Assurant 2011 Annual Report Download - page 78
Download and view the complete annual report
Please find page 78 of the 2011 Assurant annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78 -
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88 -
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
 |
 |
ASSURANT, INC.2011 Form10-KF-2
Consolidated Balance Sheets
AT DECEMBER 31, 2011 AND 2010
(in thousands except number of shares and per share amounts)
December31, 2011 December31, 2010
ASSETS
Investments:
Fixed maturity securities available for sale, at fair value (amortized cost—$10,123,429 in 2011
and$10,009,320 in 2010 ) $ 11,192,599 $ 10,612,552
Equity securities available for sale, at fair value (cost—$357,411 in 2011 and $452,648 in 2010) 362,376 466,954
Commercial mortgage loans on real estate, at amortized cost 1,309,687 1,320,964
Policy loans 54,192 56,142
Short-term investments 441,383 358,702
Collateral held/pledged under securities agreements 95,221 136,589
Other investments 570,707 567,945
Total investments 14,026,165 13,519,848
Cash and cash equivalents 1,166,713 1,150,516
Premiums and accounts receivable, net 649,122 542,927
Reinsurance recoverables 5,411,064 4,997,316
Accrued investment income 153,783 147,069
Deferred acquisition costs 2,632,720 2,493,422
Property and equipment, at cost less accumulated depreciation 242,908 267,169
Deferred income taxes, net — 76,430
Goodwill 639,097 619,779
Value of business acquired 71,014 82,208
Other intangible assets, net 303,832 311,509
Other assets 124,298 188,454
Assets held in separate accounts 1,694,729 2,000,371
TOTAL ASSETS $ 27,115,445 $ 26,397,018
LIABILITIES
Future policy bene ts and expenses $ 8,269,343 $ 8,105,153
Unearned premiums 5,482,017 5,063,999
Claims and bene ts payable 3,437,119 3,351,169
Commissions payable 260,022 275,409
Reinsurance balances payable 130,144 104,333
Funds held under reinsurance 64,413 65,894
Deferred gain on disposal of businesses 134,033 154,493
Obligation under securities agreements 95,494 137,212
Accounts payable and other liabilities 1,486,026 1,339,582
Deferred income taxes, net 32,460 —
Tax payable 30,431 41,702
Debt 972,278 972,164
Mandatorily redeemable preferred stock — 5,000
Liabilities related to separate accounts 1,694,729 2,000,371
TOTAL LIABILITIES 22,088,509 21,616,481
Commitments and contingencies (Note25)
STOCKHOLDERS’ EQUITY
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 88,524,374 and 102,000,371
shares outstanding at December31,2011 and 2010, respectively 1,464 1,453
Additional paid-in capital 3,025,477 2,993,957
Retained earnings 3,742,479 3,264,025
Accumulated other comprehensive income 554,867 285,524
Treasury stock, at cost; 57,433,178 and 43,344,638 shares at December31,2011 and 2010, respectively (2,297,351) (1,764,422)
Total stockholders’ equity 5,026,936 4,780,537
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 27,115,445 $ 26,397,018
See the accompanying notes to the consolidated financial statements.