Assurant posts higher Preneed Sales and Profits

Assurant Preneed, a component of Assurant, posted higher revenue and higher profits in their 3Q 2018 results that were made public after the market on Tuesday.  You can read the company’s press release on its earnings report here.

Assurant, a member of the Death Care Index (DCI), operates a world-wide conglomerate composed of three segments — Global Housing, Global Lifestyle, and Global Preneed.  The entire company has posted solid financials in 2018 reporting a $216.5 million profit for the first nine months compared to $206.7 for the first nine months of 2017.

Most important to us in the death care industry is their preneed division.  For that division, insurance face value sales increased 13.2% for the quarter to $249.1 million as compared to $220.0 million a year ago.  Global Preneed profits for the quarter came in at $16.8 million – up 36.6% over the 3Q results from a year ago.  For the nine months ending with the 3Q, Global Preneed shows a profit of $41.3 million as compared to $35.0 million from last year (up 18%).

According to their press release, Global Preneed “continues to benefit from its alignment with market leaders and new distribution partners.”

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