Assurant (AIZ) Q3 2025 earnings summary

Executive summary

• Achieved 13% year-to-date growth in Adjusted EBITDA and 15% growth in Adjusted EPS, both excluding reportable catastrophes, with strong performance in Global Housing and Global Lifestyle segments.

• Consolidated net income rose 99% year-over-year to $265.6M for Q3 2025, driven by lower catastrophe losses and growth in both Global Housing and Global Lifestyle.

• Raised full-year 2025 outlook, expecting low double-digit growth in adjusted EPS and nearly 10% growth in adjusted EBITDA, excluding catastrophes.

• Maintained strong capital position and disciplined capital return, with $487M cash generated and $331M returned to shareholders year-to-date.

• Recognized by Time as one of the world's best companies for the third consecutive year.

Financial highlights

• Q3 2025 Adjusted EBITDA (excluding catastrophes) grew 13% year-over-year to $434M; Adjusted EPS (excluding catastrophes) rose 13% to $5.76.

• GAAP net income for Q3 2025 was $265.6M, up 99% from Q3 2024; nine-month net income rose 16% year-over-year.

• Global Housing Q3 Adjusted EBITDA was $256M ($259M excluding catastrophes), up 13% year-over-year; Global Lifestyle Adjusted EBITDA up 12% to $207M.

• Net earned premiums, fees, and other income for Global Lifestyle grew 7% year-over-year; Global Housing grew 16%.

• Holding company liquidity at quarter end was $613M; $122M returned to shareholders in Q3 ($81M in share repurchases, $41M in dividends).

Outlook and guidance

• Full-year 2025 adjusted EPS expected to grow low double digits; Adjusted EBITDA growth approaching 10%, both excluding catastrophes.

• Global Housing and Global Lifestyle expected to deliver strong growth for the year; $300M in share repurchases planned.

• Strategic investments of approximately $15M in 2025 for high-impact programs in Global Housing.

• Additional investments and a new adjacent business program anticipated in 2026, with more details to be provided in February.

• Depreciation expense expected at $150M, interest expense $110M, and effective tax rate between 19% and 21%.