(Bloomberg) – Assurant Inc., the insurer that sells coverage protecting mobile phones and homes, posted the biggest decline in the S&P 500 Index after third-quarter profit slumped.
The insurer dropped $7.65, or 8.4 percent, to $83.65 at 4:02 p.m. in New York trading, the biggest fall since February. That narrowed the company's advance for the year to 3.9 percent.
Net operating income was $54 million to $66 million, compared with $104 million in last year's third quarter, the New York-based company said late Tuesday in a regulatory filing with preliminary results.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
