Segment Information

The Company has five reportable segments, which are defined based on the nature of the products and services offered: Assurant Solutions, Assurant Specialty Property, Assurant Health, Assurant Employee Benefits, and Corporate & Other. Assurant Solutions provides mobile device protection products and services; debt protection administration; credit insurance; extended service products and related services for consumer electronics, appliances and vehicles; and pre-funded funeral insurance. Assurant Specialty Property provides lender-placed homeowners insurance; property preservation and valuation services; flood insurance; renters insurance and related products; and manufactured housing homeowners insurance. Assurant Health provides individual health and small employer group health insurance. Assurant Employee Benefits primarily provides group dental insurance, group disability insurance and group life insurance. Corporate & Other includes activities of the holding company, financing and interest expenses, net realized gains (losses) on investments and interest income earned from short-term investments held. Corporate & Other also includes the amortization of deferred gains associated with the sales of Fortis Financial Group and Long-Term Care through reinsurance agreements. Beginning January 1, 2015, segment assets for Assurant Solutions and Assurant Specialty Property include their proportionate share of goodwill.

As previously announced, the Company concluded a comprehensive review of its portfolio and decided to sharpen its focus on specialty housing and lifestyle protection products and services. As a result, the Company will exit the health insurance market and has signed a definitive agreement to sell its Assurant Employee Benefits segment. See Note 3 and Note 4, respectively, for more information.

The Company evaluates performance of the operating segments based on segment income (loss) after-tax excluding realized gains (losses) on investments. The Company determines reportable segments in a manner consistent with the way the Chief Operating Decision Maker makes operating decisions and assesses performance. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. See Note 2 for further information.

The following tables summarize selected financial information by segment:



	Year Ended December 31, 2015
	Solutions		Specialty Property		Health			Employee Benefits		Corporate & Other			Consolidated
Revenues
Net earned premiums	$	3,015,846	$	2,044,701	$	2,223,696		$	1,066,754	$	—		$	8,350,997
Net investment income	376,683		92,859		24,487			110,998		21,190			626,217
Net realized gains on investments	—		—		—			—		31,826			31,826
Amortization of deferred gain on disposal of businesses	—		—		—			—		12,988			12,988
Fees and other income	785,611		405,545		54,622			25,006		32,682			1,303,466
Total revenues	4,178,140		2,543,105		2,302,805			1,202,758		98,686			10,325,494
Benefits, losses and expenses
Policyholder benefits	919,403		788,549		2,301,241			730,192		3,150			4,742,535
Amortization of deferred acquisition costs and value of business acquired	1,078,551		280,492		10,694			32,836		—			1,402,573
Underwriting, general and administrative expenses	1,903,712		1,010,445		516,726			365,921		127,285			3,924,089
Interest expense	—		—		—			—		55,116			55,116
Total benefits, losses and expenses	3,901,666		2,079,486		2,828,661			1,128,949		185,551			10,124,313
Segment income (loss) before provision (benefit) for income taxes	276,474		463,619		(525,856		)	73,809		(86,865		)	201,181
Provision (benefit) for income taxes	79,291		155,914		(157,949		)	26,487		(44,117		)	59,626
Segment income (loss) after taxes	$	197,183	$	307,705	$	(367,907	)	$	47,322	$	(42,748	)
Net income													$	141,555

Segment assets (1):	$	14,356,484	$	3,648,738	$	1,437,032		$	2,190,808	$	8,410,066		$	30,043,128

(1) Beginning January 1, 2015, goodwill is included on the respective segment balance sheets. Prior to January 1, 2015, all goodwill on Assurant's balance sheet was held in the Corporate & Other segment.


(1)	As of December 31, 2014, all goodwill on Assurant's balance sheet was held in the Corporate & Other segment. Beginning January 1, 2015, goodwill is included on the respective segment balance sheets.



