December 18, 2014 10:34 PM ET

Insurance

Company Overview of Assurant Solutions Inc.

Company Overview

Assurant Solutions Inc. develops, underwrites, and markets specialty insurance, extended service contracts, vehicle service contracts, and other risk management solutions in collaborative relationships with financial institutions, retailers, automobile dealers, utilities, and other entities. It offers broadband, consumer electronics, jewelry, major appliances, personal computers, and vehicle protection programs; handset insurance; diversified financial services, including debt protection programs, targeted sales and retention, membership programs, credit insurance, and third party administration; and preneed life insurance, also known as funeral or burial insurance. The company is based in A...

260 Interstate North Circle S.E.

Atlanta, GA 30339

United States

Phone:

770-763-1000

Fax:

770-859-4403

Key Executives for Assurant Solutions Inc.

Chief Executive Officer and President
Age: 53
Chief Financial Officer and Senior Vice President
Chief Operating Officer
Chief Executive Officer of European Businesses and President of European Businesses
Chief Executive Officer of Assurant Solutions - Brazil and President of Assurant Solutions - Brazil
Compensation as of Fiscal Year 2014.

Assurant Solutions Inc. Key Developments

Assurant Solutions Launches Division to Offer Protection for People Living in Connected Homes

Assurant Solutions has launched a division to offer protection for people living in connected homes. A connected, or networked, home is where healthcare, entertainment and security systems are delivered over broadband and can be controlled by a smartphone. Assurant Solutions has combined its mobile and extended warranty programmes divisions. Products and services in the new division include mobile device insurance, extended protection programmes for home appliances and consumer electronics, technical support, repair and logistics, and identity theft and data security solutions.

Assurant Solutions Appoints Gilles Giacosa as Senior Vice President of Strategy and Strategic Initiatives for Connected Living Division

Assurant Solutions announced the appointment of Gilles Giacosa to the role of Senior Vice President of Strategy and Strategic Initiatives for its Connected Living division. Gilles has an extensive background in the telecommunications industry. Before joining Assurant Solutions he served for 15 years with Madrid-based Telefónica. While at Telefónica, Gilles focused on developing new businesses in Europe, Latin America, the Middle East and Africa. He also managed Telefónica's wireless network launch in Mexico, including the devices and commercial operations. Most recently, he was based in São Paulo, Brazil, serving as Vice President of Customer Service and Supply Chain for Telefónica's Latin American markets, leading the transformation and optimization of the customer value chain.

Assurant Solutions Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reaffirms Financial Guidance for the Full Year 2014; Reports Impairment Charges for the Third Quarter of 2014

Assurant Solutions Inc. reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net operating income of $51.8 million against $36.2 million a year ago. Net earned premiums, fees and other was $969.3 million against $792.9 million a year ago. Net operating income increased in third quarter 2014 due to strong results in domestic mobile. Net earned premiums, fees and other income increased in the quarter. Results primarily reflect continued growth in mobile subscribers, including contributions from the Lifestyle Services Group acquisition. For the nine months, the company reported net operating income of $160.9 million against $102.5 million a year ago. Net earned premiums, fees and other was $2,796.8 million against $2,336.1 million a year ago. Consistent with the previously reported outlook, for full-year 2014, the company continues to expect net earned premiums and fees to increase compared to 2013, primarily driven by growth in mobile. Net operating income to increase due to higher contributions from mobile, improved international results and savings from previous expense management actions. Quarterly results to vary, reflecting timing of new product introductions, client marketing programs and seasonal trends in mobile. Third quarter 2014 results included a $2.7 million software impairment charge in the domestic credit business, compared to third quarter 2013 results that benefited from a $5.8 million net change in tax liabilities.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 15, 2014
BroadTech, Inc.
Merger/Acquisition
October 27, 2014
CWI SAS
 

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