Assurant, Inc. (NYSE:AIZ) provides specialty insurance through five segments: specialty property, health, employee benefits, and solutions (think extended services contracts, warranties, prepaid funeral insurance). The company has an investment grade rating from A. M. Best, see the ratings given to the company's subsidiaries below:
Further, the company is selling at a P/E of 7.7 and a 35% discount to tangible book, all while paying a 2% dividend and executing share repurchases last year equaling about 12% of the current market capitalization. We will take a look at all the features of this company but we first have to explain why the company actually is not selling below tangible book -- quite to the contrary.
|FREE||SA PRO MEMBERS|
|IDEA GENERATOR||X||Exclusive access to 10 PRO ideas every day|
|INVESTING IDEAS LIBRARY||X||Exclusive access to PRO library of more than 15,000 ideas|
|SECTOR EXPERT NETWORK||X||Exclusive access to all sector experts for direct consultation|
|PERFORMANCE TRACKING||X||Track performance of all PRO stock ideas|
|PROFESSIONAL TOOLS||X||Professional Idea Filters to zero-in based on industry, market cap and more|