AIZ · Assurant, Inc.

Assurant’s Q1 2026 results marked its strongest quarter ever, propelled by a sharp 87% year-over-year increase in GAAP net income to $274.1 million and a 56% rise in Adjusted EBITDA to $441.5 million — both primarily driven by a $132.3 million reduction in pre-tax reportable catastrophes in Global Housing and double-digit earnings growth across Connected Living and Global Automotive within Global Lifestyle. Excluding catastrophes, Adjusted EBITDA grew 6% to $465.9 million, reflecting resilient underlying performance: Global Lifestyle delivered 20% Adjusted EBITDA growth (including a $10 million gain from a real estate joint venture in Global Automotive), while Global Housing’s ex-catastrophe Adjusted EBITDA declined 3% due to $8 million lower favorable prior-year reserve development, though underlying non-catastrophe loss experience normalized versus an unusually benign Q1 2025. Management attributed the improved trajectory to subscriber growth in mobile protection, stronger trade-in volumes, extended service contract expansion (including a new U.S. program), and higher lender-placed policies in-force. In response to the strong start, Assurant raised its full-year 2026 outlook — now targeting low single-digit growth for both Adjusted EBITDA and Adjusted EPS excluding reportable catastrophes — and affirmed its capital return commitment, having repurchased $125 million of stock in Q1 and retaining $620 million under its current authorization. Holding company liquidity remained robust at $836 million as of March 31, 2026 — well above the $225 million minimum — supporting continued organic investment, M&A readiness, and shareholder returns.