ASSURANT, INC.

Listed Company

AIZNCIK 0001267238NYSELarge AcceleratedInsurance Carriers, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$12.81B

Net Income

$872.70M

Total Assets

$36.29B

Equity

$5.87B

Shares Out

49.70M

Op. Cash Flow

$1.83B

Business

ASSURANT, INC. is a global protection company that partners with brands to safeguard and service connected devices, homes and automobiles. It offers mobile device protection, extended service contracts, device lifecycle services, vehicle protection and related insurance products, as well as lender-placed, voluntary homeowners, flood and renters insurance. The company operates through two segments: Global Lifestyle (Connected Living and Global Automotive) and Global Housing (Homeowners and Renters and Other). It distributes products through carriers, retailers, OEMs, mortgage lenders, servicers and property managers across North America, Latin America, Europe and Asia Pacific.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net earned premiums	10,483	9,796	9,388	8,765	8,572
Fees and other income	1,876	1,639	1,323	1,243	1,173
Net investment income	527	519	489	364	314
Net realized losses on investments (including $6.7, $25.1 and $17.0 of impairment-related losses for the years ended December 31, 2025, 2024 and 2023, respectively) and fair value changes to equity securities	−72	−76	−69	−180	128
Total revenues	12,814	11,878	11,132	10,193	10,188
Policyholder benefits	2,928	2,767	2,522	2,360	2,202
Underwriting, selling, general and administrative expenses	8,688	8,077	7,695	7,366	7,082
Interest expense	110	107	108	108	—
Loss (gain) on extinguishment of debt (Note 18)	1	0	−100,000	900,000	21
Total benefits, losses and expenses	11,727	10,950	10,325	9,843	9,416
Income before income tax expense	1,087	927	807	350	771
Income tax expense	215	167	164	73	168
Net income	873	760	643	277	1,362
Basic (in dollars per share)	17.14	14.55	12.02	5.09	22.95
Diluted (in dollars per share)	16.93	14.46	11.95	5.05	22.66
Weighted average common shares outstanding used in basic per common share calculations (in shares)	50	52	53	54	59
Plus: Dilutive securities (in shares)	617,016	349,373	327,930	410,997	982,833
Weighted average common shares used in diluted per common share calculations (in shares)	51	52	53	55	60

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Fixed maturity securities available for sale, at fair value (net of allowances for credit losses of $1.9 and zero at December 31, 2025 and 2024, respectively; amortized cost $8,635.3 and $7,524.8 at December 31, 2025 and 2024, respectively)	8,578	7,175	6,912	6,284	7,215
Equity securities at fair value	207	209	223	281	446
Commercial mortgage loans on real estate, at amortized cost (net of allowances for credit losses of $6.7 and $6.5 at December 31, 2025 and 2024, respectively)	325	343	329	296	257
Short-term investments	380	282	258	156	248
Other investments	573	537	499	508	506
Total investments	10,062	8,545	8,221	7,525	8,672
Cash and cash equivalents	1,834	1,808	1,627	1,537	2,041
Premiums and accounts receivable (net of allowances for credit losses of $10.4 and $7.2 at December 31, 2025 and 2024, respectively)	1,989	2,054	2,266	2,406	1,943
Reinsurance recoverables (net of allowances for credit losses of $5.2 and $5.0 at December 31, 2025 and 2024, respectively)	6,470	7,580	6,650	7,000	6,180
Accrued investment income	135	131	97	85	62
Deferred acquisition costs	10,188	9,993	9,967	9,677	8,811
Property and equipment, net	842	768	686	645	561
Goodwill	2,646	2,616	2,609	2,603	2,572
Other intangible assets, net	522	536	567	639	719
Other assets (net of allowances for credit losses of $0.9 and $0.6 at December 31, 2025 and 2024, respectively)	1,087	992	862	738	699
Assets held for sale (Note 3)	512	0	—	0	1,077
Total assets	36,290	35,021	33,635	33,117	33,921
Future policy benefits and expenses	56	537	487	508	413
Unearned premiums	20,881	20,211	20,110	19,802	18,624
Claims and benefits payable	2,101	2,914	1,989	2,210	1,523
Commissions payable	641	560	543	648	693
Funds held under reinsurance	266	278	393	367	364
Accounts payable and other liabilities (including allowances for credit losses of $0.9 and $1.4 at December 31, 2025 and 2024)	3,766	3,331	2,793	2,732	3,044
Debt	2,207	2,083	2,081	2,130	2,203
Liabilities held for sale (Note 3)	500	0	—	0	1,065
Total liabilities	30,418	29,914	28,826	28,889	28,457
Commitments and contingencies (Note 26)	—	—	—	—	—
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 52,089,008 and 53,129,838 shares issued and 49,792,919 and 50,833,749 shares outstanding at December 31, 2025 and 2024, respectively	500,000	500,000	600,000	600,000	700,000
Additional paid-in capital	1,712	1,687	1,669	1,638	1,695
Retained earnings	4,826	4,378	4,028	3,699	4,041
Accumulated other comprehensive loss	−544	−836	−765	−986	−150
Treasury stock, at cost; 2,296,089 shares at December 31, 2025 and 2024	−123	−123	−123	−123	—
Total equity	5,872	5,107	4,810	4,229	5,464
Total liabilities and equity	36,290	35,021	33,635	33,117	33,921

