Assurant (AIZ) Announces New Max $600M Share Buyback Authorization

Assurant, Inc. (NYSE: AIZ), a global provider of risk management solutions, today announced that the company's board of directors authorized a new repurchase program for up to $600 million of the Company’s outstanding common stock. The new share repurchase program will take effect upon completion of the Company’s current program, which has approximately $176 million of authorization remaining as of November 2, 2018.

“Assurant’s significant cash flow generation has afforded us the ability to drive strategic, disciplined investments in our business to support long-term profitable growth, while also returning excess capital to shareholders through share repurchase and dividends,” said Alan Colberg, Assurant president and chief executive officer. “This new authorization underscores our long-term commitment to being good stewards of our capital.”

The share repurchase program may use open market and/or private transactions. The timing of purchases will be subject to management evaluation of current market conditions, applicable legal requirements and other factors.

Since its initial public offering in 2004, Assurant has repurchased 61 percent of its issued common shares(1), or 99.1 million shares, for $5.0 billion.

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