Courtesy of Benzinga.
Assurant, Inc. (“Assurant”) (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, announces that the Company’s board of directors has authorized the repurchase of up to $600 million of its common stock. This is in addition to approximately $170 million remaining as of April 30, 2012 from existing share repurchase authorizations.
“Assurant’s disciplined share repurchase strategy illustrates our commitment to deliver significant value to our shareholders, resulting in the purchase of approximately 43 percent of the company’s common shares outstanding during the past eight years,” said Robert B. Pollock, president and chief executive officer. “Our strong capital position provides the flexibility needed to repurchase shares, raise dividends to shareholders and pursue strategic acquisitions to achieve profitable growth.”
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.
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