Assurant, Inc. (AIZ)

Assurant reported record second-quarter 2026 earnings on 4 August: net income of $298.6 million, up 27 percent from $235.3 million a year earlier 1.

Both of its main businesses grew 1. Adjusted EBITDA, a profit measure that leaves out interest, taxes and similar items, rose 21 percent to $244.4 million in Global Lifestyle and 28 percent to $274.8 million in Global Housing 1.

Global Lifestyle protects phones, appliances and cars through partners such as carriers, retailers and dealers 3. Global Housing insures homes on behalf of mortgage lenders and rents 3.

The company raised its 2026 outlook again and now expects adjusted EBITDA and adjusted earnings per share, both before reportable catastrophes (large single events such as storms), to grow mid single digits 1.

In March 2026 it sold a subsidiary that held runoff businesses, including its long-term care business 2.

Assurant took its present form in 2004 4. Fortis, Inc., a Nevada company owned by the Dutch and Belgian Fortis groups, merged into a new Delaware company named Assurant on 4 February 2004 4. Its shares began trading on the New York Stock Exchange the next day 4.

Back then it ran four businesses: Assurant Solutions, Assurant Health, Assurant Employee Benefits and Assurant PreNeed 4. Solutions, which sold homeowners cover for lenders, warranties and extended service contracts, brought in $2,770 million of revenue in 2004 4.

In January 2005 the Fortis groups sold 27,200,000 shares to the public, which ended Fortis's role as the company's parent 4.

The biggest change came in 2016 5. Assurant sold its employee benefits business, which wrote group dental, disability and life cover, to Sun Life on 1 March 2016 5. It also wound down Assurant Health, its health insurance arm 6.

The company said it was refocusing on specialty housing and lifestyle protection, and bought American Title in July 2016 5. It also agreed in December 2016 to buy Green Tree Insurance Agency, a deal that closed in February 2017 5.

Revenue shrank with the exits, from $10,325.5 million in 2015 to $7,531.8 million in 2016 and $6,415.0 million in 2017 6. It then rose to $8,057.6 million in 2018 6.

The 2018 rise came from a purchase 6. On 31 May 2018 Assurant bought TWG Holdings, which sells service contracts on cars, electronics and appliances, for a total enterprise value of $2.47 billion 6. On 3 December 2018 it sold Time Insurance Company, part of the runoff health business, for $30.9 million 6.

In August 2021 Assurant sold its Global Preneed business, which sold pre-funded funeral insurance, to CUNA Mutual Group for $1.34 billion in cash 74. The same year the Hyla Mobile purchase helped phone trade-in volumes 7.

Keith Demmings became chief executive on 1 January 2022 8. Net income that year fell 54 percent to $276.6 million, mainly on losses at Assurant Ventures, its venture capital team, and on bond sales 8.

Profit then recovered to $872.7 million in 2025, up 15 percent, on higher Global Housing earnings, fewer reportable catastrophes and Lifestyle growth 3.

Connected Living

Connected Living sells protection and repair for phones, appliances and electronics through carriers, retailers and banks 3. It earned $5,378.7 million of premiums, fees and other income in 2025, and 53.0 percent of that came from mobile devices 3.

The company repairs devices in a network of about 1,150 repair and partner locations 3. It says Global Lifestyle depends on a few clients, in particular mobile carriers and cable companies 3.

Global Automotive

Global Automotive underwrites and runs vehicle service contracts, which pay for repairs when a covered vehicle breaks down 3. Its income was $4,203.8 million in 2025 against $4,159.4 million in 2024 3.

Homeowners

Lender-placed insurance protects a mortgage lender when a homeowner lets cover lapse, and Assurant tracks the loans to find uninsured homes 3. Homeowners income was $2,192.4 million in 2025, and Global Housing's adjusted EBITDA was $858.7 million 3.

Renters and flood

Renters and Other brought in $576.4 million in 2025 3. Assurant is the second largest administrator for the U.S. government under the voluntary National Flood Insurance Program, and that business is 100 percent reinsured to the government 3.

People, places and rivals

Keith Demmings is president and chief executive 1. Michael Campbell became chief operating officer in September 2025 3. The company had about 14,800 employees at the end of 2025 3.

It owns three properties, including a shared headquarters in Atlanta, Georgia 3. No single competitor rivals it in every line, but it faces insurers, warranty firms, mobile repair firms and insurtech start-ups 3.

The umbrella, in words

Assurant, Inc. is a holding company with limited direct operations of its own, and its assets consist mainly of the capital stock of its subsidiaries 2. Its subsidiary list includes American Bankers Insurance Company of Florida, American Security Insurance Company and Assurant Home Solutions, Inc. 9.

Assurant Vehicle Care is its main dealer services product 3. Assurant Ventures is its corporate venture capital team, which invests in other companies 8.

T. Rowe Price Investment Management reported on a Schedule 13G/A that it owned 4.9 percent of the common stock as of 30 June 2026 10.

The company expects adjusted EBITDA before reportable catastrophes to rise mid single digits in 2026 1. It expects Global Lifestyle to rise low double digits and Global Housing to grow modestly 1.

It expects Corporate and Other to lose about $145 million at the adjusted EBITDA level, from higher employee-related expenses 1.

The company expects share repurchases toward the upper end of its $300 million to $350 million range, and $544 million remained under the current authorization 1. It also expects an effective tax rate of about 19 to 21 percent and interest expense of about $113 million 1.

Its capital priorities include funding organic investments and acquisitions, and it says it intends to enter adjacent markets such as home warranty 13.

The Miami property sale, agreed at $126.0 million, depends on the buyer receiving development approvals, and the company says there is no assurance it will close 2.