Finance, Preneed

Assurant reports 3rd Quarter 2019

Assurant is a leading global provider of housing and lifestyle solutions that support, protect and connect major consumer purchases.  In relation to the death care industry they are a provider of pre-need or what they call “pre-funded funeral insurance”.  Assurant is a Fortune 500 company with a presence in 21 countries.

They recently reported their 3rd Quarter results for 2019 and you can see them here.  In those results they reported $104.8 million of operating income of which $7.4 million came from what they refer to as their “Global Preneed” division.  The Global Preneed division, for the 3rd quarter reported premiums, fees, and other income of $50.8 million which is a 6% increase over the same period of 2018.  In addition, for the first nine months of the 2019 year, the Global Preneed division reported premiums, fees, and other income of $149.5 million as compared to $141.2 million for the first nine months of 2018. . . again an increase of 6%.

The company reported in their Global Preneed notes that the increase in premiums, fees, and other income in 2019 has been driven primarily by growth in prefunded funeral policies in the United States.

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