NEW YORK, Jan. 24, 2017 – Assurant Inc. (NYSE:AIZ), a global provider of risk management solutions, today announced new reportable segments to align with the company’s evolved global operating model resulting from its multi-year transformation.
“We are refining our reportable segments to better reflect our new operating structure and our emphasis on the Housing and Lifestyle markets, where we believe we can outperform over time,” said Richard Dziadzio, executive vice president, chief financial officer and treasurer.
Starting in the fourth quarter 2016, Assurant will have four reportable segments(1) aligned with the company’s key product and service offerings, including:
- Global Housing: comprising lender-placed homeowners, manufactured housing, flood insurance; renters insurance and related services; and valuation and field services;
- Global Lifestyle: consisting of mobile device protection and related services; extended service contracts; vehicle protection and credit insurance;
- Global Preneed: representing pre-funded funeral insurance; and
- Corporate & Other: including all other activity of the company.
Assurant will report results in these four segments starting with fourth quarter 2016 results, scheduled for release Tuesday, Feb. 7, 2017.
To enable investors to review the new reporting segment structure prior to Assurant’s upcoming earnings release, the financial supplement for the period ending Sept. 30, 2016 has been revised to reflect these changes. The document is now available in the Investor Relations section of assurant.com.
(1) In addition, Assurant Employee Benefits was a separate segment in 2016 and includes activity for the two months prior to its sale.
Assurant, Inc. (NYSE: AIZ) is a global provider of risk management solutions, protecting where consumers live and the goods they buy. A Fortune 500 company, Assurant focuses on the housing and lifestyle markets, and is among the market leaders in mobile device protection; extended service contracts; vehicle protection; pre-funded funeral insurance; renter’s insurance; lender-placed homeowner’s insurance; and mortgage valuation and field services. With approximately $30 billion in assets and $6 billion in annualized revenue as of Sept. 30, 2016, Assurant is located in 16 countries, while its Assurant Foundation works to support and improve communities. Learn more at assurant.com or on Twitter @AssurantNews.
John M. Moran
Vice President, External Communication
Investor Relations Contact:
Vice President, Investor Relations