Assurant Q3 profit surges on growth in global housing unit, investment returns

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- Insurer Assurant reported a surge in third-quarter adjusted profit on Tuesday, helped by the strong performance of its global housing unit and higher investment returns, sending shares up 2.7% in aftermarket trading.

"Global Housing's top-line momentum and improving loss experience combined with Global Lifestyle's growing U.S. mobile business produced significant year-over-year earnings growth," said CEO Keith Demmings. Assurant's net investment income rose to $125.5 million in the third quarter, compared with $83.5 million a year earlier.

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