Earnings hit double digits

Assurant, which owns and recently rebranded Protecta, has announced results for its full year ending December 31.

The US-based company delivered a second consecutive year of double-digit earnings and earnings per share growth in 2024 with profitable growth expected to continue in 2025.

Keith Demmings, pictured, president and chief executive officer, says: “2024 was a testament to the power of our differentiated business model as we delivered strong results.

“Our momentum with clients is at an all-time high following significant multi-year contract renewals and the addition of several new partnerships with industry leaders – demonstrating the trust placed in Assurant, and the value of our products and services.

“As we enter 2025, Assurant is focused on executing our growth strategy as we scale new partnerships, invest in product innovation and accelerate emerging growth opportunities. 

“As we further elevate the customer experience, we believe we are well-positioned to continue our track record of growth.”

The company’s adjusted earnings before income, tax, depreciation and amortisation increased by 15 per cent to US$1.57 billion – or about NZ$2.76b – in 2024 compared to the previous year.

GAAP (generally accepted accounting principles) net income climbed by 18 per cent, while net income per diluted share increased 21 per cent. Adjusted earnings per diluted share rose by 19 per cent to $20.35.
Assurant is a global provider of risk-management products and services with headquarters in Atlanta.