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ASSURANT, INC. – 2014 Form 10-K F-59
22 Segment Information
The following tables summarize selected fi nancial information by segment:
Year Ended December 31, 2014
Solutions
Specialty
Property Health
Employee
Benefi ts
Corporate
& Other
Consolidated
Revenues
Net earned premiums $ 3,128,868 $ 2,506,097 $1,945,452 $ 1,051,725 $ — $ 8,632,142
Net investment income 382,640 101,908 35,369 117,192 19,320 656,429
Net realized gains on investments — — — — 60,783 60,783
Amortization of deferred gain on disposal of
businesses — — — — (1,506) (1,506)
Fees and other income 667,852 301,048 40,016 24,204 685 1,033,805
Total revenues 4,179,360 2,909,053 2,020,837 1,193,121 79,282 10,381,653
Benefi ts, losses and expenses
Policyholder benefi ts 1,027,469 1,085,339 1,575,633 716,892 — 4,405,333
Amortization of deferred acquisition costs and
value of business acquired 1,106,889 343,314 4,570 30,785 — 1,485,558
Underwriting, general and administrative
expenses 1,723,169 961,972 491,248 368,763 143,078 3,688,230
Interest expense — — — — 58,395 58,395
Total benefi ts, losses and expenses 3,857,527 2,390,625 2,071,451 1,116,440 201,473 9,637,516
Segment income (loss) before provision
(benefi t) for income taxes 321,833 518,428 (50,614) 76,681 (122,191) 744,137
Provision (benefi t) for income taxes 102,885 176,671 13,134 28,000 (47,460) 273,230
Segment income (loss) after taxes $ 218,948 $ 341,757 $ (63,748) $ 48,681 $ (74,731)
Net income $ 470,907
Segment assets:
Segment assets, excluding goodwill $ 14,260,609 $ 4,010,393 $1,210,615 $ 2,242,145 $ 8,997,465
$ 30,721,227
Goodwill 841,239
TOTAL ASSETS
$ 31,562,466
Year Ended December 31, 2013
Solutions
Specialty
Property Health
Employee
Benefi ts
Corporate
& Other
Consolidated
Revenues
Net earned premiums $ 2,783,758 $ 2,380,044 $ 1,581,407 $ 1,014,587 $ — $ 7,759,796
Net investment income 376,245 98,935 36,664 117,853 20,599 650,296
Net realized gains on investments — — — — 34,525 34,525
Amortization of deferred gain on disposal of
businesses — — — — 16,310 16,310
Fees and other income 400,370 133,135 29,132 23,434 659 586,730
Total revenues 3,560,373 2,612,114 1,647,203 1,155,874 72,093 9,047,657
Benefi ts, losses and expenses
Policyholder benefi ts 895,504 890,409 1,169,075 715,656 4,888 3,675,532
Amortization of deferred acquisition costs and
value of business acquired 1,132,298 309,332 801 27,856 — 1,470,287
Underwriting, general and administrative
expenses 1,341,961 758,941 434,749 360,303 138,450 3,034,404
Interest expense — — — — 77,735 77,735
Total benefi ts, losses and expenses 3,369,763 1,958,682 1,604,625 1,103,815 221,073 8,257,958
Segment income (loss) before provision
(benefi t) for income taxes 190,610 653,432 42,578 52,059 (148,980) 789,699
Provision (benefi t) for income taxes 65,458 229,846 36,721 17,506 (48,739) 300,792
Segment income (loss) after taxes $ 125,152 $423,586 $5,857 $34,553 $(100,241)
Net income $ 488,907
Segment assets:
Segment assets, excluding goodwill $ 13,321,648 $ 3,858,314 $ 884,077 $ 2,298,698 $ 8,567,391 $ 28,930,128
Goodwill 784,561
TOTAL ASSETS
$29,714,689