Tag: Assurant

Preneed

Assurant closes sale of Global Preneed unit to CUNA Mutual Group

In a follow-up to what Funeral Director Daily reported in March, this press release will inform you that Madison, Wisconsin, based CUNA Mutual Group has closed on its acquisition of Assurant Global Preneed.  The press release states that the purchase price was approximately $1.35 billion. Assurant CEO Alan Colberg said this in the release, “This sale marks an important milestone in the transformation of Assurant, sharpening our focus on our market-leading lifestyle and housing businesses, and better positioning our company […]

Finance

Death Care outpaces Dow, Nasdaq, and S&P for first third of 2021

For the first time that I can remember since I have followed what is termed the Death Care Index (DCI), the DCI for a period of time has outpaced the standard measures of America’s public companies, the Dow Jones Industrial Average, the Nasdaq, and the S & P 500.  For the time period of January 1, 2021, through the close of business last Friday, April 30, 2021, the Death Care Index has grown at a pace of 17.7%. The DCI, […]

Finance Preneed

Assurant Preneed acquired by CUNA

CUNA Mutual Group announced last week in this press release that it intends to acquire the preneed funeral business of global conglomerate Assurant.  We told you late last year, in this article, that Assurant was expected to move on from the preneed business as it concentrated on other business elements. The reported purchase price by CUNA Mutual Group is $1.3 billion. According to the linked press release, “CUNA Mutual Group, a broad financial services provider, announced it has entered into […]

Finance

Checking in on the DCI. . . up over 10% year to date

The last time we checked in on Funeral Director Daily’s proprietary Death Care Index (DCI) was in this article from January 4, 2021.  At that time we noted that the stock index of companies in the death care realm had a total return (capital appreciation plus dividend) of about 6.85% for the calendar year of 2020.  We mentioned that was not as high as the returns of the NASDAQ index or the S&P 500, but it was a solid “grind […]

Finance Preneed

Assurant reports. . . . Preneed seems to be “up in the air”

Worldwide insurance conglomerate Assurant reported both its 4Q 2020 and its Full Year 2020 results last week.  The company reports in three distinctive segments — Global Housing, Global Lifestyle, and Global Preneed. The total Earned Premiums of the entire company for the Full Year 2020 combined to $9.52 billion which is a better than 2% increase over the combined Earned Premiums of about $9.33 billion in FY 2019.  The company press release, which you can read here, had this to […]

Finance

2020: A look back at the public companies

There are a lot of reasons that people may look to get the year 2020 in their rearview mirror.  However, when you look individually at the performance of the public companies in the death care realm for the calendar year, my guess is that almost all of them would be happy to repeat the year’s performance in 2021. The trend among the public companies in 2020 could certainly be classified as COVID, leadership, and lawsuits.  And, who would have thought […]

Finance

Death Care Index still lags the market

We checked into Funeral Director Daily’s proprietary Death Care Index (DCI) after the markets closed on Monday, the last day of November.  That check-in allowed us to take a look at the eight stocks that make up the DCI and see where they were individually and as a group and how that group compared to the Dow Jones average, the S & P 500, and the technology based Nasdaq. And, while the Dow Jones counted November 2020 as its best […]

Preneed

Assurant reports 3Q 2020

In late October Assurant hinted that they will be divesting what they call their Global Preneed business.  That segment of their business consists of preneed funeral insurance products and Final Need insurance products. In reporting the company’s 3rd Quarter financial results, CEO Alan Colberg gave another hint as to the Global Preneed business potentially disappearing from the Assurant portfolio of businesses.  He did not mention Global Preneed at all when he said of 3Q results, “Our third quarter 2020 performance […]

Finance Preneed

Assurant looks to make changes. . .including divesting Global Preneed division

Last week Assurant, the large financial conglomerate with operations in 21 countries, announced that they would acquire mobile device software as a service (SaaS) business HYLA.  You can read about that in this Associated Press release. In conjunction with that announcement, Assurant also made other announcements including a strategy to divest themselves of what they term their Global Preneed Division.  Assurant has been in the preneed business for over 50 years and you can read about that division here. Here […]

Finance Preneed

Assurant Global Preneed division reports slight revenue increase, less operating income

Assurant defines itself as “a leading global provider of lifestyle and housing solutions that support, protect and connect major consumer purchases”.  The company released its 2nd Quarter 2020 results on Tuesday, August 4, and in doing so reported a Net Income of $173.5 million, which is up 24 percent from the same period in 2019.  Assurant also notes that it returned $65 million to shareholders in share repurchases and common dividends.  You can see their 2nd Quarter 2020 report here. […]