Assurant reported a slight increase in net operating income for the second quarter this year, which company officials attributed in part to lower corporate expenses.
Net operating income for the quarter was $90.5 million, a roughly 2 percent increase compared to the same quarter last year. Springfield is the home of Assurant’s Global Housing Division, which provides insurance and related services in partnership with financial institutions and other major clients. It is one of Clark County’s largest employers with more than 1,800 workers.
READ MORE: Assurant hiring for 100 jobs
Workers at the company’s Springfield office provide operational support for customers and clients of the company’s Global Housing Division.
“Overall results in the second quarter were in line with our expectations, despite higher non-catastrophe claims,” said Alan Colberg, the company’s president and CEO.
Net operating income for the Global Housing Division was $56 million, about level with the same quarter last year. That segment’s income also reflected $16 million in lower reportable catastrophes year-over-year, according to information from the company.
Assurant’s net operating income also benefitted significantly from lower corporate expenses, according to information from the company Wednesday. Assurant reported corporate and other expenses of about $19.4 million for the second quarter last year, compared to about $10.6 million in costs in the second quarter this year.
“We’ve made continued progress toward achieving our 2017 commitments, including capital deployment,” Colberg said in a press release. “And we remain confident that our ongoing transformation is establishing a firm foundation for profitable growth in 2018 and beyond.”
Thank you for reading the Springfield News-Sun and for supporting local journalism. Subscribers: log in for access to your daily ePaper and premium newsletters.
Thank you for supporting in-depth local journalism with your subscription to the Springfield News-Sun. Get more news when you want it with email newsletters just for subscribers. Sign up here.