AIZ $168.57

AIZ target price
Assurant, Inc.
Traded as NYSE: AIZ
S&P 500 Component
Industry Insurance
Founded 1892
Headquarters 28 Liberty St
New York City, New York
, U.S.
Key people
Alan B. Colberg (President and CEO)
Revenue DecreaseUS$ 7.532 billion (FY 2016)
Net income
IncreaseUS$ 565.4 million (FY 2016)
Total assets DecreaseUS$ 29.709 billion (FY 2016)
Total equity DecreaseUS$ 4.098 billion (FY 2016)
Number of employees
approximately 14,700 (2017)
Website assurant.com

Assurant, Inc. is a global provider of risk management products and services with headquarters in New York City. Its businesses provide a diverse set of specialty, niche-market insurance products in the property, casualty, extended device protection, and preneed insurance sectors. The company’s three operating segments are Global Housing, Global Lifestyle, and Global Preneed.

The company, formerly known as Fortis, Inc., was spun off from Dutch and Belgian financial-services company Fortis Insurance N.V. in 2004. The company’s initial public offering on Feb. 5, 2004 at $1.76 billion was the fourth largest that year. In connection with the public offering, the company changed its name to Assurant, Inc.

Assurant is 361 on the Fortune 500 list of the largest publicly traded companies in the United States.

Assurant can trace its roots back to the founding of the La Crosse Mutual Aid Association, which was established to sell disability insurance in Wisconsin in the early 1890s. La Crosse Mutual Aid Association would later become the Time Insurance Company. In 1978, N.V. AMEV of the Netherlands acquired the Time Insurance Company via its U.S. holding company AMEV Holdings, Inc. During the next 12 years, AMEV Holdings, Inc. would expand through acquisition, buying American Security Insurance (credit-related insurance); United Family (funeral insurance); Western Insurance Company (mutual funds); and Superior Insurance (auto insurance). In 1990, N.V. AMEV of the Netherlands acquired VSB Groep NV bank to become the Netherlands first financial conglomerate combining an insurer and a bank, creating Fortis. In 1991, AMEV acquired the group life, accident and health insurance of Mutual Benefit Life Insurance Company. AMEV Holdings, Inc. was rebranded Fortis, Inc. in 1991. Superior Insurance was sold in 1996. Fortis acquired John Alden in 1998 and American Bankers Insurance in 1999.

Fortis' American business was subsequently renamed as Assurant and spun off from the parent company in 2004.

On June 10, 2015 Assurant announced an exit from the health insurance marketplace to focus on housing and lifestyle specialty protection products and services, and would be winding down its Assurant Health business. In October 2015, Assurant announced it had completed the sale of Assurant Health’s existing supplemental and self-funded business lines to National General Holdings Corporation. Assurant began to wind down its major medical operations and did not participate in the next Affordable Care Act open enrollment period beginning in November 2015. Assurant sold its HSA assets and other medical-account assets to SelectAccount in March 2016. In 2015 Assurant also announced it was exiting the employee benefits marketplace. Sun Life Financial agreed to acquire Assurant Employee Benefits for $940 million in September 2015, and closed the sale in March 2016.

Assurant operates three main segments:

Assurant Health (now divested from Assurant) was repeatedly found to cancel health policies for some customers that had serious medical conditions, and 12 states criticized the firm for denying claims, with most of the states levying fines against Assurant. A number of individual cases have been reported.

In September 2009, the South Carolina Supreme Court upheld a lower court’s verdict that the firm (then known as "Fortis") wrongly revoked the health insurance policy of a holder who had contracted HIV subsequent to getting an insurance policy, and ordered the firm to pay $10 million to the plaintiff. The court found that:

Reuters report on the ruling stated that Fortis had a company policy to target every recently diagnosed HIV-positive policyholder for an automatic fraud investigation for a pretext to rescind their policy, according to undisclosed records. As in that case, their insurance policies often were canceled on incorrect information, flimsy evidence, or for no reason at all. In March 2010, the United States Supreme Court rejected the firm's appeal of the ruling.

In February 2010, a Boulder, Colorado jury found that Assurant Health had breached its contract with a woman who was severely injured in a hit-and-run accident, and awarded her $183,551 for medical bills and approximately $37.1 million in punitive damages. This was described as "one of the largest bad-faith judgments in Colorado history".

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2022 2023-02-07 Future report Set alerts
Q3 2022 2022-11-01 1.01 1.01
Q2 2022 2022-08-02 2.95 2.95
Q1 2022 2022-05-03 3.75 3.75
Q4 2021 2022-02-08 2.47 2.47
Q3 2021 2021-11-02 1.41 1.41
Q2 2021 2021-08-03 2.99 2.99
Q1 2021 2021-05-04 2.47 2.47
Q4 2020 2021-02-09 1.82 1.82
Q3 2020 2020-11-02 1.41 1.41


