Assurant Employee Benefits, which is headquartered in Kansas City, reported a 27 percent decline in first-quarter net operating income.
The company posted net operating income of $10.1 million during the quarter, compared with $13.9 million in the same quarter last year.
Assurant also said net earned premiums, fees and other revenue increased to $273.2 million in the first quarter, up 2 percent from the same quarter in 2014.
Last week, Assurant’s New York-based parent company said it was exploring the sale of its employee benefits and health insurance businesses as part of a strategy to generate higher returns. The employee benefits operation is based in Kansas City at 2323 Grand Blvd. The unit has about 1,600 employees, including more than 800 at its headquarters.
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| The Star