Assurant (AIZ) Q4 2025 earnings summary

Executive summary

• Achieved ninth consecutive year of profitable growth, with double-digit increases in adjusted EBITDA and EPS, and 2025 net income up 15% year-over-year, driven by strong performance in both Global Lifestyle and Global Housing segments.

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

• Expanded market leadership in Lifestyle and Housing, driven by innovation, technology, and strategic partnerships, including entry into the home warranty market.

• Strong capital position with $925M cash generated and $468M returned to shareholders in 2025.

Financial highlights

• Adjusted EBITDA grew 11% and adjusted EPS 12% year-over-year (excluding catastrophes); including catastrophes, adjusted EBITDA and EPS grew 16% and 19%.

• Adjusted EPS (excluding catastrophes) reached $22.81 per share, with a high teens CAGR since 2020.

• GAAP net income for 2025 rose 15% to $872.7M; Q4 net income increased 12% to $225.2M year-over-year.

• Total shareholder return of 93% over the last five years.

• Year-end liquidity stood at $887M; $138M returned to shareholders in Q4, including $94M in repurchases and $44M in dividends.

Outlook and guidance

• 2026 full-year adjusted EBITDA and EPS expected to be consistent with 2025, or increase mid- to high single digits when excluding $113M favorable prior-year reserve development.

• Global Lifestyle anticipated to lead growth with high single-digit earnings expansion in 2026; Global Housing to show solid underlying growth, excluding prior year reserve development.

• 2026 catastrophe reinsurance program to maintain robust coverage; annual CAT load assumption is $180–$185M.

• 2026 share repurchases expected in the range of $250M–$350M, up from last year.

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