Quarterly earnings increase

Assurant, which owns and rebranded Protecta last year, has announced its financial results for the second quarter of the year ending June 30.

The US-based company says it produced strong results during the three-month period and has increased its full-year earnings forecast.

The company’s adjusted earnings before income, tax, depreciation and amortisation (Ebitda) increased by 19 per cent to US$386 million (about NZ$647m) in the second quarter, when compared to the same spell a year ago.

GAAP (generally accepted accounting principles) net income climbed by 25 per cent to US$235m, while net income per diluted share increased 27 per cent. Adjusted earnings per diluted share rose by 19 per cent to $20.35.

Keith Demmings, pictured, president and chief executive officer, says: “Supported by strong year-to-date performance, we are increasing our 2025 enterprise outlook. 

“We now expect adjusted earnings per share to approach 10 per cent growth and adjusted Ebitda to increase mid to high single-digits, both excluding reportable catastrophes. 

“In addition, we now expect to return US$250 to US$300 million in share repurchases, at the upper end of our 2025 guidance, reflecting our strong capital position and business performance.”

Assurant is a global provider of risk-management products and services with headquarters in Atlanta.