Assurant Q1 Earnings Call Highlights

Demmings said the institution utilized what helium called the “strength and flexibility” of its superior presumption to accelerate stock repurchases during the quarter, citing a “compelling valuation.”

Global Lifestyle posts grounds results arsenic Connected Living expands

Demmings said Global Lifestyle produced grounds earnings, with double-digit net maturation successful some Connected Living and Global Automotive. In Connected Living, helium said net accrued 18%, driven by enlargement with existing clients and optimization of precocious added programs.

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During prepared remarks, Demmings highlighted 4 mobile-related announcements and expansions that helium said bespeak Assurant’s momentum:

• T-Mobile: Demmings said Assurant deepened its narration with T-Mobile pursuing the carrier’s acquisition of UScellular, migrating “another ample in-force mobile subscriber base.” He said the company’s full devices protected present stands astatine astir 69 cardinal devices globally.

• Reverse logistics with different ample U.S. carrier: Demmings said a caller engagement expands services to enactment each instrumentality device and disposition channels, with devices processed done the company’s automated Nashville Device Care Center.

• Xfinity Mobile: Demmings said Assurant expanded its concern done a caller complaint program that includes beingness instrumentality extortion for phones, tablets, and watches, positive an “upgrade anytime” payment embedded successful Xfinity’s Mobile Plus plan.

• Verizon prepaid brands: Demmings said Verizon’s Total Wireless Protect was expanded to see a much broad nonaccomplishment and theft product, and that Straight Talk Protect was precocious launched.

In effect to expert questions, Demmings pointed to 3 main drivers down Connected Living’s quarter: maturation successful instrumentality extortion subscribers (up 4.3 cardinal year-over-year, helium said), maturing non-mobile programs specified arsenic relationships with Best Buy and Chase, and higher volumes successful devices serviced supported by reverse logistics investments. Both Demmings and CFO Keith Meier said they inactive spot “white space” for maturation successful Connected Living, including opportunities globally and successful extended work contracts and fiscal services.