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    Assurant's net income swung to $162.3M in Q4

    Associated Press – Wed, Feb 1, 2012

    NEW YORK (AP) — Assurant Inc., a specialized insurance provider, said Wednesday that its fourth-quarter net income swung to $162.3 million from a net loss of $184.4 million a year earlier as it targeted its products more closely to consumers' needs.

    The company's net income in for October to December last year worked out to $1.73 a share, compared with a loss of $1.74 a share in the same period in 2010.

    Fourth-quarter revenue edged up to $2.11 billion from $2.10 billion.

    Assurant sells specialty property insurance, employee benefits and health insurance. Its other business units provide such services as funeral insurance, group dental insurance, group life and warranties and service contracts.

    For the full year, Assurant's net income nearly doubled, to $545.8 million, or $5.58 a share, from $279.2 million, or $2.50 a share, in 2010. Revenue fell to $8.27 billion from $8.53 billion.

    Shares of New York-based Assurant rose 91 cents to end at $40.51 Wednesday.

     

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