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 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
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.
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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