WASHINGTON (dpa-AFX) - Assurant Inc. (AIZ) Wednesday reported first-quarter profit of $117.8 million or $1.46 per share, down from $163.3 million or $1.81 per share in the same period last year.
On average, seven analysts polled by Thomson Reuters expected the company to earn $1.57 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues improved to $2.15 billion from $2.07 billion last year. Analysts expected revenues of $2.11 billion.
Net earned premiums, fees and other income amounted to $2.0 billion, up from $1.9 billion last year, reflecting continued growth at Assurant Solutions and Assurant Specialty Property.
Net-investment income decreased to $166.0 million from $172.3 million due to lower money investment yields.
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