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]

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]