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MarketScreener Homepage  >  Equities  >  Nyse  >  Assurant, Inc.    AIZ


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ASSURANT, INC. : Regulation FD Disclosure (form 8-K)

10/14/2020 | 04:17pm EST

Item 7.01. Regulation FD Disclosure.

Assurant, Inc. ("Assurant" or the "Company") announced today that it expects to record approximately $110 million pre-tax, or $87 million after-tax, of reportable catastrophes in the Global Housing segment for third quarter 2020. Nearly half of the losses were related to Hurricane Laura, with the balance primarily related to claims from Hurricanes Sally and Isaias and the wildfires in California and Oregon.

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. Since no single event reached the Company's $80 million pre-tax per-event retention, reinsurance will not be applied to these catastrophe losses.

Losses from all events were primarily related to lender-placed and manufactured housing products. Hurricanes Laura and Sally predominantly impacted the Gulf Coast region, while the impact from Hurricane Isaias was spread across the mid-Atlantic and Northeastern regions of the U.S.

On November 2, 2020, the Company will report complete third quarter 2020 results.

The information being furnished pursuant to this Item 7.01 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 under the Securities Act of 1933, as amended, or the Exchange Act.

Cautionary Statement

Some of the statements included 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 statements included in this Form 8-K, whether as a result of new information, future events or other developments. For a detailed discussion of risk factors that could affect the Company's results, please refer to the risk factors identified in the Company's annual and periodic reports filed with the U.S. Securities and Exchange Commission (the "SEC"), including the risk factors identified in the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, each as filed with the SEC.



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