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.”

“we have established Global Capability Centers, which are global talent hubs in key markets, to leverage our global scale and access best-in-class talent”

“As of December 31, 2025, we had two reportable operating segments”

“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”)”

“Through our Global Lifestyle segment, we provide mobile device solutions, extended service contracts and related services for consumer electronics and appliances, and credit 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”).”

“we provide 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”).”

“exclusive and non-exclusive relationships with the mobile eco-system (including carriers, retailers, OEMs and cable MSOs), dealerships and agents, consumer electronics retailers, appliance retailers”

“in Global Housing, exclusive and non-exclusive relationships with mortgage lenders and servicers, manufactured housing lenders, property managers, and financial, insurance and other institutions”

“53.0%, 50.6%, and 44.8%, respectively, of net earned premiums, fees and other income was from mobile device solutions; 34.4%, 38.8%, and 44.7%, respectively, was from extended service contracts and related services for consumer electronics and appliances”

“consumer demand for the mobile devices, electronics, appliances, automobiles, housing and other products we insure, including the rate of introduction and success of new products”

“Connected Living (1) $ 5,378.7 $ 4,807.9 $ 4,376.8 Global Automotive 4,203.8 4,159.4 4,184.6 Total $ 9,582.5 $ 8,967.3 $ 8,561.4”

“Global Housing net earned premiums, fees and other income increased $311.8 million, or 13%, to $2.77 billion for Twelve Months 2025 from $2.46 billion for Twelve Months 2024”

“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”

“approximately 61% of our employees were frontline workers, predominantly in hourly roles such as customer care, claims administration, mobile repair and logistics; and approximately 38% were in managerial roles”

“which examined total compensation for U.S., UK, Canada, Argentina and India-based employees, or roughly 91% of our workforce, confirmed that there is no evidence of systemic disparities”

“We compete for business, clients, customers, agents and other distribution relationships with many insurance companies, warranty and protection companies, financial services companies, mobile device repair and logistics companies, technology and software companies”

“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, as well as to changes in consumer preferences and client forecasts and demands.”

“Our Homeowners revenue is impacted by changes in the housing market, as well as the voluntary insurance market.”

“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.”

“Effective September 2025, Michael Campbell, previously the President of our Global Housing segment, was appointed Chief Operating Officer”

“we believe our hybrid work model will remain a key competitive advantage to support the evolving needs of our customers and employees”

“Our results may also be impacted by our ability to capitalize on opportunities for further growth, including within adjacent markets such as home warranty.”

“fluctuations in exchange rates, interest rates and inflation, and tariffs and global supply chain disruptions may have a material adverse effect on our results of operations or financial condition.”

“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.”

“Currently, Assurant, Inc.’s senior debt is rated BBB by S&P and Baa2 by Moody’s, and both ratings carry a stable outlook.”

“Each of our Global Lifestyle and Global Housing segments receives a substantial portion of its revenues from a few clients.”

“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 maintain reserves to cover our estimated ultimate exposure for claims and claim adjustment expenses with respect to reported claims and incurred but not reported (“IBNR”) claims as of the end of each accounting period.”

“As of December 31, 2025, our operations had a significant number of contracts that contain provisions that require the applicable subsidiaries to maintain minimum financial strength ratings, typically from A.M. Best, ranging from “A” or better to “B+” or better, depending on the contract.”

“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.”

“Actual results may differ materially from the analytical models we use to assist in our decision-making in key areas such as pricing, catastrophe risks, reserving and capital management.”

“Catastrophe and non-catastrophe losses, including as a result of climate change and the current inflationary environment, could materially reduce our profitability”

“if the severity of an event were sufficiently high, our losses could exceed our reinsurance coverage limits and could have a material adverse effect on our results of operations and financial condition”

“Our mobile business is subject to the risk of declines in the value and availability of mobile devices, and to regulatory compliance and other risks.”

“Through reinsurance, we have sold or exited businesses that could again become our direct financial and administrative responsibility if the reinsurers become insolvent.”

“They may disintermediate us by developing internal capabilities, products or services that would allow them to service their clients without our involvement, which has occurred from time to time”

“A.M. Best rates most of our domestic and certain international operating insurance subsidiaries. Moody’s and S&P rate three of our domestic operating insurance subsidiaries.”

“Our competitive position may be impacted if we are unable to develop, use or integrate, in an effective, compliant and competitive manner, technology such as AI and machine learning”

“We continue to upgrade and implement new information technology systems and infrastructure involving several enterprise-wide technology initiatives, including AI, to support our strategy”

“there is continued uncertainty concerning potential and recent actions by the current U.S. administration, including increased or new tariffs that may impact the cost of claims and disrupt supply chains”

“Climate change may make it more difficult to predict and model catastrophes, reducing our ability to accurately price our exposure to such events and mitigate risks, particularly in our Global Housing business.”

“Negative publicity may cause increased regulation and legislative scrutiny of industry practices as well as increased litigation or enforcement action by civil and criminal authorities.”