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Assurant To Resume Share Buybacks

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A multi-line insurer says it wants to return to investing in its own stock.

Assurant Inc., New York, says it will resume a share buyback program that it suspended in September 2007.

If the credit markets improve, Assurant could use the program to buy up to $30 million in company stock between Nov. 11 and Jan. 31, 2009, the company says.

“We believe the benefit of our diverse specialty business model is not fully reflected in our stock price and remains a compelling driver of shareholder value,” Assurant President Robert Pollock says in a statement.