Financial Data and Key Metrics Changes - In Q3 2025, Assurant achieved 13% Adjusted EBITDA growth and 15% adjusted EPS growth, both excluding reportable catastrophes [4][5] - The company expects full-year adjusted EPS growth in low double digits and 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] - Adjusted EBITDA for Global Lifestyle rose 12% year-over-year, driven by Connected Living and Global Automotive [19] - Global Housing's Q3 Adjusted EBITDA was $256 million, with a 13% increase excluding catastrophes [21][22] Market Data and Key Metrics Changes - Connected Living saw 2.1 million net additions in mobile subscribers year-over-year, supported by partnerships with US clients [20] - Global Auto's Adjusted EBITDA increased 15%, with a normalized growth of 6% when excluding non-run rate benefits [20] Company Strategy and Development Direction - Assurant is focused on expanding its B2B2C business model and enhancing operational excellence to drive client outcomes and shareholder returns [4][5] - The company plans to launch new products and services across lifestyle and housing, with a focus on innovation and technology integration [16][27] - Strategic investments in technology and operational efficiencies are expected to drive improved margins and customer experiences [14][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to create value for stakeholders and achieve profitable growth for the ninth consecutive year [27][105] - The company is well-positioned for future growth, with a focus on increasing attachment rates with existing partners and winning new clients globally [16][27] Other Important Information - Assurant returned $122 million to shareholders in Q3, including $81 million in share repurchases and $41 million in dividends [22] - The company completed a successful issuance of $300 million in senior notes, demonstrating 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 in housing, driven by technology investments and a market-leading lender-placed solution, with further opportunities for growth [30][31] Question: Is the loss performance in Global Auto sustainable? - Management expressed satisfaction with the 15% year-over-year EBITDA growth in Global Auto, indicating stability in loss performance due to prior rate increases and product enhancements [32][33] Question: How do you view the impact of a potential housing market downturn? - Management acknowledged benefits from the current hard market but indicated that a downturn could lead to increased placement rates, suggesting a countercyclical nature [34][35] Question: What is the expected impact of new partnerships in Connected Living? - Management highlighted that new partnerships, including reverse logistics and Geek Squad deals, are expected to contribute positively to EBITDA starting in 2026 [51][52] Question: What are the expectations for capital deployment in 2026? - Management indicated a strong capital position and a balanced approach to investments, with expectations for higher capital deployment in 2026, including share buybacks and M&A opportunities [55][56][61]

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][25] - The liquidity position at the end of the quarter was $613 million, allowing for continued investment and shareholder returns [23] Business Line Data and Key Metrics Changes - Global Lifestyle adjusted EBITDA increased 12% year-over-year, driven by double-digit growth in Connected Living and Global Automotive [19] - In Connected Living, earnings increased 11%, supported by a new card benefits program and subscriber growth in mobile with 2.1 million net additions year-over-year [19][20] - Global Housing's adjusted EBITDA was $256 million, with a 13% increase excluding catastrophes, benefiting from favorable non-catastrophe loss experience and strong lender-placed results [22][12] Market Data and Key Metrics Changes - The company continues to see strong performance in the housing market, with an 8% year-over-year increase in policy counts, driven by favorable market conditions [66] - The voluntary market has hardened, contributing to policy growth and improved placement rates [66] - The company has maintained a strong market position in lender-placed insurance, holding over 60% market share [63] 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 [12][14] - The company plans to launch a new program in an adjacent business in early 2026, which is anticipated to create long-term growth opportunities [79] 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][28] - The company is well-positioned for future growth, with expectations of continued expansion in 2025 across its global housing, Connected Living, and global automotive businesses [15][16] - Management acknowledged the potential impact of a softening housing market but noted that the company could benefit from countercyclical trends [36] Other Important Information - The company returned $122 million to shareholders in Q3, including $81 million in share repurchases and $41 million in dividends [23] - The company completed the issuance of $300 million in senior notes, demonstrating strong demand for its investment-grade bonds [23][24] 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 [32] 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 [34] Question: How might a softening housing market affect top-line prospects? - Management acknowledged the benefits from a challenging voluntary market but indicated that a downturn could lead to increased placement rates [36] Question: What impact are the new partnerships in Connected Living expected to have? - Management indicated that the reverse logistics and Geek Squad deals will begin contributing in 2026, with ongoing investments expected to positively impact EBITDA [47] Question: How does the company plan to approach capital deployment in 2026? - Management highlighted a balanced approach to capital deployment, with expectations for continued investments in organic growth and M&A opportunities [50][52] Question: What are the notable drivers supporting recent housing results? - Management ranked policy growth as the primary driver, followed by placement rates and AIV increases, indicating a strong outlook for continued growth [65]

