Keith Meier Executive Vice President & Chief Financial Officer Cautionary Statement Some of the statements in this presentation, including our business and financial plans and any statements regarding our anticipated future financial performance, business prospects, growth, operating strategies, valuation and similar matters, such as performance outlook, financial objectives, business drivers, our ability to gain market share, and the strength, diversity, predictability and resiliency of enterprise and segm ...

Core Viewpoint - Assurant, Inc. reported strong fourth-quarter 2024 results, with net operating income and total revenues exceeding expectations, driven by growth in Global Housing and Connected Living segments [1][2]. Financial Performance - Fourth-quarter net operating income was $4.79 per share, beating the Zacks Consensus Estimate by 10.6%, and increased 5% year over year [1]. - Total revenues rose 4.4% year over year to $3.1 billion, surpassing the Zacks Consensus Estimate by 2.6% [2]. - Adjusted EBITDA, excluding reportable catastrophes, increased 13% to $431.5 million [2]. Expense Analysis - Total benefits, losses, and expenses increased 3.5% to $2.8 billion, primarily due to higher policyholder benefits and administrative expenses, exceeding the estimate of $2.6 billion [3]. Segmental Performance - Global Housing net earned premiums, fees, and other income increased 19% to $647.4 million, driven by Homeowners' growth, beating the Zacks Consensus Estimate of $607 million [4]. - Adjusted EBITDA for Global Housing was $225.4 million, up 21% year over year, with a 32% increase when excluding reportable catastrophes [5]. - Global Lifestyle net earned premiums, fees, and other income rose 2% to $2.3 billion, driven by Connected Living growth, exceeding the Zacks Consensus Estimate of $2.2 billion [6]. - Adjusted EBITDA for Global Lifestyle decreased 6% year over year to $191.7 million, primarily due to lower results in Global Automotive [7]. Full-Year Highlights - Adjusted earnings for 2024 increased 7% to $16.64 per share, beating the Zacks Consensus Estimate by 2.7% [9]. - Total net earned premiums, fees, and other income from Global Lifestyle and Global Housing segments totaled $11.42 billion, up 7% [9]. - Adjusted EBITDA for the full year, excluding reportable catastrophes, increased 15% to $1.5 billion [9]. Financial Position - As of December 31, 2024, liquidity was $673 million, significantly above the targeted minimum level of $225 million [11]. - Total assets increased 4.1% to $35 billion, while total shareholders' equity rose 6.2% year over year to $5.1 billion [11]. Share Repurchase and Dividend Update - In 2024, Assurant repurchased 1.5 million shares for $300 million and paid $156 million in dividends, with $351 million remaining under the current repurchase authorization [12]. 2025 Guidance - Assurant expects adjusted EBITDA, excluding reportable catastrophes, to increase modestly in 2025, with growth projected in both Global Lifestyle and Global Housing segments [13][14]. - Adjusted earnings per diluted share growth rate is expected to increase modestly, with an effective tax rate projected at approximately 20% to 22% [15].

Core Insights - Assurant (AIZ) reported $3.13 billion in revenue for Q4 2024, a year-over-year increase of 4.4%, with an EPS of $4.79 compared to $4.58 a year ago, exceeding both revenue and EPS consensus estimates [1] Financial Performance - Net investment income was $137.80 million, slightly above the average estimate of $134.09 million, but down 5.3% year-over-year [4] - Fees and other income totaled $438.60 million, below the average estimate of $447.09 million, reflecting a year-over-year increase of 1% [4] - Net earned premiums, fees, and other income reached $3 billion, surpassing the average estimate of $2.47 billion, marking a 4.9% year-over-year increase [4] Segment Performance - Global Housing revenues were $684.60 million, exceeding the estimated $636.93 million, with an 18.1% year-over-year increase [4] - Global Lifestyle revenues amounted to $2.44 billion, slightly above the estimated $2.39 billion, with a year-over-year increase of 1.2% [4] - Corporate & Other revenues were reported at $6.70 million, below the estimated $8.15 million, but showed a year-over-year increase of 15.5% [4] Investment Metrics - Global Housing net earned premiums were $603 million, exceeding the average estimate of $560.59 million, reflecting a year-over-year increase of 17.5% [4] - Global Housing fees and other income were $44.40 million, slightly below the average estimate of $46.54 million, with a significant year-over-year increase of 35.8% [4] - Global Lifestyle net investment income was $92.30 million, close to the average estimate of $92.66 million, but down 11.1% year-over-year [4]

