losses in Q3 2017​
Tuesday, 10 Oct 2017 

Oct 10 (Reuters) - Assurant Inc :Assurant - ‍expects between $287 million - $293 million pre-tax, or $187 million - $191 million after-tax, of catastrophes losses in Q3 2017​.Assurant Inc says ‍reportable catastrophes losses relate to hurricanes Harvey, Irma and MARIA for Q3 - SEC filing.Assurant Inc - ‍expects about $4 million pre-tax loss related to the earthquake in Mexico​ for Q3 2017.  Full Article

RPT- Assurant Q2 EPS $2.70
Tuesday, 26 Jul 2016 

Assurant Inc : Q2 net operating income $89 million versus $130.2 million (not "$56.9 million") . Q2 net earned premiums $1.20 billion versus $2.14 billion (not "$958.2 million") . Assurant reports second quarter 2016 financial results . Q2 operating earnings per share $1.42 . Q2 earnings per share $2.70 . Q2 earnings per share view $1.38 -- Thomson Reuters I/B/E/S . Q2 net investment income $119.8 million versus $167.8 million . Qtrly combined ratio for risk-based businesses was 87.3 percent, compared to 82.4 percent in q2 2015 .Overall results expected to improve in second half of year driven by new mobile programs.  Full Article

Assurant buys American Title; transaction to modestly add to 2017 earnings
Wednesday, 6 Jul 2016 

Assurant Inc : Assurant expects transaction to be . Assurant acquires american title, leader in title and valuation .American title was acquired for $45 million in cash.  Full Article

Assurant names Richard Dziadzio Chief Financial Officer
Wednesday, 1 Jun 2016 

Assurant Inc : Dziadzio succeeds Christopher J. Pagano, who will move into newly created role of chief risk officer, effective July 18, 2016 . Dziadzio joins assurant from QBE North America where most recently served as cfo .Assurant names richard s. Dziadzio chief financial officer and treasurer.  Full Article

BRIEF-Assurant And The Warranty Group Amend Deal Structure

* ASSURANT INC - ‍TRANSACTION REMAINS MODESTLY ACCRETIVE TO 2018 EARNINGS PER SHARE ON A RUN-RATE BASIS​