Assurant, Inc.

Company description

Assurant is a global protection company that partners with leading brands to safeguard and service connected devices, homes, and automobiles. The company uses data-driven technology to deliver integrated protection solutions and services with a focus on customer experience.

Operating segments:

• Global Lifestyle
  • Connected Living: mobile device solutions (extended service contracts, device insurance, device lifecycle services) and financial services products.
  • Global Automotive: vehicle protection services, including vehicle service contracts (VSCs) and ancillary products (for vehicles and commercial equipment).
• Global Housing
  • Homeowners: lender-placed homeowners, manufactured housing, flood insurance, and voluntary manufactured housing, condominium and homeowners insurance.
  • Renters and Other: renters insurance and additional property-related products; administers a significant NFIP (National Flood Insurance Program) program on behalf of the U.S. government (100% reinsured).

Business model: primarily B2B2C, with many multi-year exclusive client relationships and integrations with clients’ systems to deliver end-to-end protection and related services.

Geographic and client footprint

• Global Lifestyle revenue is concentrated in North America (about 80.7% of Lifestyle revenue in 2025) with smaller shares in Latin America, Europe, and Asia Pacific.
• Global Housing distribution centers on lenders and servicers, manufactured housing lenders, property managers, and financial/insurance clients. Renters products are distributed via property managers and affinity partners.
• Typical client contract terms are multi-year (3–5 years), and the company emphasizes long-term, exclusive relationships.

2025 workforce, assets and capital

• Employees: approximately 14,800 (as of December 31, 2025).
• Global footprint: presence in 21 markets; workforce spans more than 80 nationalities.
• Total assets: $36.29 billion (as of December 31, 2025).
• Debt to total capital: 27.3%.

2025 revenue (net earned premiums, fees and other income)

• Global Lifestyle: $9,582.5 million (2025)
  • Connected Living: $5,378.7 million
  • Global Automotive: $4,203.8 million
• Global Housing: $2,768.8 million (2025)
  • Sub-products: Homeowners and Renters and Other
• Consolidated total (all segments): $12,351.3 million (2025)

Comparatives:

• 2024: Lifestyle $8,967.3 million; Housing $2,457.0 million; Consolidated $11,424.3 million
• 2023: Lifestyle $8,561.4 million; Housing $2,142.9 million; Consolidated $10,704.3 million

2025 profitability metrics (segment-level)

• Global Lifestyle: Segment Adjusted EBITDA $801.3 million
• Global Housing: Segment Adjusted EBITDA $858.7 million
• Segment equity (net of AOCI):
  • Global Lifestyle: $5,163.2 million
  • Global Housing: $1,659.3 million

Capital return, liquidity and financing

• Dividends/returns of capital from subsidiaries (net of infusions, excluding acquisitions/dispositions): $925.1 million (2025).
• Share repurchases and common stock dividends returned to shareholders: $468.3 million.
• August 2025: issued $300.0 million of 5.55% senior notes due 2036; proceeds used to redeem $175.0 million of 6.10% senior notes due 2026.
• Liquidity framework includes a credit facility and liquid assets; as a holding company, core liquidity sources are subsidiary dividends, investment portfolio cash flows, and financing arrangements.

Key business and product descriptions

• Global Lifestyle
  • Connected Living: mobile device protection, extended service contracts, device lifecycle services, insurance products, and related services. Provides an end-to-end platform for onboarding, claims handling, repair, logistics, and reverse logistics, including AI-driven fulfillment and approximately 1,150 repair/partner locations.
  • Global Automotive: vehicle protection (VSCs) and ancillary products for vehicles and commercial equipment, plus risk management, data analytics, training, claims handling, and reinsurance facilitation.
• Global Housing
  • Homeowners: lender-placed homeowners insurance, manufactured housing insurance, flood insurance, and voluntary homeowners offerings.
  • Renters and Other: renters insurance and government NFIP administration (fee-based and claims processing; 100% reinsured to the U.S. government).

Reinsurance and risk management

• Uses reinsurance to manage catastrophe and non-catastrophe risk; 2025 reinsurance premiums totaled $203.2 million pre-tax.
• U.S. Florida program interacts with FHCF; the U.S. program provides coverage beyond standard policy limits.

Risk governance and control

• Global Risk Management reports to the Board through a formal framework. The company operates a three-lines-of-defense model (business/first line; risk/compliance second line; IAAS third line) with active Board oversight.

Scale and dependency

• Global Lifestyle depends on a relatively small number of key clients (exclusive, multi-year relationships with carriers, OEMs, distributors, retailers, and financial institutions). Loss of one or more major clients could affect results.
• Global Housing similarly depends on a few large mortgage lenders, servicers, and other partners; regulatory and market developments affecting lender-placed or NFIP-related business could impact results.

Public disclosures and accessibility

• The company provides governance, risk management, and regulatory disclosures through SEC filings and investor relations channels on its website.