Business Context and Reporting Period
Company: Assurant, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: January 31, 2012
Event: Entry into reinsurance agreements by certain subsidiaries with Ibis Re II Ltd., a special purpose reinsurance company domiciled in the Cayman Islands. This transaction is part of a fully collateralized catastrophe reinsurance bond program.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the announcement of the reinsurance transaction structure.
Material Changes
The filing reports the execution of new reinsurance agreements. No comparative financial data or material changes to prior period financial results are disclosed in this specific 8-K filing.
Guidance, Outlook, and Risks
Management Commentary: The company announced the establishment of a fully collateralized catastrophe reinsurance bond program to manage risk exposure.
Risks and Contingencies: The filing does not explicitly detail new risks or contingencies beyond the nature of the reinsurance transaction itself. Further details on the transaction are contained in the attached news release (Exhibit 99.1).
Investor Verification Checklist
- Review Exhibit 99.1 (News Release) for specific terms, coverage limits, and collateral details of the catastrophe reinsurance bond program.
- Verify the impact of this reinsurance structure on the company's future capital requirements and risk retention.
- Confirm the identity and creditworthiness of the special purpose reinsurance company, Ibis Re II Ltd.