Financial Performance - Assurant's YTD 2025 adjusted EBITDA, excluding catastrophes, increased by 13% compared to the prior year period[11] - Assurant's YTD 2025 adjusted EPS, excluding catastrophes, increased by 15% compared to the prior year period[11] - Assurant generated $487 million in cash YTD 2025[11] - Assurant returned $331 million to shareholders YTD 2025, including share repurchases and common stock dividends[11] - Assurant Q3 2025 adjusted EBITDA, excluding catastrophes, increased by 13% to $434 million, compared to $385 million in Q3 2024[41] - Assurant Q3 2025 adjusted EPS, excluding catastrophes, increased by 13% to $576 per share, compared to $508 per share in Q3 2024[41] Segment Performance - Global Lifestyle adjusted EBITDA increased by 6% on a constant currency basis YTD 2025[20] - Global Housing adjusted EBITDA, excluding catastrophes, increased by 21% YTD 2025, reaching $773 million compared to $641 million in the prior year period[22, 25] - Global Housing combined ratio for YTD 2025 was 78%, or 83% excluding prior year development[27] Outlook and Capital Allocation - Assurant is increasing its 2025 enterprise outlook to low double-digit growth in adjusted EPS and approaching 10% growth in adjusted EBITDA, both excluding catastrophes[13] - Assurant repurchased $81 million in shares in Q3 2025, with an additional $27 million repurchased between October 1 and October 31[42]

Core Insights - Assurant reported revenue of $3.25 billion for the quarter ended September 2025, reflecting an 8.7% increase year-over-year and a surprise of +2.67% over the Zacks Consensus Estimate of $3.16 billion [1] - Earnings per share (EPS) reached $5.73, significantly higher than the $3.00 reported in the same quarter last year, resulting in an EPS surprise of +35.46% compared to the consensus estimate of $4.23 [1] Financial Performance Metrics - Net earned premiums, fees, and other income totaled $3.11 billion, exceeding the average estimate of $2.56 billion by five analysts, marking an 8.9% year-over-year increase [4] - Net investment income was reported at $133.5 million, slightly above the average estimate of $131.39 million, with a year-over-year change of +2.9% [4] - Fees and other income reached $484.4 million, surpassing the four-analyst average estimate of $463.68 million, representing a +10.3% change year-over-year [4] - Global Lifestyle's net earned premiums, fees, and other income amounted to $2.41 billion, exceeding the average estimate of $2.36 billion, with a year-over-year change of +7% [4] - Global Housing's net earned premiums were reported at $702.9 million, above the average estimate of $675.48 million, reflecting a +16.4% year-over-year increase [4] Stock Performance - Assurant's shares have returned -4.3% over the past month, contrasting with the Zacks S&P 500 composite's +2.1% change, indicating underperformance relative to the broader market [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the market in the near term [3]

Core Insights - Assurant reported quarterly earnings of $5.73 per share, exceeding the Zacks Consensus Estimate of $4.23 per share, and showing a significant increase from $3 per share a year ago, resulting in an earnings surprise of +35.46% [1] - The company achieved revenues of $3.25 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.67% and up from $2.99 billion year-over-year [2] Financial Performance - Over the last four quarters, Assurant has consistently surpassed consensus EPS estimates, achieving this four times [2] - The company has also topped consensus revenue estimates four times in the same period [2] Market Position - Assurant shares have underperformed the market, losing about 0.5% since the beginning of the year, while the S&P 500 has gained 16.5% [3] - The current Zacks Rank for Assurant is 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $5.04 on revenues of $3.23 billion, and for the current fiscal year, it is $17.81 on revenues of $12.66 billion [7] - The outlook for the insurance industry, particularly the Zacks Insurance - Multi line sector, is favorable, ranking in the top 36% of over 250 Zacks industries [8]

