Assurant closes $300 million senior notes offering at 5.550%

ATLANTA - Assurant, Inc. (NYSE:AIZ), a $10.6 billion market cap company with a strong financial health rating according to InvestingPro, announced Monday it has completed a public offering of $300 million in 5.550% Senior Notes due 2036.

The global protection company reported net proceeds of approximately $296 million after deducting underwriting discounts, commissions and estimated offering expenses. Assurant plans to use the proceeds to redeem all $175 million of its outstanding 6.100% Senior Notes due 2026, with the remainder allocated for related expenses and general corporate purposes. The company’s strong financial position is reflected in its 21-year streak of consecutive dividend increases.

Barclays Capital Inc. and Goldman Sachs & Co. LLC served as joint book-running managers for the offering, which was registered under the Securities Act of 1933.

The notes were issued under an effective shelf registration statement previously filed with the U.S. Securities and Exchange Commission.

Assurant, a Fortune 500 company operating in 21 countries, partners with brands to provide protection services for connected devices, homes, and automobiles. The company has delivered a 15% total return over the past year and appears undervalued according to InvestingPro’s Fair Value analysis. Discover more insights and 8 additional ProTips with an InvestingPro subscription.

The information in this article is based on a press release statement from Assurant.

In other recent news, Assurant announced a quarterly dividend of $0.80 per share, payable on September 29, 2025, to shareholders recorded by September 2, 2025. This decision reflects the company’s ongoing financial strategies and is subject to future assessments by its Board of Directors. Additionally, Assurant has made significant leadership changes, appointing Mike Campbell as the new Executive Vice President and Chief Operating Officer, effective September 15, 2025. Campbell will oversee Global Operations and Information Technology, having previously served as President of Global Housing.

Analyst firms have shown a positive outlook on Assurant’s stock. Keefe, Bruyette & Woods raised their price target for Assurant to $235 from $225, following a strong second-quarter earnings performance. Meanwhile, BMO Capital initiated coverage with an Outperform rating and a $238 price target, noting potential growth drivers such as anticipated market share gains in mobile protection services. BMO Capital also highlighted that securing a large client could significantly boost Assurant’s EBITDA. These developments indicate a period of strategic growth and optimism for the company.

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