Aug 6 (Reuters) - Insurer Assurant reported a

21% jump in second-quarter profit on Tuesday, driven by growth

in its global housing segment and higher investment returns.

The company's global housing unit, which offers

lender-placed homeowners, manufactured housing and flood

insurance, posted net earned premiums, fees and other income of

$633.6 million, an 18% jump over the year earlier.

The unit benefited from strong performance in its homeowners

business, thanks to growth in policies in-force and higher

average premiums, the company said.

Assurant's ( AIZ ) net investment income jumped to $124.7 million in

the quarter ended June 30, from $112.9 million a year earlier.

Risk-averse insurers allocate a major chunk of their

investment portfolio in bonds, which return better yields in a

high interest rate environment.

Net income rose to $188.7 million, or $3.58 per share, in

the quarter, from $156.3 million, or $2.90 per share, a year

earlier.

Shares of the company have risen 1% so far this year,

underperforming an 8.7% gain in the benchmark S&P 500

index.