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Dec 31, 2019
Assurant Q4 2019 Earnings Report
Assurant reported earnings growth in the fourth quarter and full year of 2019, driven by strong mobile results and full-year contributions from TWG.
Key Takeaways
Assurant's Q4 2019 net income was $122.9 million, or $1.98 per share, compared to $20.3 million, or $0.32 per diluted share in Q4 2018. Net operating income increased to $139.9 million, compared to $48.9 million in Q4 2018.
Net income increased to $122.9 million, or $1.98 per share, compared to $20.3 million, or $0.32 per diluted share for the prior year.
Net operating income increased to $139.9 million, compared to $48.9 million for the prior year.
Net earned premiums, fees and other income increased to $2.42 billion from $2.17 billion for the prior year.
Holding company liquidity totaled $534 million as of December 31, 2019.
Forward Guidance
For full-year 2020, Assurant expects net operating income per diluted share, excluding catastrophe losses, to increase 10 percent to 14 percent from $9.21 in 2019.
Positive Outlook
- Profitable growth across all business segments
- Share repurchases
- Modest growth in Global Lifestyle driven primarily by Connected Living, and to a lesser extent Global Automotive
- Global Housing earnings, excluding catastrophe losses, to expand across all business lines
- Ongoing expense efficiencies
Challenges Ahead
- Continued declines in legacy Global Financial Services
- Investments to support growth
- Previously disclosed loss of loans from a financially insolvent client
- Corporate and Other full-year net operating loss to approximate $85 million, consistent with 2019
Historical Earnings Impact
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Avg. Return Before/After Earnings
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