Assurant (AIZ) investor relations material

Executive summary

• Achieved record first quarter results, with GAAP net income up 87% year-over-year to $274.1 million, driven by strong Global Lifestyle performance and lower catastrophe losses.

• Adjusted EBITDA rose 56% to $441.5 million, and Adjusted EPS excluding catastrophes increased 9% to $6.33.

• Global Lifestyle Adjusted EBITDA increased 20% to $236.7 million, with double-digit growth in Connected Living and Global Automotive.

• Returned $169 million to shareholders in Q1 2026 through $125 million in share repurchases and $44 million in dividends.

• Well-positioned for a 10th consecutive year of profitable growth, supported by robust liquidity and capital returns.

Financial highlights

• Total revenues grew 11% year-over-year to $3.42 billion, with net earned premiums, fees, and other income up 11% to $3.28 billion.

• Adjusted EBITDA excluding catastrophes was $465.9 million, up 6% year-over-year.

• Net investment income climbed 28% to $159.6 million, aided by a real estate joint venture gain.

• GAAP net income per diluted share increased 91% to $5.41 compared to $2.83 in Q1 2025.

• Holding company liquidity stood at $836 million at quarter end.

Outlook and guidance

• 2026 outlook raised: Adjusted EBITDA and Adjusted EPS (excluding catastrophes) expected to grow low single digits, or high single digits on an underlying basis, led by Global Lifestyle (~10% growth expected).

• Global Housing Adjusted EBITDA (ex-catastrophes) expected to decline modestly, with solid underlying growth anticipated.

• Share repurchases for 2026 expected at $300–$350 million, at the high end of guidance.

• Depreciation expense forecast at ~$180 million, effective tax rate at 19–21%.

• Management expects sufficient liquidity for the next twelve months and continued focus on operational efficiencies and growth in key segments.