Assurant shares drop 8% on floods-driven profit warning

Assurant warned third quarter operating profits will plunge as
much as 48 percent mainly because of $32mn to $34mn in after-tax
catastrophe losses tied to flooding in Louisiana.
In a regulatory filing late yesterday, the company said there
were no catastrophe losses in the comparable 2015 period.
Assurant shares fell 8.4 percent to close at $83.65 in New York
Stock Exchange trading, although it is still up 3.9 percent this
year.
Hurricane Matthew, which ravaged the Caribbean and parts of...