Assurant's profit jumps on global housing unit strength, higher investment returns
Aug 6 (Reuters) -Insurer Assurant AIZ.N reported a 21% jump in second-quarter profit on Tuesday, driven by growth in its global housing segment and higher investment returns.
The company's global housing unit, which offers lender-placed homeowners, manufactured housing and flood insurance, posted net earned premiums, fees and other income of $633.6 million, an 18% jump over the year earlier.
The unit benefited from strong performance in its homeowners business, thanks to growth in policies in-force and higher average premiums, the company said.
Assurant's net investment income jumped to $124.7 million in the quarter ended June 30, from $112.9 million a year earlier.
Risk-averse insurers allocate a major chunk of their investment portfolio in bonds, which return better yields in a high interest rate environment.
Net income rose to $188.7 million, or $3.58 per share, in the quarter, from $156.3 million, or $2.90 per share, a year earlier.
Shares of the company have risen 1% so far this year, underperforming an 8.7% gain in the benchmark S&P 500 .SPX index.
Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