2016-07-06 Reiterated Rating JPMorgan Chase & Co. Hold $77.00
2016-02-10 Lower Price Target Piper Jaffray Neutral $84.00 to $80.00
2016-02-10 Lower Price Target Piper Jaffray Cos. Neutral $84.00 to $80.00
2015-12-04 Boost Price Target SunTrust Buy $95.00 to $105.00
2015-12-04 Boost Price Target SunTrust Banks Inc. Buy $95.00 to $105.00
2015-10-28 Reiterated Rating Piper Jaffray Hold
2015-10-21 Reiterated Rating Piper Jaffray Hold $84.00 to $81.00
2015-08-14 Boost Price Target Jefferies Group Hold $60.00 to $70.00
2015-08-03 Upgrade Bank of America Underperform to Buy $60.00 to $89.00
2015-08-03 Upgrade Bank of America Corp. Underperform to Buy $60.00 to $89.00
2015-07-30 Upgrade SunTrust Neutral to Buy $95.00
2015-07-29 Boost Price Target Macquarie Neutral $73.00 to $77.00
2015-07-07 Boost Price Target JPMorgan Chase & Co. Neutral $66.00 to $69.00
2015-06-01 Initiated Coverage Piper Jaffray Neutral $77.00
2015-05-15 Initiated Coverage Goldman Sachs Buy $72.00
2015-05-15 Initiated Coverage Goldman Sachs Group Inc. Buy $72.00
2015-05-07 Upgrade Macquarie Underperform to Neutral
2015-01-29 Initiated Coverage Jefferies Group Hold $70.00
2014-07-17 Reiterated Rating Sterne Agee CRT Neutral $74.00 to $67.00
2014-07-01 Reiterated Rating JPMorgan Chase & Co. Neutral $66.00 to $73.00
2014-05-16 Downgrade Bank of America Neutral to Underperform $73.00
2014-04-25 Reiterated Rating SunTrust Neutral $68.00
2013-12-16 Boost Price Target Keefe, Bruyette & Woods $58.00 to $63.00
2013-12-16 Upgrade Ned Davis Research Neutral to Buy
2013-10-11 Upgrade Bank of America Underperform to Neutral $54.00 to $60.00
2013-09-20 Downgrade Goldman Sachs Buy to Neutral $56.00 to $58.00
2009-10-09 Downgrade Sun Trust Rbsn Humphrey Buy to Neutral
2009-05-13 Downgrade Wachovia Outperform to Mkt Perform
2009-05-01 Initiated Keefe Bruyette Mkt Perform $28
2009-03-27 Downgrade Fox Pitt Outperform to In Line
2008-12-19 Upgrade JP Morgan Neutral to Overweight
2008-01-18 Initiated Sun Trust Rbsn Humphrey Buy $81
2007-10-23 Upgrade KeyBanc Capital Mkts Hold to Buy $65
2007-08-23 Initiated Wachovia Outperform
2007-07-17 Downgrade KeyBanc Capital Mkts / McDonald Buy to Hold
2007-03-12 Upgrade Citigroup Hold to Buy
2016-07-06 Reiterated Rating JPMorgan Chase & Co. Hold $77.00
2016-02-10 Lower Price Target Piper Jaffray Neutral $84.00 to $80.00
2016-02-10 Lower Price Target Piper Jaffray Cos. Neutral $84.00 to $80.00
2015-12-04 Boost Price Target SunTrust Buy $95.00 to $105.00
2015-12-04 Boost Price Target SunTrust Banks Inc. Buy $95.00 to $105.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
POLLOCK ROBERT B President, CEO, Director 0.55%  (391009) AIZ /
Lemasters S Craig Exec. VP 0.18%  (129486) AIZ /
Mergelmeyer Gene Executive Vice President 0.18%  (126633) AIZ /
Colberg Alan B. EVP, Marketing & Bus. Dev. 0.16%  (113768) AIZ / KMX /
Schwartz Bart EVP, Chief Legal Officer 0.12%  (86227) AIZ /
Wagner Sylvia EVP 0.09%  (62778) AIZ /
Pagano Christopher J EVP, CIO & Treasurer 0.09%  (62318) AIZ /
KOCH CHARLES JOHN 0.05%  (37464) AIZ / CFG /
CARVER HOWARD L 0.05%  (37256) AIZ / STON /
Price Stonehill Robyn EVP, Chief HR Officer 0.05%  (35090) AIZ /
DZIADZIO RICHARD S EVP, CFO, and Treasurer 0.04%  (26429) AIZ /
Roberts John S EVP 0.03%  (22817) AIZ /
Waghray Ajay EVP, CTO 0.03%  (22316) AIZ /
Cento Juan 0.03%  (20888) AIZ /
ROSEN ELAINE 0.02%  (17764) AIZ / KFRC /
JACKSON LAWRENCE V 0.02%  (17547) AIZ / LNCE /
KELSO DAVID B 0.02%  (14737) AIZ / EXLS /
Roberts Carey S. EVP, Chief Legal Officer 0.02%  (13085) AIZ /
Sondej John Andrew SVP, Controller (PAO) 0.02%  (12553) AIZ /
REILLY PAUL J 0.02%  (12233) AIZ / ARW / CCMP /
Anderson Michael David Interim Pres. Assur. Solutions 0.02%  (12225) AIZ /
Douglas Elyse 0.02%  (12146) AIZ / HTZ /
MONTUPET JEAN PAUL L 0.02%  (11609) AIZ / IHS / LXK / MRKT / PRE / WBC /
PACICCO DANIEL A. SVP,CAO, Controller 0.01%  (7916) AIZ /
Lamnin Adam Executive Officer 0.01%  (5513) AIZ /