Assurant Q1 profit rises as catastrophe losses shrink

Specialty insurer Assurant reported a 5.7 percent rise in net
operating profit to $105.9mn in the first quarter, thanks in part
to lower reportable catastrophe losses and to reserve releases.
The results, which translated into $1.87 per diluted share, also
benefitted from a one-off client recoverables uplift and improved
extended service contract profitability in Assurant's global
lifestyle unit. This was partially offset by ongoing declines in
lender-placed insurance in its global housing divis