Financial Performance - GAAP net income for Q3 2025 increased 99% to $265.6 million compared to $133.8 million in Q3 2024[6] - Adjusted EBITDA rose 75% to $431.5 million in Q3 2025, with a 13% increase to $433.5 million when excluding reportable catastrophes[6] - Adjusted earnings per diluted share, excluding reportable catastrophes, increased 13% to $5.76 compared to $5.08 in Q3 2024[6] - GAAP net income for Q3 2025 was $265.6 million, compared to $133.8 million in Q3 2024, representing a 98.5% increase[26] - Adjusted EBITDA for Q3 2025 reached $431.5 million, up from $246.9 million in Q3 2024, indicating a 74.7% growth[26] - Adjusted earnings per diluted share for Q3 2025 reached $5.73, up from $3.00 in Q3 2024, representing a 91.0% increase[30] - Total revenues for Q3 2025 were $3,231.5 million, compared to $2,967.7 million in Q3 2024, reflecting an 8.9% increase[30] - Net earned premiums for Q3 2025 were $2,627.2 million, up 8.7% from $2,417.2 million in Q3 2024[30] Segment Performance - Global Housing adjusted EBITDA increased 177% to $256.3 million in Q3 2025, with net earned premiums rising 16% to $702.9 million[8] - Global Lifestyle adjusted EBITDA grew 12% to $206.8 million in Q3 2025, driven by double-digit earnings growth across Connected Living and Global Automotive[7] - Adjusted EBITDA for the Lifestyle segment in Q3 2025 was $206.8 million, while the Housing segment reported $256.3 million[26] Growth Expectations - The company expects low double-digit growth in adjusted earnings per share and adjusted EBITDA growth approaching 10% for the full year 2025, both excluding reportable catastrophes[4] - The company anticipates a corporate and other adjusted EBITDA loss of approximately $120 million for 2025[14] Capital Management - Share repurchases and common stock dividends totaled $122 million in Q3 2025, with approximately 398 thousand shares repurchased for $81 million[11] - Capital deployment priorities include maintaining a strong financial position, supporting business growth through investments and M&A, and returning capital to shareholders[18] - Common stock dividends per share increased to $0.80 in Q3 2025 from $0.72 in Q3 2024[30] Financial Position - The holding company liquidity position was $613 million as of September 30, 2025, exceeding the targeted minimum level by $388 million[11] - Total assets as of September 30, 2025, were $35,782.1 million, compared to $35,020.6 million at the end of 2024[31] - Policyholder benefits and claims payable decreased to $2,722.1 million from $3,450.9 million at the end of 2024[31] Economic Outlook - The company continues to monitor macroeconomic conditions, including tariffs, which may impact future performance[18] - Assurant's financial outlook remains cautious due to potential risks from economic conditions, competitive pressures, and operational execution challenges[20] - The company expects a full-year depreciation expense of approximately $150 million and an effective tax rate of 19% to 21%[29] Catastrophe Impact - The company reported a total of $188.8 million in reportable catastrophes for the first nine months of 2025, compared to $196.9 million in the same period of 2024[26] - Adjusted EBITDA excluding reportable catastrophes for Q3 2025 was $433.5 million, compared to $385.1 million in Q3 2024, reflecting a 12.0% increase[26] - Adjusted EBITDA for Q3 2025 increased by 74.8%, including foreign exchange impact[29] - The company reported a 12.6% increase in Adjusted EBITDA, excluding reportable catastrophes, when including foreign exchange impact[29] Operational Performance - Adjusted EBITDA for Q3 2025 increased significantly, driven by improved operational performance and lower volatility from catastrophes[27] - The company emphasizes the importance of Adjusted EBITDA as a measure of operating performance, excluding items that do not represent ongoing operations[24]

Core Insights - Zacks Premium provides various tools for investors to enhance their stock market engagement and confidence [1][2] Zacks Style Scores - Zacks Style Scores are indicators that rate stocks based on value, growth, and momentum methodologies, helping investors identify stocks likely to outperform the market in the short term [3][4] - Each stock is rated from A to F, with A indicating the highest potential for outperformance [4] Value Score - The Value Score focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, and Price/Sales [4] Growth Score - The Growth Score emphasizes a company's financial health and future growth potential, analyzing projected and historical earnings, sales, and cash flow [5] Momentum Score - The Momentum Score assesses stocks based on price trends and earnings outlook changes, helping investors identify optimal buying opportunities [6] VGM Score - The VGM Score combines the three Style Scores, providing a comprehensive rating that highlights stocks with attractive value, growth forecasts, and momentum [7] Zacks Rank - The Zacks Rank is a proprietary model that utilizes earnings estimate revisions to guide investors in stock selection [8] - Stocks rated 1 (Strong Buy) have historically achieved an average annual return of +23.93% since 1988, significantly outperforming the S&P 500 [9] Stock to Watch: Assurant (AIZ) - Assurant Inc. is a global risk management provider, operating in multiple regions including North America and Europe [12] - AIZ holds a 3 (Hold) rating on the Zacks Rank, with a VGM Score of A, indicating solid performance potential [12] - The company is projected to achieve year-over-year earnings growth of 6.2% for the current fiscal year, supported by upward revisions in earnings estimates [13]

