Assurant, Inc. Files 8-K for Material Definitive Agreement

TL;DR

Assurant signed a big deal on Jan 22, 2025. Details to follow.

AI Summary

On January 22, 2025, Assurant, Inc. entered into a material definitive agreement related to its results of operations and financial condition. The filing also includes financial statements and exhibits. Specific details of the agreement and financial impact were not disclosed in this summary.

Why It Matters

This 8-K filing indicates a significant new agreement for Assurant, Inc., which could impact its financial performance and strategic direction.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which could introduce new risks or opportunities that are not yet fully detailed.

Key Players & Entities

• Assurant, Inc. (company) — Registrant
• January 22, 2025 (date) — Date of earliest event reported
• January 23, 2025 (date) — Date of Report

FAQ

Key Financial Figures

• $0.01 — ange on Which Registered Common Stock, $0.01 Par Value AIZ New York Stock Exchange
• $126 million — Florida campus for a purchase price of $126 million. The Agreement provides for a 90-day du
• $50 million — that it expects to record approximately $50 million pre-tax, or $40 million after-tax, of r
• $40 million — d approximately $50 million pre-tax, or $40 million after-tax, of reportable catastrophes f
• $5 m — vents that generate losses in excess of $5 million, pre-tax, net of reinsurance and

Filing Documents

• aiz-20250122.htm (8-K) — 31KB
• 0001267238-25-000002.txt ( ) — 191KB
• aiz-20250122.xsd (EX-101.SCH) — 2KB
• aiz-20250122_def.xml (EX-101.DEF) — 15KB
• aiz-20250122_lab.xml (EX-101.LAB) — 27KB
• aiz-20250122_pre.xml (EX-101.PRE) — 16KB
• aiz-20250122_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement On January 22, 2025 (the "Effective Date"), Assurant, Inc. (the "Company"), through its subsidiary, American Bankers Life Assurance Company of Florida ("Seller"), entered into a Purchase and Sale Agreement (the "Agreement") with GPC Miami Business Park, LLC ("Buyer") to sell its Miami, Florida campus for a purchase price of $126 million. The Agreement provides for a 90-day due diligence period for the Buyer from the Effective Date of the Agreement. The transaction is subject to the Buyer receiving the requisite development approvals from relevant state and local government authorities, including approvals relating to land use, rezoning and site plan. This approval process will involve political as well as administrative processes and could take 18 to 24 months. Closing will occur within 30 days of Buyer receiving the requisite development approvals. The Company expects to relocate its current Miami operations to a new leased Miami site by the end of the second quarter of 2025.

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. The Company announced today that it expects to record approximately $50 million pre-tax, or $40 million after-tax, of reportable catastrophes for fourth quarter 2024, which is more favorable than the early estimates provided on our third quarter 2024 earnings call in November. Reportable catastrophes were primarily within lender-placed in Global Housing and were largely driven by Hurricane Milton. 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. The recent California wildfires are expected to be a reportable catastrophe for first quarter 2025. The Company expects to provide additional information during its fourth quarter 2024 earnings call on February 12, 2025. The information being furnished pursuant to this Item 2.02 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 of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in any such filing. Cautionary Statement Some of the statements 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 a

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. -2- SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ASSURANT, INC. Date: January 23, 2025 By: /s/ Jay Rosenblum Name: Jay Rosenblum Title: Executive Vice President, Chief Legal Officer -3-

View Full Filing

View this 8-K filing on SEC EDGAR