Core Viewpoint - Assurant's Q3 2025 earnings report shows strong performance with significant year-over-year growth in net operating income and revenues, driven by its Global Housing and Global Lifestyle segments [3][4][12]. Financial Performance - Assurant reported a net operating income of $5.73 per share, exceeding the Zacks Consensus Estimate by 35.4% and reflecting a 91% increase year-over-year [3]. - Total revenues rose 8.6% year-over-year to nearly $3.2 billion, surpassing the Zacks Consensus Estimate by 2.6% [4]. - Net earned premiums, fees, and other income increased 8.9% year-over-year to $3.1 billion, exceeding the estimate of $3 billion [4]. - Net investment income grew 2.9% year-over-year to $133.5 million, also above the estimate of $125.1 million [4]. Segmental Performance - Global Housing revenues increased 16.2% year-over-year to $738.9 million, driven by higher net earned premiums and net investment income, exceeding estimates [6]. - Global Lifestyle revenues rose 6.8% year-over-year to $2.5 billion, with adjusted EBITDA increasing 12% year-over-year to $206.8 million [8]. - The Corporate & Other segment reported an adjusted EBITDA loss of $31.6 million, wider than the previous year's loss [9]. Financial Position - As of September 30, 2025, liquidity stood at $613 million, significantly above the targeted minimum level of $225 million [10]. - Total assets increased 2.2% to $35.7 billion, while total shareholders' equity rose 12.7% to $5.7 billion [10]. - The debt-to-total capital ratio improved by 130 basis points to 27.7% [10]. Share Repurchase and Dividend Update - In Q3 2025, Assurant repurchased shares worth $81 million and paid $41 million in dividends, with an additional $27 million in repurchases from October 1 to October 31, 2025 [11]. Guidance and Outlook - Assurant raised its 2025 guidance, expecting adjusted EBITDA growth of nearly 10% and low double-digit growth in adjusted earnings per diluted share [12][13]. - The company anticipates a $120 million adjusted EBITDA loss in the Corporate and Other segment [12]. Market Position - Assurant has a Zacks Rank 2 (Buy) and is expected to deliver above-average returns in the coming months, with upward trends in estimates [16].

Core Insights - Assurant, Inc. is a global provider of risk management solutions with a market cap of $11.4 billion, operating across the Americas, Indo-Pacific, and Europe [1] Performance Overview - Assurant has underperformed the broader market, with AIZ stock gaining 6.4% year-to-date and 71 basis points over the past 52 weeks, compared to the S&P 500 Index's gains of 12.3% in 2025 and 11% over the past year [2] - The company also lagged behind the Financial Select Sector SPDR Fund's 6.9% gains in 2025 and 3% increase over the past 52 weeks [3] Financial Results - Following the release of solid Q3 results, Assurant's stock prices increased by 1.7%. The company reported a year-over-year revenue growth of 8.9% to $3.2 billion, exceeding expectations by 2.7% [4] - Adjusted EPS for the quarter soared 91% year-over-year to $5.73, beating consensus estimates by 35.5% [4] Future Projections - For the full fiscal year 2025, analysts expect Assurant to deliver an adjusted EPS of $19.39, reflecting a 16.5% year-over-year increase. The company has a strong earnings surprise history, surpassing estimates in each of the past four quarters [5] - The consensus rating among nine analysts covering AIZ is a "Moderate Buy," with five "Strong Buys," one "Moderate Buy," and three "Holds" [5] Analyst Ratings and Price Targets - The current analyst configuration is slightly less optimistic than two months ago, with six analysts previously giving "Strong Buy" recommendations. An analyst maintained an "Outperform" rating and raised the price target from $248 to $254 [6] - The mean price target of $253.67 suggests an 11.8% premium to current price levels, while the highest target of $265 indicates a potential upside of 16.8% [6]

Core Viewpoint - Assurant Inc. shares are currently trading at $225.25, reflecting a 0.28% increase, with a 6.46% rise over the past month, but a 0.40% decline over the past year, raising questions about potential undervaluation despite current performance [1]. Group 1: P/E Ratio Analysis - The P/E ratio is a critical metric for investors, comparing the current share price to the company's earnings per share (EPS), indicating market expectations for future performance [5]. - Assurant Inc. has a P/E ratio of 13.69, which is lower than the insurance industry's average P/E ratio of 13.99, suggesting that the stock may be undervalued or could perform worse than its peers [6]. - A low P/E ratio can indicate undervaluation but may also reflect weak growth prospects or financial instability, emphasizing the need for a comprehensive analysis of financial health [9].

