Assurant Raises Share Buyback Authorization By $600 Mln - Quick Facts

(RTTNews) - Assurant, Inc. (AIZ), a provider of specialty insurance and insurance-related products and services, said the board has authorized the repurchase of up to $600 million of its stock, which is in addition to nearly $152 million remaining as of October 31, 2013 from the existing share buyback authorization. Through October 31, the firm's 2013 repurchases were seven million shares for around $351 million.

"This additional share repurchase reauthorization reflects our ongoing commitment to disciplined capital management," said Robert Pollock, president and chief executive of Assurant. He added, "Since our initial public offering, we've repurchased more than 50 percent of the company's common shares outstanding and increased our dividend every year. We will continue to balance investments in our businesses to generate profitable growth while at the same time returning capital to shareholders."