Core Insights - Assurant, Inc. (AIZ) is anticipated to show improvements in both revenue and earnings for Q3 2025, with results expected to be reported on November 4 [1][9] - The Zacks Consensus Estimate for AIZ's Q3 revenues is $3.16 billion, reflecting a 5.8% increase year-over-year [1] - The consensus estimate for earnings per share is $4.06, indicating a year-over-year increase of 35.3% despite a slight downward revision of 0.2% in the past 30 days [2] Revenue and Earnings Estimates - The expected revenue for Q3 is $3.16 billion, with a growth of 5.8% from the previous year [1] - The estimated net earned premiums, fees, and other income for Q3 is $2.5 billion, representing a 4.6% increase [6] - Fees and other income are projected to rise by 10.9% to $486.9 million [6] Segment Performance - The Global Housing segment is expected to drive revenue growth, with a projected revenue of $711 million, an 11.8% increase from the previous year [8] - The Global Lifestyle segment is anticipated to generate $2.4 billion in revenue, reflecting a 4.8% growth [10] - Growth in the Global Lifestyle segment is attributed to Connected Living and improved loss experience in Global Automotive [9] Investment Income and Expenses - Net investment income is estimated at $125.1 million, influenced by higher yields and assets in fixed maturity securities [7] - Total expenses are expected to reach $2.8 billion, driven by increased underwriting and administrative costs [10] Earnings Prediction Model - The current Earnings ESP for AIZ is -0.05%, indicating that the model does not predict an earnings beat this time [3] - AIZ holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook [4]

Core Insights - Assurant, Inc. (AIZ) is a risk management solutions provider with a market cap of $9.4 billion, specializing in lifestyle and housing protection products [1] - The company is expected to announce its fiscal third-quarter earnings for 2025 on November 4, with analysts predicting a profit of $4.06 per share, a 35.3% increase from the previous year [2] - AIZ's stock has increased by 5.9% over the past year, underperforming compared to the S&P 500 Index's 14.8% gains [4] Financial Performance - For the current year, analysts forecast AIZ to report an EPS of $17.59, reflecting a 5.7% increase from $16.64 in fiscal 2024 [3] - The EPS is projected to rise by 15.8% year-over-year to $20.37 in fiscal 2026 [3] - In Q2 2025, AIZ reported an adjusted EPS of $5.56, exceeding estimates, with revenue rising about 8% year-over-year to $3.2 billion, driven by growth in Global Housing and Global Lifestyle segments [5] Analyst Ratings - The consensus opinion on AIZ stock is moderately bullish, with four out of seven analysts recommending a "Strong Buy" and one a "Moderate Buy" [6] - The average analyst price target for AIZ is $233.20, indicating a potential upside of 25.6% from current levels [6]

Core Insights - Assurant, Inc. (AIZ) has acquired the mobile device test automation technology portfolio from OptoFidelity to enhance efficiency and value for its partners [1][10] - The acquisition aligns with Assurant's strategy to invest in technologies that support growth and innovation in its Global Connected Living business [2][5] Group 1: Acquisition Details - OptoFidelity has delivered over 9,000 advanced mobile device testing systems globally since its founding in 2005, known for precision and repeatability [2] - The acquisition will allow Assurant to repurpose a greater volume of devices with enhanced precision and efficiency, meeting growing demand and maintaining high-quality standards [3][4] Group 2: Strategic Growth Initiatives - Assurant aims to strengthen global partnerships and invest in technology, including digital and AI, to drive growth [5] - The opening of the Innovation and Device Care Center in October 2024 supports mobile device lifecycle solutions and enhances automation capabilities [6] Group 3: Future Collaborations - Assurant will collaborate with FutureDial, a key customer of the acquired technology, to ensure continued support and service for clients [7][10] Group 4: Business Impact - The acquisition is expected to bolster Assurant's Connected Living business, which provides mobile device solutions and contributes to top-line growth [8] - Assurant's shares have gained 5.2% over the past year, outperforming the industry growth of 2.5% [9]