Core Insights - Assurant, Inc. (AIZ) has announced a significant increase in its common stock dividend, reflecting its strong financial position and commitment to shareholder returns [1][2] - The quarterly dividend has been raised to 88 cents per share from 80 cents, marking a 10% increase and the 21st consecutive year of dividend growth [2][10] - The new dividend yield based on the stock's closing price of $227.05 is 1.41%, making it appealing for yield-seeking investors [3][10] Financial Strength and Capital Management - Assurant's strategy includes returning excess cash to shareholders through both dividend increases and share repurchases, demonstrating solid capital position and cash generation capabilities [5][10] - As of September 30, 2025, liquidity stood at $613 million, significantly above the targeted minimum of $225 million, with $206.3 million spent on share repurchases in the first nine months of 2025 [6][10] - The company plans to return up to $300 million to shareholders through share repurchases in 2025, indicating strong cash flow generation [7][10] Performance Metrics - Assurant's return on equity was 18.6% over the trailing 12 months, outperforming the industry average of 15.3% [8] - Year-to-date, Assurant shares have gained 6.5%, surpassing the industry growth of 6% [9]

Core Insights - Assurant, Inc. (AIZ) shares closed at $225.52, close to its 52-week high of $230.55, indicating strong investor confidence and potential for further price appreciation [1] - The stock is trading above its 50-day and 200-day simple moving averages, suggesting solid upward momentum [1] Financial Performance - Assurant's earnings grew by 16.6% over the last five years, outperforming the industry average of 9.8% [2] - The company has consistently beaten earnings estimates, with an average surprise of 22.74% over the last four quarters [2] Valuation Metrics - Assurant shares are trading at a forward price-to-earnings multiple of 1.98X, lower than the industry average of 2.14X and the Finance sector's 4.27X [3] - The company has a Value Score of A, indicating attractive valuation compared to peers [3] Growth Projections - The Zacks Consensus Estimate for Assurant's 2025 earnings per share indicates a year-over-year increase of 14.7%, with revenues projected at $12.75 billion, reflecting a 6.6% improvement [9] - For 2026, earnings per share and revenues are expected to increase by 9.3% and 5.1%, respectively, compared to 2025 estimates [9] Analyst Sentiment - Three out of four analysts have raised their estimates for 2025, and four out of five have increased estimates for 2026 in the past 30 days [10] - The Zacks Consensus Estimate for 2025 and 2026 earnings has increased by 7.8% and 2.4%, respectively, over the past month [10] Return on Capital - Assurant's return on equity in the trailing 12 months was 18.6%, exceeding the industry average of 15.3% [13] - The return on invested capital (ROIC) was 12.2%, significantly higher than the industry average of 2.1%, indicating efficient capital utilization [14] Business Segments and Growth Drivers - Fee-based, capital-light units account for 52% of segment revenues and are expected to grow in double digits [7] - Connected Living and Global Lifestyle units are projected to drive EBITDA growth for 2025 [7] - Growth in Global Housing is anticipated from improved claims experience and higher average premiums [17] Capital Management and Shareholder Returns - Assurant plans to return $300 million to shareholders in 2025 through share repurchases and dividend increases [7][20] - The company has a solid capital management policy, with an 11% dividend hike approved in November 2024, marking the 20th consecutive year of increases [20] Overall Outlook - Assurant's focus on capital-light businesses and growth in Connected Living is expected to favor its results [23] - The company has a favorable VGM Score of A, indicating strong value, growth, and momentum compared to peers [24]

