Assurant, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Assurant, Inc. has submitted its 2023 annual report on Form 10-K, detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

ASSURANT, INC. (AIZN) filed a Annual Report (10-K) with the SEC on February 15, 2024. Assurant, Inc. filed its 2023 Form 10-K on February 15, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 260 Interstate North Circle S.E., Atlanta, GA 30339. Assurant, Inc. was formerly known as Assurant Inc. until October 16, 2003. The filing includes data related to common stock, senior subordinated notes, and preferred stock.

Why It Matters

For investors and stakeholders tracking ASSURANT, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Assurant's financial health, operational strategies, and risk factors for the past fiscal year, crucial for investors and stakeholders to assess the company's performance and future outlook. The detailed financial data within the report allows for a year-over-year comparison, enabling analysts to identify trends in revenue, net income, and other key financial metrics, informing investment decisions.

Risk Assessment

Risk Level: medium — ASSURANT, INC. shows moderate risk based on this filing. The filing is a standard 10-K, which inherently contains a broad range of financial and operational information, necessitating a medium risk assessment due to the potential for detailed disclosures on market, financial, and operational risks.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Assurant's performance and potential challenges in the upcoming fiscal year.

Key Numbers

• 20231231 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 20240215 — Filing Date (FILED AS OF DATE)
• 001-31978 — SEC File Number (SEC FILE NUMBER)
• 391126612 — IRS Number (IRS NUMBER)

Key Players & Entities

• ASSURANT, INC. (company) — COMPANY CONFORMED NAME
• AIZN (company) — tk
• 0001267238 (company) — CENTRAL INDEX KEY
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240215 (date) — FILED AS OF DATE
• 260 INTERSTATE NORTH CIRCLE S.E. (address) — BUSINESS ADDRESS STREET 1
• ATLANTA (location) — BUSINESS ADDRESS CITY
• GA (location) — BUSINESS ADDRESS STATE

FAQ

Industry Context

Assurant, Inc. operates in the insurance carriers sector, providing a range of financial services and insurance products.

Regulatory Implications

The company is subject to regulations governing the insurance industry in the jurisdictions where it operates, as detailed in its SEC filings.

What Investors Should Do

1. Analyze Assurant's revenue streams and growth trends from the 10-K.
2. Examine the company's balance sheet and debt structure for financial stability.
3. Review the risk factors section to understand potential threats to Assurant's business.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-15: Filing Date — Date Assurant, Inc. filed its 10-K with the SEC.

Year-Over-Year Comparison

This filing is the 2023 annual report (10-K) for Assurant, Inc., providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.01 — ange on Which Registered Common Stock, $0.01 Par Value AIZ New York Stock Exchange
• $125.72 — 2023 based on the closing sale price of $125.72 per share for the common stock on such
• $33.64 billion — flows. As of December 31, 2023, we had $33.64 billion in total assets and our debt to total c
• $772.6 million — ained a strong balance sheet, generated $772.6 million in dividends or returns of capital from
• $352.3 million — eceived from dispositions) and returned $352.3 million to shareholders through share repurchas
• $175.0 million — dividends. In February 2023, we issued $175.0 million of 6.10% senior notes due 2026 and used
• $225.0 million — ash on hand, to redeem a portion of the $225.0 million outstanding aggregate principal amount

Filing Documents

• aiz-20231231.htm (10-K) — 5131KB
• aiz12312023-ex10104q23.htm (EX-10.10) — 226KB
• aiz12312023-ex10134q23.htm (EX-10.13) — 64KB
• aiz12312023-ex10364q23.htm (EX-10.36) — 61KB
• aiz12312023-ex214q23.htm (EX-21) — 167KB
• aiz12312023-ex234q23.htm (EX-23) — 2KB
• aiz12312023-ex244q23.htm (EX-24) — 16KB
• aiz12312023-ex3114q23.htm (EX-31.1) — 9KB
• aiz12312023-ex3124q23.htm (EX-31.2) — 9KB
• aiz12312023-ex3214q23.htm (EX-32.1) — 5KB
• aiz12312023-ex3224q23.htm (EX-32.2) — 5KB
• aiz12312023-ex974q23.htm (EX-97) — 18KB
• aiz-20231231_g1.jpg (GRAPHIC) — 121KB
• 0001267238-24-000008.txt (&nbsp;) — 30704KB
• aiz-20231231.xsd (EX-101.SCH) — 164KB
• aiz-20231231_cal.xml (EX-101.CAL) — 282KB
• aiz-20231231_def.xml (EX-101.DEF) — 1089KB
• aiz-20231231_lab.xml (EX-101.LAB) — 1953KB
• aiz-20231231_pre.xml (EX-101.PRE) — 1520KB
• aiz-20231231_htm.xml (XML) — 6418KB

Signatures

Signatures 69 Unless otherwise stated, all amounts are presented in United States of America ("U.S.") Dollars and all amounts are in millions, except for number of shares, per share amounts, registered holders, number of employees, beneficial owners, number of securities in an unrealized loss position and number of loans.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Some statements in "Item 1 – Business" and "Item 7 – Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in this Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (this "Report"), including our business and financial plans and any statements regarding our anticipated future financial performance, business prospects, growth and operating strategies and similar matters, may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of words such as "will," "may," "can," "anticipates," "expects," "estimates," "projects," "intends," "plans," "believes," "targets," "forecasts," "potential," "approximately," and the negative versions of those words and other words and terms with a similar meaning. Any forward-looking statements contained in this Report are based upon our historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that our future plans, estimates or expectations will be achieved. Our actual results might differ materially from those projected in the forward-looking statements. We undertake no obligation to update or review any forward-looking statement, whether as a result of new information, future events or other developments. For a discussion of the factors that could affect our actual results, see "Item 1A – Risk Factors" and "Item 7 – Management's Discussion and Analysis of Financial Condition and Results of Operations – Critical Factors Affecting Results." PART I Unless the context otherwise requires, references to the terms "Assurant," the "Company," "we," "us" and "our" refer to Assurant, Inc.'s consolidated operations.

Business

Item 1. Business Assurant, Inc. was incorporated as a Delaware corporation in 2004. We are a leading global business services company that supports, protects and connects major consumer purchases. We support the advancement of the connected world by partnering with the world's leading brands to develop innovative solutions and to deliver an enhanced customer experience. We operate in North America, Latin America, Europe and Asia Pacific through two operating segments: Global Lifestyle and Global Housing. Through our Global Lifestyle segment, we provide mobile device solutions, extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products (referred to as "Connected Living"); and vehicle protection services, commercial equipment services and other related services (referred to as "Global Automotive"). Through our Global Housing segment, we provide lender-placed homeowners, manufactured housing and flood insurance, as well as voluntary manufactured housing, condominium and homeowners insurance (referred to as "Homeowners"); and renters insurance and other products (referred to as "Renters and Other"). Our Competitive Strengths Our financial strength and capabilities across our businesses create competitive advantages that we believe allow us to support our clients, deliver a superior experience for their customers and drive sustainable profitable growth over the long term. Our financial strength. We believe we have a strong balance sheet and operating cash flows. As of December 31, 2023, we had $33.64 billion in total assets and our debt to total capital was 30.2%. Our Global Lifestyle and Global Housing segments generate significant operating cash flows, which provide us with the flexibility to make investments to strengthen our strategic capabilities and enhance our partnerships with our clients. Insights and capabilities enable innovation to meet evolving consumer needs. We have a deep understa

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