Assurant (AIZ) Q1 2026 earnings summary

Executive summary

• Achieved record first quarter results, with GAAP net income up 87% year-over-year to $274.1 million, driven by strong Global Lifestyle performance and lower catastrophe losses.

• Adjusted EBITDA rose 56% to $441.5 million, and Adjusted earnings per diluted share excluding catastrophes increased 9% to $6.33.

• Net earned premiums, fees, and other income grew 11% to $3.28 billion, reflecting growth in both Global Lifestyle and Global Housing segments.

Financial highlights

• GAAP net income per diluted share increased 91% to $5.41 compared to $2.83 in Q1 2025.

• Adjusted EBITDA excluding reportable catastrophes was $465.9 million, up 6% year-over-year.

• Net investment income rose to $159.6 million from $124.8 million in Q1 2025.

• Share repurchases and dividends totaled $169 million in Q1 2026, with $125 million spent on buybacks.

Outlook and guidance

• 2026 outlook raised: Adjusted EBITDA and Adjusted EPS (excluding catastrophes) expected to grow low single digits, or high single digits on an underlying basis.

• Global Lifestyle Adjusted EBITDA projected to grow ~10%; Global Housing Adjusted EBITDA (ex-catastrophes) to decline modestly.

• Share repurchases for 2026 now expected at $300–$350 million, at the upper end of guidance.

• Depreciation expense forecast at ~$180 million, effective tax rate at 19–21%.