	Year Ended December 31, 2014
	Solutions		Specialty Property		Health			Employee Benefits		Corporate & Other			Consolidated
Revenues
Net earned premiums	$	3,128,868	$	2,506,097	$	1,945,452		$	1,051,725	$	—		$	8,632,142
Net investment income	382,640		101,908		35,369			117,192		19,320			656,429
Net realized gains on investments	—		—		—			—		60,783			60,783
Amortization of deferred gain on disposal of businesses	—		—		—			—		(1,506		)	(1,506		)
Fees and other income	667,852		301,048		40,016			24,204		685			1,033,805
Total revenues	4,179,360		2,909,053		2,020,837			1,193,121		79,282			10,381,653
Benefits, losses and expenses
Policyholder benefits	1,027,469		1,085,339		1,575,633			716,892		—			4,405,333
Amortization of deferred acquisition costs and value of business acquired	1,106,889		343,314		4,570			30,785		—			1,485,558
Underwriting, general and administrative expenses	1,723,169		961,972		491,248			368,763		143,078			3,688,230
Interest expense	—		—		—			—		58,395			58,395
Total benefits, losses and expenses	3,857,527		2,390,625		2,071,451			1,116,440		201,473			9,637,516
Segment income (loss) before provision (benefit) for income taxes	321,833		518,428		(50,614		)	76,681		(122,191		)	744,137
Provision (benefit) for income taxes	102,885		176,671		13,134			28,000		(47,460		)	273,230
Segment income (loss) after taxes	$	218,948	$	341,757	$	(63,748	)	$	48,681	$	(74,731	)
Net income													$	470,907
Segment assets:
Segment assets, excluding goodwill	$	14,260,609	$	4,010,393	$	1,210,615		$	2,242,145	$	8,997,465		$	30,721,227
Goodwill													841,239
Total assets													$	31,562,466



	Year Ended December 31, 2013
	Solutions		Specialty Property		Health		Employee Benefits		Corporate & Other			Consolidated
Revenues
Net earned premiums	$	2,783,758	$	2,380,044	$	1,581,407	$	1,014,587	$	—		$	7,759,796
Net investment income	376,245		98,935		36,664		117,853		20,599			650,296
Net realized gains on investments	—		—		—		—		34,525			34,525
Amortization of deferred gain on disposal of businesses	—		—		—		—		16,310			16,310
Fees and other income	400,370		133,135		29,132		23,434		659			586,730
Total revenues	3,560,373		2,612,114		1,647,203		1,155,874		72,093			9,047,657
Benefits, losses and expenses
Policyholder benefits	895,504		890,409		1,169,075		715,656		4,888			3,675,532
Amortization of deferred acquisition costs and value of business acquired	1,132,298		309,332		801		27,856		—			1,470,287
Underwriting, general and administrative expenses	1,341,961		758,941		434,749		360,303		138,450			3,034,404
Interest expense	—		—		—		—		77,735			77,735
Total benefits, losses and expenses	3,369,763		1,958,682		1,604,625		1,103,815		221,073			8,257,958
Segment income (loss) before provision (benefit) for income taxes	190,610		653,432		42,578		52,059		(148,980		)	789,699
Provision (benefit) for income taxes	65,458		229,846		36,721		17,506		(48,739		)	300,792
Segment income (loss) after taxes	$	125,152	$	423,586	$	5,857	$	34,553	$	(100,241	)
Net income												$	488,907
Segment assets:
Segment assets, excluding goodwill	$	13,321,648	$	3,858,314	$	884,077	$	2,298,698	$	8,567,391		$	28,930,128
Goodwill												784,561
Total assets												$	29,714,689

The Company operates primarily in the U.S. and Canada, but also in select international markets.

The following table summarizes selected financial information by geographic location for the years ended or as of December 31:



Location	Revenues		Long-lived assets
2015
United States	$	8,917,732	$	293,915
Foreign countries	1,407,762		4,499
Total	$	10,325,494	$	298,414
2014
United States	$	8,874,820	$	272,555
Foreign countries	1,506,833		5,090
Total	$	10,381,653	$	277,645
2013
United States	$	7,792,728	$	248,331
Foreign countries	1,254,929		5,299
Total	$	9,047,657	$	253,630

Revenue is based in the country where the product was sold and long-lived assets, which are primarily property and equipment, are based on the physical location of those assets. There are no reportable major customers that account for 10% or more of the Company’s consolidated revenues.

The Company’s net earned premiums by segment and product are as follows:



	2015		2014		2013
Solutions:
Credit	$	386,341	$	478,898	$	547,100
Service contracts	2,446,829		2,481,793		2,057,353
Preneed	60,403		61,093		66,523
Other	122,273		107,084		112,782
Total	$	3,015,846	$	3,128,868	$	2,783,758
Specialty Property:
Homeowners (lender-placed and voluntary)	$	1,425,799	$	1,743,965	$	1,678,172
Manufactured housing (lender-placed and voluntary)	165,657		237,576		226,058
Other	453,245		524,556		475,814
Total	$	2,044,701	$	2,506,097	$	2,380,044
Health:
Individual	$	1,895,970	$	1,544,968	$	1,174,141
Small employer group	327,726		400,484		407,266
Total	$	2,223,696	$	1,945,452	$	1,581,407
Employee Benefits:
Group disability	$	398,172	$	409,028	$	403,286
Group dental	396,925		392,502		383,223
Group life	204,526		200,285		192,392
Group supplemental and vision products	67,131		49,910		35,686
Total	$	1,066,754	$	1,051,725	$	1,014,587