Core Points - Assurant, in collaboration with Wounded Warriors Family Support, presented a mobility-modified 2025 Chevrolet Suburban to combat-wounded veteran Josh Lopez as part of the Mobility is Freedom program [2][3][4] - The initiative aims to provide modified vehicles to veterans who require them due to combat-related injuries, with approximately 350 veterans in the U.S. needing such modifications [3][4] - Assurant was recognized by Forbes as one of America's Best Employers for Veterans in 2025, highlighting its commitment to supporting veterans [3][7] Company Involvement - Assurant's President and CEO, Keith Demmings, emphasized the company's dedication to supporting veterans and the community [3] - The vehicle presented to Lopez was modified by the Driver Rehabilitation Center of Excellence and includes full left-foot driving controls, along with an Assurant Vehicle Care service contract for additional repairs [6] - This event marks the fifth mobility-modified vehicle provided by Assurant through its partnership with Wounded Warriors Family Support [3][4] Background on Josh Lopez - Josh Lopez, a Marine sergeant, suffered catastrophic injuries from an IED explosion during his deployment, resulting in the loss of his right leg below the knee [4] - His story is one of resilience, as he was promoted to sergeant during his recovery, reflecting his strength and dedication [4][5] Organizational Information - Assurant, Inc. is a global protection company that partners with leading brands to safeguard connected devices, homes, and automobiles [8] - The company operates in 21 countries and leverages data-driven technology solutions to enhance customer experiences [8] - Wounded Warriors Family Support is a nonprofit organization dedicated to supporting families of combat-wounded veterans, rated a four-star nonprofit by Charity Navigator [9]

Revenue and Income - Total revenues for the three months ended September 30, 2025, increased to $3,231.5 million, up from $2,967.7 million in the same period of 2024, representing a growth of 8.9%[10] - Net earned premiums for the nine months ended September 30, 2025, reached $7,777.2 million, compared to $7,238.3 million in 2024, reflecting an increase of 7.4%[10] - Net income for the three months ended September 30, 2025, was $265.6 million, significantly higher than $133.8 million in the same period of 2024, marking a year-over-year increase of 98.5%[12] - Basic earnings per share for the three months ended September 30, 2025, were $5.22, compared to $2.56 in the same period of 2024, showing a substantial increase of 104.7%[10] - The company’s total comprehensive income for the nine months ended September 30, 2025, was $936.6 million, compared to $696.7 million in 2024, reflecting an increase of 34.4%[12] - Net income for the nine months ended September 30, 2025, was $647.5 million, compared to $558.9 million for the same period in 2024, reflecting an increase of 15.8%[95] Assets and Liabilities - The company's total assets as of September 30, 2025, amounted to $35,782.1 million, an increase from $35,020.6 million at the end of 2024, indicating a growth of 2.2%[8] - Total liabilities increased to $30,023.6 million as of September 30, 2025, compared to $29,913.9 million at December 31, 2024, reflecting a rise of 0.4%[8] - The company reported a total equity of $5,758.5 million as of September 30, 2025, up from $5,106.7 million at the end of 2024, representing an increase of 12.8%[8] - Cash and cash equivalents at the end of the period were $1,712.5 million, a decrease from $1,813.4 million at the end of September 2024[16] - The Company had receivables of $189.0 million and unearned revenue of $140.8 million as of September 30, 2025, compared to $171.3 million and $153.8 million, respectively, as of December 31, 2024[46] Investment and Securities - The company reported a total of $892.2 million in sales of fixed maturity securities available for sale during the nine months ended September 30, 2025[15] - The total fixed maturity securities fair value as of September 30, 2025, was $8.29 billion, down from $7.18 billion as of December 31, 2024, reflecting a decrease of 14.8%[49] - The total fair value of fixed maturity securities was $2,074.4 billion as of September 30, 2025, with unrealized losses of $242.4 million[54] - The company does not intend to sell investments prior to an anticipated recovery in value, indicating a long-term investment strategy[54] - The carrying value of equity investments as of September 30, 2025, was $114.4 million, up from $108.3 million as of December 31, 2024[53] Expenses and Benefits - Policyholder benefits for the three months ended September 30, 2025, were $709.6 million, down from $776.8 million in the same period of 2024, a decrease of 8.6%[10] - Total benefits, losses, and expenses for the nine months ended September 30, 2025, amounted to $8,660.0 million, an increase from $8,095.4 million in the same period of 2024[10] - The expected future benefit payments for long-term care insurance contracts were $772.1 million as of September 30, 2025, down from $804.4 million at the end of 2024[87] - The company reported a net future policy benefits and expenses of $446.9 million as of September 30, 2025, compared to $470.0 million at the end of 2024[86] Segment Performance - The Global Lifestyle segment generated Adjusted EBITDA of $206.8 million for the three months ended September 30, 2025, up from $184.3 million in the same period of 2024, reflecting a growth of 12.1%[38] - The Global Housing segment's Adjusted EBITDA increased significantly to $256.3 million for the three months ended September 30, 2025, compared to $92.4 million in the same period of 2024, marking a growth of 177.0%[38] - Revenues from service contracts for Global Lifestyle reached $419.6 million in Q3 2025, up from $382.6 million in Q3 2024, representing a growth of 9.8%[42] - For the nine months ended September 30, 2025, Global Lifestyle service contract revenues totaled $1.17 billion, compared to $1.04 billion in the same period of 2024, an increase of 12.6%[42] Legal and Regulatory Matters - The Company has established an accrued liability for certain legal and regulatory proceedings, but does not believe these will have a material adverse effect on its financial condition[101] - Management does not believe that pending legal matters are likely to have a material adverse effect on the Company's financial condition[101] Pension and Benefits - The Assurant Pension Plan's funded status was $92.7 million at September 30, 2025, equating to a 119% funded status, compared to $84.1 million and 117% at December 31, 2024[98] - The net periodic benefit cost for Qualified Pension Benefits for the three months ended September 30, 2025, was $(3.4) million, unchanged from the same period in 2024[98] - No cash contributions were made to the Assurant Pension Plan during the nine months ended September 30, 2025, and no additional cash contributions are expected for the remainder of 2025[98]

