Assurant (AIZ) Q4 2025 earnings summary

Executive summary

• Achieved ninth consecutive year of profitable growth, with double-digit increases in adjusted EBITDA and EPS, both excluding and including catastrophes for 2025.

• 2025 net income rose 15% to $872.7M, with strong performance across Global Lifestyle and Global Housing segments.

• Recognized by Forbes and Fortune for employer excellence and innovation, reflecting a strong, collaborative culture.

• Continued to expand partnerships, launch new products (e.g., Home Warranty), and invest in innovation, driving operational efficiencies and customer experience improvements.

• Five-year average ROE of ~14% and return on tangible equity over 30%, delivering 93% total shareholder return.

Financial highlights

• 2025 adjusted EBITDA grew 11% and adjusted EPS 12% (ex-CATs); including catastrophes, adjusted EBITDA and EPS grew 16% and 19%.

• Adjusted EBITDA (ex-CATs) reached $1.73B in 2025, with a 5-year CAGR of 11%; adjusted EPS (ex-CATs) was $22.81, with a 5-year CAGR of 17%.

• GAAP net income for 2025 rose 15% to $872.7M; net earned premiums, fees, and other income for 2025 totaled $12.35B, up 8%.

• Year-end liquidity stood at $887M; $468M returned to shareholders in 2025 via share repurchases and dividends.

• Global Housing delivered 15% adjusted EBITDA growth (ex-CATs), marking the third consecutive year of double-digit earnings growth.

Outlook and guidance

• 2026 full-year adjusted EBITDA and EPS expected to be consistent with 2025 (ex-CATs), overcoming $113M prior-year reserve development and home warranty investments.

• Excluding these impacts, mid- to high-single-digit growth in adjusted EBITDA and EPS (ex-CATs) anticipated.

• Global Lifestyle expected to lead growth with high single-digit earnings expansion; Global Housing to show solid underlying growth.

• 2026 share repurchases guided at $250M–$350M, up from $200M–$300M in 2025.

• Corporate and Other Adjusted EBITDA loss expected to approximate $140M, reflecting investments in Home Warranty.