Assurant Q4 2020 Earnings Report
Key Takeaways
Assurant's Q4 2020 results showed a net income of $134.5 million, or $2.23 per diluted share, compared to $122.9 million, or $1.98 per diluted share in Q4 2019. Net operating income decreased to $109.1 million, or $1.82 per diluted share, compared to $139.9 million, or $2.25 per diluted share in the prior year, primarily due to higher reportable catastrophes.
Net income increased, driven by the absence of a $32.5 million charge related to Iké in Q4 2019 and an increase in net realized gains on investments.
Net operating income decreased due to higher reportable catastrophes.
Revenue decreased slightly, impacted by a mobile program contract change, but increased modestly absent this change, driven by Global Automotive.
Holding company liquidity totaled $407 million, exceeding the targeted minimum level.
Assurant
Assurant
Forward Guidance
The company expects to provide its full-year 2021 outlook following the outcome of its evaluation of strategic alternatives, including a potential sale, of Global Preneed.