Assurant said consolidated net income for Q1 2024 was $236.4 million, up $122.8 million from $113.6 million a year earlier. The company cited higher Global Housing earnings and lower reportable catastrophes as the main drivers.

1. 01

   Assurant said consolidated net income for Q1 2024 was $236.4 million, up $122.8 million from $113.6 million a year earlier. The company cited higher Global Housing earnings and lower reportable catastrophes as the main drivers.

2. 02

   The company said Global Housing Adjusted EBITDA for Q1 2024 was $192.5 million, up $124.1 million (181%) from $68.4 million a year earlier. It said the increase included the effect of $36.6 million lower reportable catastrophes.

3. 03

   Global Lifestyle Adjusted EBITDA for Q1 2024 was $207.7 million, up 4% from $198.9 million a year earlier, the company said. It said growth in Connected Living was partly offset by lower results in Global Automotive.

4. 04

   Assurant said holding company liquidity was approximately $622.3 million as of March 31, 2024, and that it spent $77.3 million on share repurchases and common stock dividends in Q1 2024. As of the same date, $634.6 million of its repurchase authorization remained unused.

Key figures

Quarter ended March 31, 2024

Revenue

$2.9B

Net income

$236M

EPS

$4.47

Operating cash flow

$83M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.