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Assurant projects higher FY'19 net operating income

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Assurant projects higher FY'19 net operating income

Assurant Inc. expects potential double-digit growth in its net operating income per share in 2019.

The company said it anticipates 6% to 10% year-over-year growth, excluding catastrophe losses, and including an estimated negative impact of about 2% due to incremental reinsurance costs, for the full year.

It also expects 12% average annual growth for 2020 and 2021. For 2019, interest expense is expected to be within the range of $83 million to $85 million, while preferred dividends are anticipated to be about $20 million.

The company also anticipates returning about $1.35 billion to its shareholders through the end of 2021 through buybacks and dividends.