Segment Information (Tables)

12 Months Ended

Dec. 31, 2017

The following tables summarize selected financial information by segment:



	Year Ended December 31, 2017
							Total Corporate & Other
	Global Housing		Global Lifestyle		Global Preneed		Corporate & Other			Health			Total			Consolidated
Revenues
Net earned premiums	$	1,761.4	$	2,576.5	$	59.5	$	—		$	6.7		$	6.7		$	4,404.1
Fees and other income	413.6		819.7		121.5		24.8			3.5			28.3			1,383.1
Net investment income	75.6		114.6		262.0		35.1			6.5			41.6			493.8
Net realized gains on investments	—		—		—		30.1			—			30.1			30.1
Amortization of deferred gains and gains on disposal of businesses (1)	—		—		—		103.9			—			103.9			103.9
Total revenues	2,250.6		3,510.8		443.0		193.9			16.7			210.6			6,415.0
Benefits, losses and expenses
Policyholder benefits (2)	958.4		700.4		259.1		—			(47.3		)	(47.3		)	1,870.6
Amortization of deferred acquisition costs and value of business acquired	194.9		1,083.3		61.8		—			—			—			1,340.0
Underwriting, general and administrative expenses (3)	953.0		1,480.8		63.1		165.5			48.0			213.5			2,710.4
Interest expense	—		—		—		49.5			—			49.5			49.5
Total benefits, losses and expenses	2,106.3		3,264.5		384.0		215.0			0.7			215.7			5,970.5
Segment income (loss) before provision (benefit) for income taxes	144.3		246.3		59.0		(21.1		)	16.0			(5.1		)	444.5
Provision (benefit) for income taxes (4)	46.9		68.3		19.4		(215.1		)	5.4			(209.7		)	(75.1		)
Segment income after taxes	$	97.4	$	178.0	$	39.6	$	194.0		$	10.6		$	204.6
Net income																$	519.6

Segment assets (4):	$	4,809.6	$	9,497.6	$	6,827.1	$	10,633.6		$	75.1		$	10,708.7		$	31,843.0


(1)	The year ended December 31, 2017 includes $92.8 million related to the amortization of deferred gains and gains related to the AEB sale on March 1, 2016.

(2)

The presentation of Assurant Health policyholder benefits includes the impact of the total current period net utilization of premium deficiency reserves for claim costs and claim adjustment expenses included in policyholder benefits, as well as maintenance costs, which are included within underwriting, general and administrative expenses. For the year ended December 31, 2017, the premium deficiency reserve liability decreased $35.7 million, through an offset to policyholder benefit expense. In addition, there was favorable claims development experienced through December 31, 2017, in excess of actual benefit expense, which contributed to the credit balance within policyholder benefits expenses.


(3)	The year ended December 31, 2017 for Corporate & Other includes an expense of $17.4 million related to post-close adjustment pertaining to an estimated indemnification that is expected to be due on a previous disposition.

(4)

The consolidated net benefit for income taxes for the year ended December 31, 2017 includes a $177.0 million one-time benefit from the reduction of net deferred tax liabilities following the enactment of the U.S. Tax Cuts and Jobs Act. The remeasurement of deferred tax assets and liabilities was recorded using our best estimate of deferred tax balances as of December 22, 2017, the enactment date of the legislation. The total benefit for income taxes was reported through the Corporate & Other segment; however, the remeasured deferred tax assets and liabilities were adjusted within each segment. Refer to Note 9, Income Taxes, for further detail.



	Year Ended December 31, 2016
							Total Corporate & Other
	Global Housing		Global Lifestyle		Global Preneed		Corporate & Other		Health			Total			Employee Benefits		Consolidated
Revenues
Net earned premiums	$	1,829.1	$	2,901.4	$	61.7	$	—	$	37.1		$	37.1		$	178.0	$	5,007.3
Fees and other income	459.7		804.7		109.6		24.5		19.8			44.3			4.2		1,422.5
Net investment income	72.7		113.1		259.8		44.0		8.8			52.8			17.3		515.7
Net realized gains on investments (4)	—		—		—		162.2		—			162.2			—		162.2
Amortization of deferred gains and gains on disposal of businesses (1)	—		—		—		394.5		—			394.5			—		394.5
Gain on pension plan curtailment	—		—		—		29.6		—			29.6			—		29.6
Total revenues	2,361.5		3,819.2		431.1		654.8		65.7			720.5			199.5		7,531.8
Benefits, losses and expenses
Policyholder benefits (2)	828.6		663.8		250.4		—		(52.7		)	(52.7		)	118.4		1,808.5
Amortization of deferred acquisition costs and value of business acquired	238.2		1,045.9		61.4		—		—			—			5.8		1,351.3
Underwriting, general and administrative expenses (3)	1,013.7		1,901.8		55.5		244.6		165.7			410.3			61.5		3,442.8
Interest expense	—		—		—		57.6		—			57.6			—		57.6
Loss on extinguishment of debt	—		—		—		23.0		—			23.0			—		23.0
Total benefits, losses and expenses	2,080.5		3,611.5		367.3		325.2		113.0			438.2			185.7		6,683.2
Segment income (loss) before provision (benefit) for income taxes	281.0		207.7		63.8		329.6		(47.3		)	282.3			13.8		848.6
Provision (benefit) for income taxes	92.4		53.3		21.5		117.0		(6.3		)	110.7			5.3		283.2
Segment income (loss) after taxes	$	188.6	$	154.4	$	42.3	$	212.6	$	(41.0	)	$	171.6		$	8.5
Net income																	$	565.4

Segment assets:	$	3,836.5	$	8,747.0	$	6,421.1	$	10,457.8	$	246.7		$	10,704.5		$	—	$	29,709.1


(1)	The year ended December 31, 2016 includes $382.6 million related to the amortization of deferred gains and gains related to the AEB sale on March 1, 2016.