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred tax expense (benefit)	101	245	−109	64	132
Depreciation and amortization	250	224	196	182	172
Net realized losses on investments, including impairment losses	72	76	69	180	−128
Restructuring costs	27	5	34	42	0
Loss on sale of business	11	9	0	0	0
Stock based compensation expense	86	81	75	63	67
Insurance policy reserves and expenses	−266	1,192	9	1,877	1,454
Premiums and accounts receivable	96	173	121	−466	−424
Commissions payable	73	37	−93	−31	—
Reinsurance recoverable	628	−892	346	−810	−447
Funds withheld under reinsurance	−13	−113	25	5	7
Deferred acquisition costs and value of business acquired (Note 12 and 15)	−137	−27	−82	−552	−874
Taxes receivable	−4	−117	−93	88	−146
Other assets and other liabilities	12	−255	27	−350	150
Other	25	−66	−31	−23	−3
Net cash provided by operating activities	1,834	1,333	1,138	597	782
Fixed maturity securities available for sale	1,188	1,331	1,465	2,469	1,362
Equity securities	44	88	53	52	30
Other invested assets	61	92	91	145	141
Subsidiary, net of cash transferred	0	−5	0	5	1,316
Fixed maturity securities available for sale	807	564	280	484	971
Commercial mortgage loans on real estate	72	41	20	41	20
Fixed maturity securities available for sale	−3,082	−2,287	−2,147	−3,060	−3,008
Equity securities	−32	−61	−3	−27	−58
Commercial mortgage loans on real estate	−56	−57	−56	−80	−134
Other invested assets	−110	−102	−49	−112	−72
Property and equipment and other	−236	−221	−203	−186	−187
Subsidiary, net of cash transferred	−24	−13	−300,000	−73	−17
Change in short-term investments	−96	−27	−91	81	−65
Other	6	100,000	2	600,000	3
Net cash used in investing activities	−1,458	−658	−638	−262	158
Issuance of debt, net of issuance costs (Note 18)	298	0	173	0	347
Repayment of debt	−176	0	−225	−76	—
Payment of contingent liability	0	0	−3	0	0
Acquisition of common stock	−304	−307	−193	−573	−839
Common stock dividends paid	−168	−156	−152	−150	−158
Employee stock purchases and withholdings	−14	−14	−4	−20	−16
Net cash used in financing activities	−364	−478	−404	−818	−1,090
Effect of exchange rate changes on cash and cash equivalents	15	−17	−6	−35	−23
Change in cash and cash equivalents	26	180	91	−518	−174

Filings

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