Core Insights - Assurant, Inc. (AIZ) reported a significant increase in net operating income for Q3 2025, reaching $5.73 per share, which exceeded the Zacks Consensus Estimate by 35.4% and marked a 91% year-over-year increase [1][10] - The company's strong performance was driven by the Global Housing and Global Lifestyle segments, which saw higher revenues and improved net investment income, although this was partially offset by increased expenses and weakness in the Corporate & Other segment [1][10] Revenue Performance - Total revenues rose by 8.6% year over year to nearly $3.2 billion, surpassing the Zacks Consensus Estimate by 2.6% [2] - Net earned premiums, fees, and other income increased by 8.9% year over year to $3.1 billion, exceeding the estimate of $3 billion [2] - Net investment income grew by 2.9% year over year to $133.5 million, also beating the estimate of $125.1 million [2] Expense Analysis - Total benefits, losses, and expenses increased by 3% to $2.9 billion, primarily due to higher underwriting, selling, general and administrative expenses, and interest expense [3] - Adjusted EBITDA, excluding reportable catastrophes, increased by 13% to $433.5 million, slightly below the estimate of $439.4 million [3] Segment Performance - Global Housing revenues increased by 16.2% year over year to $738.9 million, exceeding the estimate of $703.1 million [4] - Net earned premiums, fees, and other income in Global Housing rose by 16% year over year to $702.9 million, driven by growth in policies in-force and higher average premiums [5] - Adjusted EBITDA for Global Housing, excluding catastrophes, increased by 13% year over year to $259.2 million, although it was lower than the estimate of $273.1 million [6] - Global Lifestyle revenues increased by 6.8% year over year to $2.5 billion, matching the Zacks Consensus Estimate [7] - Adjusted EBITDA for Global Lifestyle rose by 12% year over year to $206.8 million, exceeding the estimate of $195.4 million [8] - The Corporate & Other segment reported an adjusted EBITDA loss of $31.6 million, wider than the previous year's loss of $29.8 million [9] Financial Position - As of September 30, 2025, liquidity stood at $613 million, significantly above the targeted minimum level of $225 million [11] - Total assets increased by 2.2% to $35.7 billion, while total shareholders' equity rose by 12.7% to $5.7 billion [11] - The debt-to-total capital ratio improved by 130 basis points to 27.7% [11] Shareholder Returns - In Q3 2025, Assurant repurchased shares worth $81 million and paid $41 million in dividends [12] - From October 1 to October 31, 2025, an additional $27 million was spent on share repurchases, with $141 million remaining under the current repurchase authorization [12] Future Guidance - Assurant raised its 2025 guidance, expecting adjusted EBITDA growth, excluding reportable catastrophes, to approach 10% [13] - The company anticipates strong growth in Global Housing adjusted EBITDA and expects a loss of $120 million in Corporate and Other adjusted EBITDA [13] - Adjusted earnings per diluted share are projected to deliver low double-digit growth [14]

