Assurant Inc.
10/16/2024 | Press release | Distributed by Public on 10/16/2024 14:16
Business/Financial Results Form 8 K
Item 2.02. Results of Operations and Financial Condition.
Assurant, Inc. (the "Company") announced today that it expects to record approximately $138 million pre-tax, or $109 million after-tax, of reportable catastrophes for third quarter 2024, primarily within its Global Housing segment. Reportable catastrophes were primarily within lender-placed, mainly driven by $92 million pre-tax from Hurricane Helene. The remainder came from Hurricane Beryl, Hurricane Debby and Hurricane Francine.
The Company's reportable catastrophes include individual catastrophic events that generate losses in excess of $5 million, pre-tax, net of reinsurance and client profit sharing adjustments and including reinstatement and other premiums.
Hurricane Milton is expected to be a reportable catastrophe for fourth quarter 2024. The Company expects to provide additional details during its third quarter 2024 earnings call on November 6, 2024.
The information being furnished pursuant to this Item 2.02 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in any such filing.
Cautionary Statement
Some of the statements in this Form 8-K, particularly expected reportable catastrophes, may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained in this Form 8-K are based upon the Company's historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by the Company or any other person that the Company's future plans, estimates or expectations will be achieved. Actual results may differ materially from those projected in the forward-looking statements. The Company undertakes no obligation to update or review any forward-looking statement, whether as a result of new information, future events or other developments. For additional information on factors that could affect the Company's actual results, please refer to the factors identified in the reports that the Company files with the U.S. Securities and Exchange Commission, including the risk factors identified in the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.