Assurant, Inc. (NYSE: AIZ), a leading global business services company that supports, protects and connects major consumer purchases, today reported results for the fourth quarter and full year ended December 31, 2023.
“We are pleased with our exceptionally strong results in 2023, representing Assurant’s seventh consecutive year of profitable growth. Our success was driven by our intense focus on strategic, financial and operational outperformance, allowing us to strengthen our competitive positioning across our global businesses and ultimately create meaningful shareholder value,” said Assurant President and CEO Keith Demmings.
“We expect earnings growth to continue into 2024 as we enter the year from a position of strength. Our targeted investments in our talent, technology and product innovation continue to strengthen our client partnerships and attract key prospects across the globe. This momentum, combined with an unwavering focus on operational excellence, position us well to deliver on our financial objectives,” Demmings added.
Note: The metrics included within the company’s outlook are non-GAAP financial measures and the company believes that it cannot, without unreasonable efforts, forecast certain information needed to reconcile to the GAAP measures, the probable significance of which cannot be determined. More information can be found in the Non-GAAP Financial Measures section.
(Unaudited) |
Q4’23 |
|
Q4’22 |
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Change |
|
12M’23 |
|
12M’22 |
|
Change |
$ in millions, except per share data |
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|
|
|
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GAAP net income |
182.5 |
|
68.1 |
|
168% |
|
642.5 |
|
276.6 |
|
132% |
Adjusted EBITDA1 |
360.8 |
|
274.2 |
|
32% |
|
1,257.5 |
|
956.2 |
|
32% |
Adjusted EBITDA, ex. reportable catastrophes2 |
382.4 |
|
296.3 |
|
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