Core Viewpoint - Assurant reported quarterly earnings of $4.79 per share, exceeding the Zacks Consensus Estimate of $4.33 per share, and showing an increase from $4.58 per share a year ago, indicating a 10.62% earnings surprise [1][2] Financial Performance - The company achieved revenues of $3.13 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2.60% and up from $3 billion year-over-year [2] - Over the last four quarters, Assurant has consistently surpassed consensus EPS estimates and revenue estimates [2] Stock Performance and Outlook - Assurant shares have declined approximately 0.3% since the beginning of the year, while the S&P 500 has gained 3.1% [3] - The company's earnings outlook is crucial for future stock performance, with current consensus EPS estimates at $4.69 for the next quarter and $17.95 for the current fiscal year [4][7] Industry Context - The Insurance - Multi line industry, to which Assurant belongs, is currently ranked in the top 35% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Catastrophes and Financial Impact - Assurant expects to record approximately $50 million pre-tax ($40 million after-tax) of reportable catastrophes for Q4 2024, primarily driven by Hurricane Milton[6] - The recent California wildfires are expected to be a reportable catastrophe for Q1 2025[7] Property Sale and Relocation - Assurant entered into a Purchase and Sale Agreement to sell its Miami, Florida campus for $126 million[5] - The transaction is subject to a 90-day due diligence period and development approvals, which could take 18 to 24 months[5] - Assurant plans to relocate its Miami operations to a new leased site by the end of Q2 2025[5]

Core Viewpoint - Assurant, Inc. (AIZ) is expected to report fourth-quarter 2024 earnings on February 11, with a history of earnings surprises averaging 20.32% over the last four quarters [1] Group 1: Performance Expectations - The Global Housing segment and growth in Global Lifestyle are anticipated to positively impact fourth-quarter performance [2] - Revenues are projected to reach $3.05 billion, reflecting a 1.7% increase from the same quarter last year [2] - Net earned premiums are expected to be $2.4 billion, with fees and other income estimated to rise by 2.7% to $446.2 million [3] Group 2: Investment Income and Segment Performance - Net investment income is forecasted at $142.8 million, benefiting from higher yields and asset balances [4] - The Global Housing segment's revenues are estimated at $607.8 million, indicating a 9.8% growth year-over-year [5] - Global Lifestyle revenues are expected to be $2.3 billion, driven by mobile growth and new trade-in programs [6] Group 3: Expense and Earnings Outlook - Total expenses are projected to be $2.6 billion, influenced by increased underwriting and administrative costs [7] - The consensus estimate for fourth-quarter earnings is $3.96 per share, representing a 13.5% decline from the previous year [7] Group 4: Earnings Prediction Model - The earnings prediction model indicates a likelihood of an earnings beat for Assurant, supported by a positive Earnings ESP of +9.37% and a Zacks Rank of 2 (Buy) [8][9]

The upcoming report from Assurant (AIZ) is expected to reveal quarterly earnings of $3.96 per share, indicating a decline of 13.5% compared to the year-ago period. Analysts forecast revenues of $3.05 billion, representing an increase of 1.8% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company announces its earnings, it is essen ...

The market expects Assurant (AIZ) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 11, 2025, might help the stock move higher if these key numbers are ...

Fourth-quarter results of insurance, one of the Finance sector industries, are likely to reflect better pricing and exposure growth, accelerated digitalization and a favorable interest rate. However, cat losses are likely to have weighed on profitability. Per the latest Earnings Preview, the Finance sector’s fourth-quarter 2024 earnings are expected to improve 24.3%. Revenues are estimated to rise 11.2%. See the Zacks Earnings Calendar to stay ahead of market-making news.With the help of the Zacks Stock Scr ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Assurant (AIZ) . This company, which is in the Zacks Insurance - Multi line industry, shows potential for another earnings beat.This insurer has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 16.98%.For the most recent qu ...