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• Adjusted EBITDA Growth: 14% growth in adjusted EBITDA, excluding reportable catastrophes.

• Adjusted Earnings Per Share Growth: 16% growth in adjusted earnings per share, excluding reportable catastrophes.

• Global Housing Top-Line Growth: 17% growth within homeowners, driven by the addition of 70,000 lender placed policies.

• Combined Ratio: Delivered a combined ratio of 90% in Q1, with a full-year target around the mid-80s.

• Global Lifestyle Revenue Growth: 5% growth in net earned premiums, fees, and other income, or 7% on a constant currency basis.

• Global Housing Adjusted EBITDA: $269 million excluding catastrophes, with a 31% increase.

• Holding Company Liquidity: Over $500 million at quarter end.

• Shareholder Returns: Over $100 million returned to shareholders, including $62 million in share repurchases.

• Catastrophe Reinsurance Program: $1.8 billion in loss coverage with a $160 million retention level.

• Expected Catastrophe Load: $300 million for full year 2025, including California wildfires.

• Share Repurchase Outlook: Expected range of $200 million to $300 million for 2025.

• Warning! GuruFocus has detected 7 Warning Signs with DNNGY.

Release Date: May 07, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Assurant Inc (NYSE:AIZ) reported a strong start to 2025 with 14% growth in adjusted EBITDA and 16% growth in adjusted earnings per share, excluding reportable catastrophes.

• The company has a diversified global operating model with market-leading businesses in global housing and global lifestyle, supported by a robust capital position.

• Assurant Inc (NYSE:AIZ) has a proven track record of delivering earnings growth over nine consecutive years, demonstrating resilience through various economic cycles.

• The company is expanding its partnerships, including a new mobile device protection plan with Verizon's Total Wireless, enhancing its market position in the telecom industry.

• Assurant Inc (NYSE:AIZ) achieved significant top-line growth in its homeowners segment, driven by the addition of 70,000 lender-placed policies, resulting in a compelling combined ratio of 90%.

Negative Points

• The Global Lifestyle segment saw a 5% decline in adjusted EBITDA compared to the previous year, impacted by unfavorable foreign exchange and a one-time client contract benefit from the prior year.

• The company is facing potential impacts from tariffs, particularly in the Auto and Housing segments, which could lead to higher claims costs.

• Assurant Inc (NYSE:AIZ) experienced elevated catastrophe losses in the first quarter, including significant impacts from California wildfires.

• The expense ratio in the Global Housing segment increased due to higher reinsurance costs and expenses related to managing catastrophe claims.

• The company anticipates that foreign exchange and incremental investments will mute growth in the Lifestyle segment by a few percentage points in 2025.