Core Insights - The article discusses the importance of enabling Javascript and cookies in browsers to ensure proper functionality and access to content [1] Group 1 - The article emphasizes that users may be blocked from proceeding if an ad-blocker is enabled [1]

Financial Data and Key Metrics Changes - In Q3 2025, the company achieved 13% adjusted EBITDA growth and 15% adjusted EPS growth, both excluding reportable catastrophes [4][5] - The full-year adjusted EPS growth is now expected to be in the low double digits, with adjusted EBITDA growth approaching 10%, a significant increase from initial expectations [5][24] Business Line Data and Key Metrics Changes - Global Lifestyle earnings increased 4% year-to-date, with double-digit growth in Q3 [6] - In Connected Living, earnings increased 11%, driven by strength in financial services and mobile subscriber growth of 2.1 million net additions year-over-year [19][20] - Global Auto adjusted EBITDA increased 15% year-over-year, with normalized growth of 6% when excluding non-run rate benefits [20] - Global Housing adjusted EBITDA was $256 million, with a 13% increase when excluding catastrophes, driven by favorable loss experience and policy growth [21][22] Market Data and Key Metrics Changes - The company reported strong performance in the lender-placed market, with policy counts up 8% year-over-year [71] - The average return on equity (ROE) from 2019 to 2024 outperformed the S&P 1500 P&C Index median with less than half the volatility [15] Company Strategy and Development Direction - The company is focused on expanding offerings and increasing attachment rates with existing partners while prioritizing investments in core markets [16] - Strategic investments in technology and operational efficiencies are expected to drive improved margins and customer experiences [14] - The company plans to launch a new program in an adjacent business early next year, which is anticipated to create long-term growth opportunities [83] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to continue creating value for stakeholders, driven by strong momentum across Global Lifestyle and Global Housing [17][27] - The company remains well-positioned for future growth, with expectations of continued growth across all business lines despite potential economic downturns [16][35] Other Important Information - The company returned $122 million to shareholders in Q3, including $81 million in share repurchases and $41 million in dividends [22] - The company completed the issuance of $300 million in senior notes and redeemed $175 million of senior notes due in 2026, reflecting strong demand for its investment-grade bonds [22][23] Q&A Session Summary Question: Can you expand on the strong pipeline in housing? - Management noted strong momentum across housing, with significant investments in technology and operational capabilities leading to growth opportunities [30][31] Question: Is the improved loss performance in Global Auto sustainable? - Management expressed satisfaction with the stable loss performance and improvements in vehicle service contracts, indicating a positive outlook [32][33] Question: How might a softening housing market affect top-line prospects? - Management acknowledged potential impacts but noted that the business is countercyclical, which could lead to increased placement rates during economic downturns [34][35] Question: Can you quantify the impact of new partnerships in Connected Living? - Management indicated that the reverse logistics and Geek Squad deals are expected to contribute positively starting in 2026, with ongoing investments [51][52] Question: What are the expectations for capital deployment in 2026? - Management highlighted a strong capital position and a balanced approach to investments, including M&A opportunities and share buybacks [55][56] Question: What is the expected contribution of the new program in an adjacent business? - Management signaled that the new program is expected to create long-term growth vectors and will be discussed in more detail in February [83][95]