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Stock Market & Financial Investment News

News Breaks
May 16, 2014
07:52 EDTAIZAssurant downgraded at BofA/Merrill
As previously reported, BofA/Merrill downgraded Assurant to Underperform from Neutral. The firm downgraded shares based on flat organic growth, rich valuation vs. book value and buybacks that are not longer accretive. Price target is $73.
News For AIZ From The Last 14 Days
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October 16, 2014
18:27 EDTAIZGlobal Indemnity to purchase American Reliable Insurance from Assurant
Global Indemnity's (GBLI) U.S. affiliate agreed to purchase American Reliable Insurance Company from Assurant (AIZ). In a transaction with an enterprise value of approximately $394M, Global Indemnity's U.S. division will pay approximately $114M in cash to Assurant at closing - which could be increased to approximately $120M to account for net earnings between June 30 and the closing - and assume approximately $280M in customary insurance related liabilities, obligations, and mandates.
18:21 EDTAIZAssurant to sell American Reliable Insurance to Global Indemnity for $114M cash
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