$AIZN

ASSURANT, INC.

CIK:0001267238|SEC Filings

Consolidated Statements of Operations (unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Net earned premiums	$ 2,767.4	$ 2,587.7	$ 5,549.3	$ 5,150.0
Fees and other income	554.6	463.7	1,054.4	866.6
Net investment income	142.4	128.7	302.0	253.5
Net realized losses on investments (including $2.4, $0.0, $(3.2) and $(3.0) of impairment-related gains (losses) for the three and six months ended June 30, 2026 and 2025, respectively) and fair value changes to equity securities	(10.2)	(21.7)	(31.4)	(37.7)
Total revenues	3,454.2	3,158.4	6,874.3	6,232.4
Benefits, losses and expenses
Policyholder benefits	748.3	721.5	1,517.4	1,501.2
Underwriting, selling, general and administrative expenses	2,300.6	2,121.2	4,587.7	4,205.0
Interest expense	28.4	26.7	56.7	53.5
Total benefits, losses and expenses	3,077.3	2,869.4	6,161.8	5,759.7
Income before income tax expense	376.9	289.0	712.5	472.7
Income tax expense	78.3	53.7	139.8	90.8
Net income	$ 298.6	$ 235.3	$ 572.7	$ 381.9
Earnings Per Common Share
Basic (in dollars per share)	$ 5.98	$ 4.60	$ 11.45	$ 7.46
Diluted (in dollars per share)	$ 5.95	$ 4.56	$ 11.34	$ 7.38
Share Data
Weighted average common shares outstanding used in basic per common share calculations (in shares)	49,520,710	50,675,804	49,611,108	50,737,072
Plus: Dilutive securities (in shares)	310,706	436,547	471,659	511,121
Weighted average common shares outstanding used in diluted per common share calculations (in shares)	49,831,416	51,112,351	50,082,767	51,248,193

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	3 Months Ended				6 Months Ended		9 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Dec. 31, 2025	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026
Operating activities
Net income	$ 298.6			$ 235.3	$ 572.7	$ 381.9
Noncash revenues, expenses, gains and losses included in net income from operations:
Deferred tax expense					90.7	26.6
Depreciation and amortization					134.1	115.7
Net realized losses on investments, including impairment losses					31.4	37.7
Loss on sale of business		$ 0.5	$ 10.7		0.5	0.0	$ 11.2
Stock based compensation expense					43.4	37.5
Restructuring costs					0.0	(1.4)
Changes in operating assets and liabilities:
Insurance policy reserves and expenses					183.9	(394.3)
Premiums and accounts receivable					(2.9)	163.8
Commissions payable					(20.9)	26.4
Reinsurance recoverable					121.1	236.1
Funds withheld under reinsurance					16.7	(11.3)
Deferred acquisition costs and value of business acquired					(172.3)	(94.2)
Taxes receivable					(83.5)	(110.1)
Other assets and other liabilities					(199.1)	224.4
Other					(21.1)	19.1
Net cash provided by operating activities					694.7	657.9
Sales of:
Fixed maturity securities available for sale					966.6	650.2
Equity securities					30.3	24.9
Other invested assets					40.8	21.1
Subsidiary, net of cash transferred					1.4	0.0
Maturities, calls, prepayments, and scheduled redemption of:
Fixed maturity securities available for sale					401.6	424.2
Commercial mortgage loans on real estate					41.1	39.1
Purchases of:
Fixed maturity securities available for sale					(1,814.5)	(1,702.9)
Equity securities					(19.5)	(16.4)
Commercial mortgage loans on real estate					(21.6)	(26.6)
Other invested assets					(71.3)	(52.8)
Property and equipment and other					(92.9)	(113.3)
Subsidiaries, net of cash transferred					(15.3)	0.0
Change in short-term investments					46.7	(32.2)
Other					0.2	0.2
Net cash used in investing activities					(506.4)	(784.5)
Financing activities
Acquisition of common stock					(201.8)	(127.6)
Common stock dividends paid					(91.9)	(83.6)
Employee stock purchases and withholdings					(32.2)	(11.8)
Net cash used in financing activities					(325.9)	(223.0)
Effect of exchange rate changes on cash and cash equivalents					2.2	28.6
Change in cash and cash equivalents					(135.4)	(321.0)
Cash and cash equivalents at beginning of period		$ 1,834.1			1,834.1	1,807.7
Cash and cash equivalents at end of period	$ 1,698.7		$ 1,834.1	$ 1,486.7	$ 1,698.7	$ 1,486.7	$ 1,698.7

Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Investments:
Fixed maturity securities available for sale, at fair value (net of allowances for credit losses of $— and $1.9 at June 30, 2026 and December 31, 2025, respectively; amortized cost - $9,133.1 and $8,635.3 at June 30, 2026 and December 31, 2025, respectively)	$ 8,989.5	$ 8,577.7
Equity securities at fair value	195.7	207.1
Commercial mortgage loans on real estate, at amortized cost (net of allowances for credit losses of $6.3 and $6.7 at June 30, 2026 and December 31, 2025, respectively)	305.4	324.7
Short-term investments	335.2	379.5
Other investments	631.7	573.0
Total investments	10,457.5	10,062.0
Cash and cash equivalents	1,698.7	1,834.1
Premiums and accounts receivable (net of allowances for credit losses of $16.8 and $10.4 at June 30, 2026 and December 31, 2025, respectively)	2,008.4	1,989.4
Reinsurance recoverables (net of allowances for credit losses of $5.2 at June 30, 2026 and December 31, 2025)	6,350.1	6,471.3
Accrued investment income	133.1	135.4
Deferred acquisition costs	10,380.0	10,187.6
Property and equipment, net	849.6	841.7
Goodwill	2,656.3	2,646.3
Other intangible assets, net	487.7	522.0
Other assets (net of allowances for credit losses of $0.9 at June 30, 2026 and December 31, 2025)	1,060.0	1,087.4
Assets held for sale (Note 4)	0.0	512.4
Total assets	36,081.4	36,289.6
Liabilities
Future policy benefits and expenses	53.8	55.7
Unearned premiums	21,105.5	20,881.4
Liability for Claims and Claims Adjustment Expense	2,109.6	2,101.2
Commissions payable	623.3	640.6
Funds held under reinsurance	282.0	266.4
Accounts payable and other liabilities (including allowances for credit losses of $0.6 and $0.9 at June 30, 2026 and December 31, 2025, respectively, for the unsecured portion of the high deductible recoverables)	3,601.2	3,766.3
Debt	2,208.1	2,206.9
Liabilities held for sale (Note 4)	0.0	499.5
Total liabilities	29,983.5	30,418.0
Commitments and contingencies (Note 14)
Stockholders’ equity
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 51,678,269 and 52,089,008 shares issued and 49,382,180 and 49,792,919 shares outstanding at June 30, 2026 and December 31, 2025, respectively	0.5	0.5
Additional paid-in capital	1,685.9	1,711.8
Retained earnings	5,134.3	4,826.3
Accumulated other comprehensive loss	(600.0)	(544.2)
Treasury stock, at cost; 2,296,089 shares at June 30, 2026 and December 31, 2025	(122.8)	(122.8)
Total stockholders’ equity	6,097.9	5,871.6
Total liabilities and stockholders’ equity	$ 36,081.4	$ 36,289.6