Assurant Inc. (NYSE:AIZ) Q2 2020 Earnings Conference Call - Final Transcript
Aug 05, 2020 • 08:00 am ET
and interest expenses, we also bought back $26 million of stock. As we have indicated, we slowed and then ultimately paused share repurchases in the second quarter. We paid $44 million in common and preferred stock in dividends. We acquired AFAS for $158 million and we sold Ike, which resulted in a cash outflow of $51 million from the holding company.
In late July, we also received the one-time tax cash benefit related to the acceleration of our net operating losses, included in the CARES Act passed in March. As a result, liquidity at the holding company will increase by $84 million in the third quarter.
For the full-year, we expect segment dividends to approximate segment earnings. This is subject to the growth of the businesses, rating agency and regulatory capital requirements and the performance of the investment portfolio.
As Alan mentioned, we expect to resume buybacks in the third quarter and we'll continue to manage our capital prudently. Our approach to buybacks will be measured as we continue to monitor business performance, as well as the broader macroeconomic and credit market environments.
In summary, we demonstrated strong first half performance while navigating the challenges of COVID-19. As we focus on continuing to deliver on our financial commitments for 2020, we will continue to invest in our growth businesses for the future while monitoring global market trends.
And with that, operator, please open the call for questions.