Assurant, Inc.

“We are a premier global protection company that partners with the world’s leading brands to safeguard and service connected devices, homes and automobiles.”

“Global Housing: includes lender-placed homeowners, manufactured housing and flood insurance, as well as voluntary manufactured housing, condominium and homeowners insurance (referred to as “Homeowners”); and renters insurance and other products (referred to as “Renters and Other”).”

“Global Lifestyle: includes mobile device solutions (including extended service contracts, insurance policies and related services), extended service contracts and related services for consumer electronics and appliances, and financial services and other insurance products (referred to as “Connected Living”); and vehicle protection services, commercial equipment protection and other related services (referred to as “Global Automotive”)”

“Our business model in our Global Lifestyle and Global Housing segments focuses on business-to-business-to-consumer (B2B2C) distribution, partnered with some of the world’s leading brands.”

“Global Lifestyle $ 801.3 $ 773.4 $ 792.3 Global Housing 858.7 671.2 574.2 Corporate and Other (123.8) (122.2) (109.0)”

“For full-year 2025, our global turnover rate was 11%, reflecting our blended workforce of frontline and managerial roles; turnover for managerial roles was 5%, and turnover for frontline employees was 14%”

“Our mobile business is subject to volatility in mobile device trade-in volumes and margins based on the actual and anticipated timing of the release of new devices, carrier promotional programs and sales prices for used devices”

“During 2024, the mainland China operations were sold and were no longer included in non-core operations commencing with first quarter 2025.”

“Global Housing Adjusted EBITDA increased $187.5 million, or 28%, to $858.7 million for Twelve Months 2025 from $671.2 million for Twelve Months 2024, including $46.4 million of lower pre-tax reportable catastrophes.”

“Global Lifestyle net earned premiums, fees and other income increased $615.2 million, or 7%, to $9.58 billion for the Twelve Months 2025 from $8.97 billion for Twelve Months 2024, primarily due to global mobile programs and from a new program in financial services within Connected Living and modest growth in Global Automotive.”

“by entering into attractive adjacent markets (such as home warranty), while continuing to invest in talent, capabilities and technology to enable us to deliver a superior customer experience.”

“In August 2025, we issued $300.0 million of 5.55% senior notes due 2036 and used the net proceeds to redeem all of the $175.0 million outstanding aggregate principal amount of our 6.10% senior notes due 2026.”

“In Global Housing, we continued to outperform through policy growth in lender-placed, supported by a hardened voluntary homeowners’ insurance market and our success renewing key clients and winning new partnerships.”

“Consolidated net income increased $112.5 million, or 15%, to $872.7 million for Twelve Months 2025 from $760.2 million for Twelve Months 2024, primarily due to higher segment earnings in Global Housing, lower reportable catastrophes and growth in Global Lifestyle, partially offset by a higher effective tax rate and restructuring costs.”

“As of December 31, 2025, we had $36.29 billion in total assets and our debt to total capital was 27.3%.”

“Changes in insurance regulation may reduce our profitability and limit our growth.”

“Because Global Housing’s lender-placed homeowners and lender-placed manufactured housing insurance products are designed to automatically provide property coverage for client portfolios, our exposure to certain catastrophe-prone locations, such as Florida, California and Texas, may increase.”

“Our revenues and profits may decline if we are unable to maintain relationships with significant clients, distributors and other parties, or renew contracts with them on favorable terms”

“General inflationary pressures and supply chain disruptions, including within the current environment, has and may continue to increase the costs of paying claims, including for materials and labor, particularly in our Global Housing and Global Automotive businesses.”

“We utilize third-party cloud service providers in connection with certain key aspects of our business and operations, and any disruption of, or interference with, our use of such cloud services could have a material adverse impact on our business and operations.”