(2)

The presentation of Assurant Health policyholder benefits includes the impact of the total current period net utilization of premium deficiency reserves for claim costs and claim adjustment expenses included in policyholder benefits, as well as maintenance costs, which are included within underwriting, general and administrative expenses. For the year ended December 31, 2016, the premium deficiency reserve liability decreased $37.6 million through an offset to policyholder benefit expense.

(3)

The year ended December 31, 2016 for Corporate & Other includes a $16.7 million intangible asset impairment charge related to trade names that will no longer be used or defended by the Company, and the year ended December 31, 2016 for Corporate & Other includes expense of $23.0 million related to post-close adjustment pertaining to an estimated indemnification that is expected to be due on a previous disposition.


(4)	The year ended December 31, 2016 includes $146.7 million of net realized gains related to assets transferred as part of the AEB sale on March 1, 2016.



	Year Ended December 31, 2015
							Total Corporate & Other
	Global Housing		Global Lifestyle		Global Preneed		Corporate & Other			Health			Total			Employee Benefits		Consolidated
Revenues
Net earned premiums	$	2,044.7	$	2,955.4	$	60.4	$	—		$	2,223.7		$	2,223.7		$	1,066.8	$	8,351.0
Fees and other income	405.5		678.6		107.1		32.7			54.6			87.3			25.0		1,303.5
Net investment income	92.8		126.9		249.8		21.2			24.5			45.7			111.0		626.2
Net realized gains on investments	—		—		—		31.8			—			31.8			—		31.8
Amortization of deferred gains and gains on disposal of businesses	—				—		13.0			—			13.0			—		13.0
Total revenues	2,543.0		3,760.9		417.3		98.7			2,302.8			2,401.5			1,202.8		10,325.5
Benefits, losses and expenses
Policyholder benefits (2)	788.5		679.8		239.7		3.1			2,301.2			2,304.3			730.2		4,742.5
Amortization of deferred acquisition costs and value of business acquired	280.4		1,022.0		56.6		—			10.7			10.7			32.9		1,402.6
Underwriting, general and administrative expenses	1,010.5		1,847.8		55.9		127.3			516.7			644.0			365.9		3,924.1
Interest expense	—		—		—		55.1			—			55.1			—		55.1
Total benefits, losses and expenses	2,079.4		3,549.6		352.2		185.5			2,828.6			3,014.1			1,129.0		10,124.3
Segment income (loss) before provision (benefit) for income taxes	463.6		211.3		65.1		(86.8		)	(525.8		)	(612.6		)	73.8		201.2
Provision (benefit) for income taxes	155.9		58.3		20.9		(44.1		)	(157.9		)	(202.0		)	26.5		59.6
Segment income (loss) after taxes	$	307.7	$	153.0	$	44.2	$	(42.7	)	$	(367.9	)	$	(410.6	)	$	47.3
Net income																		$	141.6

(1)

The presentation of Assurant Health policyholder benefits includes the impact of the total current period net utilization of premium deficiency reserves for claim costs and claim adjustment expenses included in policyholder benefits, as well as maintenance costs, which are included within underwriting, general and administrative expenses. For the year ended December 31, 2015, the premium deficiency reserve liability decreased $44.5 million through an offset to policyholder benefit expense.

Summary Of Financial Information By Geographic Location

The following table summarizes selected financial information by geographic location for the years ended or as of December 31:



Location	Revenues		Long-lived assets
2017
United States	$	4,980.8	$	339.5
Foreign countries	1,434.2		8.1
Total	$	6,415.0	$	347.6
2016
United States	$	6,239.7	$	336.8
Foreign countries	1,292.1		6.8
Total	$	7,531.8	$	343.6
2015
United States	$	8,917.7	$	293.9
Foreign countries	1,407.8		4.5
Total	$	10,325.5	$	298.4

Summary Of Net Earned Premiums By Segment And Product

The Company’s net earned premiums, fees and other income by segment and product are as follows:



	2017		2016		2015
Global Housing:
Lender-placed insurance	$	1,224.9	$	1,317.2	$	1,561.4
Multi-family housing	366.3		320.9		282.7
Mortgage solutions	257.7		329.3		289.5
Manufactured housing and other	326.1		321.4		316.6
Total	$	2,175.0	$	2,288.8	$	2,450.2
Global Lifestyle:
Global connected living (mobile and service contracts)	$	2,156.0	$	2,570.1	$	2,551.0
Global vehicle protection services	782.8		715.8		608.4
Global credit and other	457.4		420.2		474.6
Total	$	3,396.2	$	3,706.1	$	3,634.0

Global Preneed:	$	181.0	$	171.3	$	167.5

Health (1):	$	10.2	$	56.9	$	2,278.3

Employee Benefits (2):	$	—	$	182.2	$	1,091.8


(1)	The Health business has been in run-off since 2015 and previously included individual and small employer group products.

(2)

The Employee Benefits business was sold on March 1, 2016 and previously included group disability, group dental, group life and group supplemental and vision products.