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Assurant, Inc. is a leading global business services company that operates through two main segments: Global Lifestyle and Global Housing. The company provides a range of solutions including mobile device services, extended service contracts, and insurance products for consumer electronics, appliances, and vehicles . Additionally, Assurant offers various insurance products for homeowners, renters, and manufactured housing . The Global Lifestyle segment is the larger contributor to Assurant's revenue compared to the Global Housing segment .
- Global Lifestyle - Offers mobile device solutions, extended service contracts, and related services for consumer electronics and appliances, as well as credit and other insurance products.
- Connected Living - Provides mobile device solutions and extended service contracts for consumer electronics and appliances.
- Global Automotive - Offers vehicle protection services and other related services.
- Global Housing - Provides lender-placed homeowners, manufactured housing, and flood insurance, as well as voluntary manufactured housing, condominium, and homeowners insurance, along with renters insurance and other products.
- Homeowners Insurance - Offers insurance products for homeowners, including lender-placed and voluntary options.
- Renters and Other Products - Provides renters insurance and other related insurance products.
| Name | Position | External Roles | Short Bio | Start Date |
|---|---|---|---|---|
Keith W. Demmings ExecutiveBoard | President, Chief Executive Officer, and Director | None | Joined AIZ in 1997; became CEO on Jan 1, 2022. Previously EVP and President, Global Lifestyle. Extensive experience in corporate governance, sustainability, and risk management. | Jan 1, 2022 |
Biju Nair Executive | Executive Vice President and President, Global Connected Living | None | Joined AIZ in Dec 2020 via HYLA Mobile acquisition; became EVP and President, Global Connected Living in July 2021. Previously CEO of HYLA Mobile. | July 2021 |
Francesca L. Luthi Executive | Executive Vice President, Chief Operating Officer | None | Joined AIZ in Aug 2012; became COO on Nov 15, 2023. Previously EVP, Chief Administrative Officer. Oversees global operations, customer experience, and digital transformation. | Nov 15, 2023 |
Jay E. Rosenblum Executive | Executive Vice President, Chief Legal Officer | None | Joined AIZ in June 2019; became Chief Legal Officer in July 2020. Previously SVP, Government Relations and Regulatory Affairs. | July 2020 |
Keith R. Meier Executive | Executive Vice President and Chief Financial Officer | None | Joined AIZ in 1998; became CFO on Nov 15, 2023. Previously COO and EVP, International. Expertise in global operations, strategy, and M&A. | Nov 15, 2023 |
Martin Jenns Executive | Executive Vice President and President, Global Automotive | None | Rejoined AIZ in Aug 2019; became EVP and President, Global Automotive in Jan 2022. Previously led transformation initiatives in Global Automotive. | Jan 2022 |
Michael P. Campbell Executive | Executive Vice President and President, Global Housing | None | Joined AIZ in 2006; became EVP and President, Global Housing in July 2016. Previously COO for specialty property lines. | July 2016 |
Elaine D. Rosen Board | Non-Executive Chair of the Board | Kforce Inc. (Lead Independent Director); Preble Street (Board Chair); Foundation for Maine’s Community Colleges (Founding Trustee); University of New England (Investment Committee Member) | Director since Feb 2009; Non-Executive Chair since Nov 2010. Former EVP at UNUM Life Insurance Company. Extensive experience in corporate governance and finance. | Nov 2010 |
Harriet Edelman Board | Director | Brinker International, Inc. (Director); Vice Chairman of Emigrant Bank | Director since Aug 2017. Chair of IT Committee. Former CIO and SVP at Avon Products. Expertise in technology, governance, and risk management. | Aug 2017 |
Kevin Warren Board | Director | Fiserv, Inc. (Board Member, Audit Committee Chair) | Director since Jan 15, 2025. Former Chief Marketing and Customer Experience Officer at UPS. Extensive experience in marketing and customer strategy. | Jan 15, 2025 |
Sari Granat Board | Director | Chainalysis, Inc. (President and COO); Venture Global LNG (Board Member); Opening Act (Board Member) | Director since May 2022. Serves on Nominating and Corporate Governance Committee. Former EVP and CAO at IHS Markit. Expertise in technology, governance, and compliance. | May 2022 |
- With ongoing profitability challenges in Global Auto due to longer-term policies and elevated losses, how exactly do you plan to accelerate the turnaround in this segment, and can you provide more details on the operational efficiencies you're implementing to achieve this?
- Considering the active catastrophe season and its impact on Global Housing, how confident are you that reinsurance costs will remain stable in 2025, and what contingency plans are in place if reinsurance rates increase significantly?
- Given the substantial investment spend in Connected Living this year and expectations of similar investments next year, can you elaborate on how these investments will translate into tangible revenue and EBITDA growth, and what key metrics are you using to measure success?
- With the addition of new clients in Asia Pacific contributing to subscriber growth, how are you addressing potential challenges in scaling operations and ensuring profitability comparable to your established markets?
- You mentioned the hard market is contributing to increased placement rates in your voluntary business; with the potential for market conditions to soften, how sustainable is this growth, and what steps are you taking to mitigate the risk of declining placement rates in the future?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
American Lease Insurance Agency Corporation | 2022 | Completed on November 1, 2022, this acquisition was for $59.8 million in cash and included ALI along with its captive subsidiary, The Equipment Lease Reinsurance Company Ltd, enhancing Assurant’s capabilities in providing property and liability insurance for leased or financed commercial equipment and vehicles. |
Recent developments and announcements about AIZ.
Earnings
New Earnings (Q4 2024)
·Feb 12, 2025, 4:18 PMView full earnings summary →AIZ Q4: Lender-placed homeowners PIF rose 16% YoY, supporting strong 2025 momentum. Auto losses stabilized from Q3 to Q4, while CA wildfire costs may exceed $150M. Management still targets a mid-80s combined ratio in Housing next year, delivering over 20% ROEs.