Assurant 2015 Annual Report Download - page 14

ASSURANT, INC. – 2015 Form 10-K2
Amounts are presented in United States of America (“U�S�”) dollars and all amounts are in thousands, except for number
of shares, per share amounts, registered holders, number of employees, benecial owners, number of securities in an
unrealized loss position and number of loans�
Forward-Looking Statements
Some statements under “Business,” “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” and
elsewhere in this report, particularly those anticipating future
nancial performance, business prospects, growth and operating
strategies and similar matters, are forward-looking statements
within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995� You can identify these statements by the
use of words such as “will,” “may,” “anticipates,” “expects,”
“estimates,” “projects,” “intends,” “plans,” “believes,”
“targets,” “forecasts,” “potential,” “approximately,” or the
negative version of those words and other words and terms with
a similar meaning. Any forward-looking statements contained
in this report are based upon our historical performance and
on current plans, estimates and expectations� The inclusion
of this forward looking information should not be regarded
as a representation by us or any other person that the future
plans, estimates or expectations contemplated by us will be
achieved. Our actual results might differ materially from those
projected in the forward-looking statements. Assurant, Inc.
(“the Company”) undertakes no obligation to update or review
any forward-looking statement, whether as a result of new
information, future events or other developments.
In addition to the factors described under “Critical Factors
Affecting Results,” the following risk factors could cause
our actual results to differ materially from those currently
estimated by management:
i� actions by governmental agencies or government
sponsored entities or other circumstances, including
pending regulatory matters affecting our lender-placed
insurance business, that could result in reductions
of premium rates or increases in expenses, including
claims, nes, penalties or other expenses;
ii� inability to implement, or delays in implementing,
strategic plans for the Assurant Employee Benets
and Assurant Health segments;
iii� loss of signicant client relationships or business,
distribution sources or contracts and reliance on a
few clients;
i v. the effects of the Patient Protection and Affordable Care
Act and the Health Care and Education Reconciliation
Act of 2010 (the “Affordable Care Act”), and the
rules and regulations thereunder, on our health and
employee benets businesses;
v. potential variations between the nal risk adjustment
amount and reinsurance amounts, as determined by the
U.S. Department of Health and Human Services under
the Affordable Care Act, and the Company’s estimate;
vi. unfavorable outcomes in litigation and/or regulatory
investigations that could negatively affect our results,
business and reputation;
vii. inability to execute strategic plans related to
acquisitions, dispositions or new ventures;
viii. failure to adequately predict or manage benets,
claims and other costs;
ix� inadequacy of reserves established for future claims;
x� current or new laws and regulations that could increase
our costs and decrease our revenues;
xi� signicant competitive pressures in our businesses;
xii� failure to attract and retain sales representatives,
key managers, agents or brokers;
xiii� losses due to natural or man-made catastrophes;
x i v. a decline in our credit or nancial strength ratings
(including the risk of ratings downgrades in the
insurance industry);
x v. deterioration in the Company’s market capitalization
compared to its book value that could result in an
impairment of goodwill;
xvi. risks related to our international operations, including
uctuations in exchange rates;
xvii. data breaches compromising client information and
privacy;
xviii. general global economic, nancial market and political
conditions (including difcult conditions in nancial,
capital, credit and currency markets, the global
economic slowdown, uctuations in interest rates or
a prolonged period of low interest rates, monetary
policies, unemployment and inationary pressure);
xix� cyber security threats and cyber attacks;
xx� failure to effectively maintain and modernize our
information systems;
xxi� uncertain tax positions and unexpected tax liabilities;
xxii� risks related to outsourcing activities;
xxiii� unavailability, inadequacy and unaffordable pricing
of reinsurance coverage;
xxiv. diminished value of invested assets in our investment
portfolio (due to, among other things, volatility in
nancial markets; the global economic slowdown;
credit, currency and liquidity risk; other than temporary
impairments and increases in interest rates);
xxv. insolvency of third parties to whom we have sold or
may sell businesses through reinsurance or modied
co-insurance;
xxvi. inability of reinsurers to meet their obligations;
xxvii. credit risk of some of our agents in Assurant Specialty
Property and Assurant Solutions;
xxviii. inability of our subsidiaries to pay sufcient dividends;
xxix� failure to provide for succession of senior management
and key executives; and
xxx� cyclicality of the insurance industry�
For a more detailed discussion of the risk factors that could affect
our actual results, please refer to “Critical Factors Affecting
Results” in Item 7 and “Risk Factors” in Item 1A of this Form 10-K.