NEW YORK (AP) -- Assurant Inc.'s profit leaped 24 percent in the third quarter as more mortgage lenders bought homeowners insurance policies protecting their clients' houses, the insurer said Thursday.

Assurant earned $187.2 million, or $1.56 per share, compared with $151.3 million, or $1.18 per share, in the third quarter of 2006.

Operating income, which excludes investments and various costs, was $1.63 per share. Analysts polled by Thomson Financial forecast operating income of $1.27 per share. Insurers typically emphasize operating income because they say it paints a more precise picture of an underwriter's health.

Assurant's premiums grew 10 percent to $1.89 billion from $1.72 billion, propelled by growth in the specialty property insurance business. The specialty insurance segment sells policies protecting houses from hazards like fire, among other types of specialty policies.

The unit's profit more than doubled as more mortgage lenders bought homeowners insurance for the homes acting as collateral on their loans.

Premiums in the solutions line, which insures contracts and debt, also grew. Assurant split its specialty and solutions business into two units last year.

Like most insurers, Assurant parks the premiums it collects in investments like stocks or bonds. Income from investing climbed 7 percent to $194 million during the third quarter as the company poured more money into investments earning a higher yield.

Shares of Assurant advanced $3.09, or 5.3 percent, to $61.53 in morning trading. The stock has ranged from $45.27 to $62.13 over the past year.

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