Assurant, a specialty insurance provider, has reported a net income of $165.9m, or $1.68 per share for the second quarter of 2011, compared to $164.7m, or $1.46 per share, for the same quarter of 2010.
The insurer said the net income benefited from an $80m reduction in a valuation allowance associated with deferred tax assets.
The total revenues reported for the second quarter of 2011 was $2.06bn, compared to $2.14bn for the same quarter of the previous year.
In the second quarter of 2011, net operating income decreased 50% to $75.4m, or $0.76 per diluted share, net operating income of $152.2m, or $1.35 per diluted share, in the second quarter of 2010.
Assurant president and CEO Robert Pollock said second quarter operating results reflect the continuing efforts to deliver on the customer commitments and achieve long-term value for shareholders.
"At the same time, results reflect the impact of storm-related claims as we quickly responded to help our customers recover and rebuild," Pollock said.