Springfield operation boosts Assurant

Company’s earnings show gains in third quarter.


Assurant Inc. reported an increase in net income in its third quarter compared to last year, and the positive results were largely driven by the company’s Assurant Specialty Property, which has locations in Springfield and Dayton.

Third-quarter results show net income increased to $128.8 million, compared to $126.3 million at the same time last year. The company has four insurance services across the U.S., including about 2,300 workers in Clark County, making it one of the county’s largest employers. Earlier this year, the company also opened a satellite office in northeast Dayton.

The Springfield location primarily focuses on operational support for customers and clients of Assurant Specialty Property. Net operating income for that segment of the company increased 29 percent compared to the same time last year, from $89 million in 2012 to $115 million this year. The company’s net operating income also improved about 7 percent compared to the first nine months last year. Net operating income in other segments of the company declined compared to last year’s third quarter.

“We are pleased with the strong performance by Assurant Specialty Property and recognize the need for further improvements in our other businesses,” said Robert Pollack, President and CEO of Assurant, Inc. in a press release announcing the results.

The company attributed the success in Special Property to several factors, including growth in lender-placed loan portfolios and revenue increases from multi-family housing business.

According to information from financial research firm Zacks.com, third-quarter earnings exceeded expectations, coming in at $1.71 per share, ahead of initial estimates of $1.45 per share.

“Assurant’s better-than expected results were driven by strong performance by Assurant Specialty Property,” an analysis from Zack’s said.

Robert Byrd, a spokesman for Assurant, said the company does not typically comment on its earnings reports. But he said the company is still accepting applications for both its Springfield and Dayton locations.

“Growth in our business comes from serving clients and customers well, and as one of our largest service centers, our Springfield team plays a significant role in that,” said Gene Mergelmeyer, president and CEO, Assurant Specialty Property.

The Springfield location provides jobs for 1,800 workers at its site along I-70, as well as an additional 500 who work from home. About 150 workers are also now working in the company’s Dayton location, Byrd said.


Reader Comments ...


Next Up in Community News

Goodbye, Georgia Dome – thanks for the memories!
Goodbye, Georgia Dome – thanks for the memories!

As we say goodbye to the Georgia Dome after a quarter-century, it’s only fitting we look back at some it its most memorable moments. The Atlanta landmark was demolished at 7:30 a.m. Monday. The last event was held in the 25-year-old building in March, and the new Mercedes-Benz Stadium opened next door in August. >> Head to WSBTV...
LIVE: Implosion of the Georgia Dome
LIVE: Implosion of the Georgia Dome

Watch live as crews demolish the Georgia Dome in Atlanta.
Lena Dunham backtracks defense of 'Girls' producer accused of raping teen
Lena Dunham backtracks defense of 'Girls' producer accused of raping teen

Lena Dunham did a major backtrack following backlash from her decision to defend a “Girls” producer who was recently accused of raping a teenage girl. Actress Aurora Perrineau filed a police report against producer Murray Miller, saying that he raped her in 2012 when she was 17 and he was 35 years old, according to The Wrap...
Trump again lashes out at UCLA basketball dad LaVar Ball: 'Very ungrateful!'
Trump again lashes out at UCLA basketball dad LaVar Ball: 'Very ungrateful!'

President Donald Trump continued his Twitter roasting of UCLA basketball dad and Big Baller Brand mogul LaVar Ball on Sunday evening, calling him “very ungrateful” for not thanking him for getting his son out of trouble. “Shoplifting is a very big deal in China, as it should be (5-10 years in jail), but not to father LaVar. Should...
Raiders' Marshawn Lynch sits for U.S. national anthem, stands for Mexico's
Raiders' Marshawn Lynch sits for U.S. national anthem, stands for Mexico's

Star NFL running back Marshawn Lynch of the Oakland Raiders was spotted sitting on the sidelines as the U.S. national anthem played before a Sunday afternoon game in Mexico against the New England Patriots. >> Read more trending news Lynch appeared to take his demonstration a step further by standing during the Mexican national anthem...
More Stories