Assurant (AIZ) Q1 Earnings & Revenues Top Estimates, Up Y/Y

Assurant, Inc. AIZreported first-quarter 2018 net operating income of $2 per share, which beat the Zacks Consensus Estimate by 5.8%. Also, the bottom line improved 6.9% from the year-ago period. Lower effective tax rate owing to the tax cut and decent underlying profitable growth in key businesses like mobile business and multi-family housing, drove this improvement.

However, higher level of net operating loss at the Corporate segment and a substantial catastrophe loss in Global Housing, partially offset this upside.