Assurant's quarterly profit rises on global lifestyle, housing business strength

• The company reported a quarterly adjusted profit of $6.41 per share, compared with $5.10 per share a year earlier.
• Net income came in at $298.6 million in the three months ended June 30, up 27% from a year earlier.

"Performance extends the momentum we carried into the year and reflects the strength and durability of our business model, including record earnings within Global Lifestyle," CEO Keith Demmings said in a statement.

• Quarterly net earned premiums, fees and other income at its global housing unit, which provides lender-placed homeowners, manufactured housing and flood insurance, rose 7% from a year earlier.
• Its global lifestyle business, which provides mobile device protection and trade-in services, as well as technical support, reported a 9% increase in net earned premiums, fees and other income in the quarter.

Assurant AIZ.N reported a surge in second-quarter adjusted profit on Tuesday on strong growth in its global housing and lifestyle businesses, reflecting continued momentum in insurance spending.

The specialty insurer's upbeat results add to signs that the industry has benefited despite broader economic uncertainty.