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Business Wire 8-Jul-2019 4:15 PM
Lowering Per-Event Retention from $120M in 2018 to $80M
Assurant, Inc. (NYSE:AIZ), a leading global provider of housing and lifestyle solutions that support, protect and connect major consumer purchases, today announced it has finalized its 2019 property catastrophe reinsurance program, reducing the company's financial exposure and protecting more than 3 million homeowners and renters policyholders against severe weather and other hazards.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190708005682/en/
(Graphic: Business Wire)
"We are pleased to complete our 2019 catastrophe reinsurance program, which this year includes a significant reduction of our per-event retention to $80 million, as we look to lower our catastrophe exposure and produce more predictable earnings and cash flow," said Assurant President and Chief Executive Officer Alan Colberg.
"At Assurant, we manage risk to protect and support our policyholders when catastrophes occur. Going forward, we will continue to evaluate options to further reduce our catastrophe exposure," Colberg added.
2019 U.S. Program Key Highlights
2019 Property Catastrophe Reinsurance Program
About Assurant
Assurant, Inc. (NYSE:AIZ) is a leading global provider of housing and lifestyle solutions that support, protect and connect major consumer purchases. Anticipating the evolving needs of consumers, Assurant partners with the world's leading brands to develop innovative products and services and to deliver an enhanced customer experience. A Fortune 500 company with a presence in 21 countries, Assurant offers mobile device solutions; extended service contracts; vehicle protection services; pre-funded funeral insurance; renters insurance and lender-placed homeowners insurance. The Assurant Foundation strengthens communities by supporting charitable partners that help protect where people live and can thrive, connect with local resources, inspire inclusion and prepare leaders of the future. Learn more at assurant.com or on Twitter @AssurantNews.
Safe Harbor Statement
Some of the statements included in this news release constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. 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 statements included in this news release, whether as a result of new information, future events or other developments. For a detailed discussion of risk factors that could affect our results, please refer to the risk factors identified in our annual and periodic reports filed with the U.S. Securities and Exchange Commission.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190708005682/en/