Business Context and Reporting Period
This Form 8-K is a current report filed by Assurant, Inc. on January 14, 2011, regarding events occurring on January 18, 2011. The filing discloses a significant corporate action authorized by the Board of Directors concerning the company's capital allocation strategy.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, or debt levels. The only financial data disclosed relates to share repurchase authorizations:
- New Repurchase Authorization: Up to $600 million aggregate cost at purchase.
- Remaining Prior Authorization: Approximately $206 million aggregate cost at purchase remaining as of January 14, 2011.
- Total Potential Repurchase Capacity: Approximately $806 million (combined new and remaining authorizations).
Material Changes
The primary material change is the expansion of the company's share repurchase program. The Board authorized an additional $600 million in repurchases, significantly increasing the total capital available for returning value to shareholders beyond the existing $206 million balance.
Guidance, Outlook, and Risks
The filing does not contain updated financial guidance, forward-looking outlook statements, or specific risk factors. The announcement is strictly limited to the authorization of the stock repurchase program. No unusual items or contingencies are disclosed in this report.
Investor Verification Checklist
- Verify the exact terms and conditions of the new $600 million repurchase authorization in the attached news release (Exhibit 99.1).
- Confirm the total remaining authorization balance ($806 million) against the company's current cash position and liquidity needs.
- Monitor future 8-K filings or quarterly reports for actual execution of the repurchase program.
- Review the company's most recent 10-K or 10-Q for baseline financial health, as this 8-K does not contain operational financial data.