Financial Data and Key Metrics Changes - In 2025, the company achieved 11% growth in adjusted EBITDA and 12% growth in adjusted earnings per share, both excluding catastrophes. Including catastrophes, adjusted EBITDA and adjusted EPS grew 16% and 19% respectively [4][6] - Adjusted EPS, excluding catastrophes, reached $22.81 per share, reflecting a high teens compound annual growth rate since 2020 [6] - The company generated a total shareholder return of 93% over the past five years [6] Business Line Data and Key Metrics Changes - Global Lifestyle saw mid-single-digit adjusted EBITDA growth, driven by Connected Living and Global Automotive [7] - In Connected Living, adjusted EBITDA grew mid-single digits, with nearly 2 million new protected devices added over the past year, totaling over 66 million devices globally [7][8] - Global Housing's adjusted EBITDA grew double digits, surpassing $1 billion, with a strong underlying combined ratio of 80% [10][11] Market Data and Key Metrics Changes - The company reported a 5% increase in enforced policies year-over-year in the lender-placed homeowners market, driven by a hardening voluntary homeowners market [10] - In renters, policies increased by 15%, supported by new portfolio onboarding [11] Company Strategy and Development Direction - The company is focused on investing in innovation across its lifestyle and housing businesses to drive long-term value creation [4] - The entry into the home warranty market is seen as a path to market leadership, leveraging existing capabilities and partnerships [13][14] - The company aims to expand its market position in 2026, with expectations of high single-digit earnings growth in Global Lifestyle and solid underlying growth in Global Housing [15][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory heading into 2026, with expectations for continued strong performance in both Global Lifestyle and Global Housing [17][22] - The company anticipates mid to high single-digit growth in adjusted EBITDA and earnings per share for 2026, excluding prior-year reserve development [22] Other Important Information - The company returned $138 million to shareholders in 2025, including $94 million in share repurchases and $44 million in dividends [20] - The company completed four small acquisitions in 2025 to enhance its products and capabilities [21] Q&A Session Summary Question: Can you help us unpack the Connected Living growth in the context of the guidance? - Management noted that while premium growth accelerated, investments and new client programs are offsetting some of that growth [27][30] Question: How do you feel about the reserve confidence in housing? - Management expressed confidence in the reserve position and noted strong underlying growth in housing [31][33] Question: What are the main competitors in the home warranty channel? - Management indicated that the market is fragmented with many players, presenting significant growth opportunities [100] Question: What is the expected investment for the home warranty business in 2026? - Management indicated an expected investment of $15 million-$20 million for the home warranty business in 2026 [42] Question: How is AI being incorporated into the business? - Management highlighted the use of AI to improve customer experience, operational efficiency, and product personalization [58][59] Question: What is the outlook for share repurchases? - Management indicated a strong capital position and plans for share repurchases in the range of $250 million-$350 million for 2026 [116]

Assurant (NYSE:AIZ) Q4 2025 Earnings call February 11, 2026 08:00 AM ET Company ParticipantsKeith Demmings - President and CEOKeith Meier - CFOSean Moshier - VP of Investor RelationsConference Call ParticipantsBob Huang - Equity Research AnalystCharles Lederer - Equity Research AnalystDan Lukepenot - Equity Research AnalystJeffrey Schmitt - Equity Research AnalystJohn Barnidge - Equity Research AnalystMark Hughes - Equity Research AnalystTommy McJoynt - Equity Research AnalystNone - AnalystOperatorWelcome t ...

Assurant (NYSE:AIZ) Q4 2025 Earnings call February 11, 2026 08:00 AM ET Speaker8Welcome to Assurant Fourth Quarter 2025 conference call and webcast. At this time, all participants have been placed in a listen-only mode, and the floor will be open for your questions following management's prepared remarks. We ask that you please hold all questions until the completion of the formal remarks, at which time you will be given instructions for the question-and-answer session. It is now my pleasure to turn the flo ...

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]