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1. Company Snapshot

1.a. Company Description

Assurant, Inc., together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect consumer purchases in North America, Latin America, Europe, and the Asia Pacific.The company operates through two segments: Global Lifestyle and Global Housing.The Global Lifestyle segment offers mobile device solutions, and extended service products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.


The Global Housing segment provides lender-placed homeowners insurance, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, voluntary homeowners insurance, and other specialty products.The company was formerly known as Fortis, Inc.and changed its name to Assurant, Inc.


in February 2004.Assurant, Inc.was founded in 1892 and is headquartered in New York, New York.

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1.b. Last Insights on AIZ

Assurant's recent performance was driven by strong Q2 earnings, beating estimates with $5.56 per share, up 36.3% year-over-year. Growth in capital-light businesses, Connected Living, and Global Housing, supported by solid cash flow, contributed to the outperformance. The company's strategic capital deployment, including a recent $300 million senior notes offering, and partnerships, such as with Holman to boost its Global Automotive division, have also been positive drivers. Additionally, earnings estimates have been revised upward, indicating potential for further growth.

1.c. Company Highlights

2. Assurant's Q3 2025 Earnings: A Strong Performance Across Global Housing and Lifestyle

Assurant reported a robust third quarter 2025, with double-digit earnings growth across both Global Housing and Global Lifestyle segments. The company's adjusted EBITDA growth was 13% and adjusted EPS growth was 15% year-to-date, excluding reportable catastrophes. The actual EPS came out at $5.73, beating analyst estimates of $4.23. The strong financial performance drove significant cash generation and supported Assurant's balanced capital allocation. The company's liquidity position was $613 million, providing flexibility to invest in its business and return capital to shareholders.

Publication Date: Nov -13

📋 Highlights
  • Double-Digit Earnings Growth:: Assurant achieved double-digit earnings growth in both Global Housing and Global Lifestyle, with adjusted EBITDA up 13% and adjusted EPS up 15% year-to-date, excluding catastrophes.
  • Global Lifestyle Expansion:: Earnings accelerated 4% year-to-date, driven by Connected Living and Auto, with new partnerships including a U.S. mobile carrier and Best Buy for extended service contracts.
  • Strong Housing Performance:: Global Housing generated $256M in adjusted EBITDA (Q3), with a combined ratio trending below expectations and $3M in reportable catastrophes, supporting full-year EBITDA growth of ~10%.
  • Shareholder Returns:: Returned $122M to shareholders in Q3 ($81M in buybacks, $41M in dividends) and raised its 2025 outlook to $300M in total shareholder returns through share repurchases.
  • Liquidity and ROE Strength:: Maintained $613M in liquidity, a 5-year average ROE of 13%, and average return on tangible equity above 30%, underpinning long-term resilience in the PMC space.

Segment Performance

In Global Lifestyle, earnings accelerated throughout 2025, increasing 4% year-to-date. The company announced two new Connected Living opportunities, including a multiyear agreement with a large US mobile carrier to expand repair and logistics capabilities. Global Housing continued to outperform, with strong lender-placed results in its homeowners business and expansion in renters. The segment's adjusted EBITDA was $256 million, including $3 million of reportable catastrophes.

Outlook and Capital Allocation

Given the strength of its business performance, Assurant increased its 2025 outlook, expecting full-year adjusted earnings per share growth of low double digits and adjusted EBITDA growth approaching 10%, excluding catastrophes. The company returned $122 million to shareholders in the quarter, including $81 million in share repurchases and $41 million in dividends. Assurant expects to return $300 million to shareholders through share repurchases and anticipates full-year cash conversion to approximate 2024 levels.

Valuation and Growth Prospects

With a P/E Ratio of 13.56 and an ROE of 15.72%, Assurant's valuation appears reasonable. The company's growth prospects are promising, with analysts estimating revenue growth of 5.3% next year. The expected growth in all three businesses - Connected Living, Auto, and Housing - in 2026, driven by past investments and new partnerships, is likely to contribute to the company's long-term strength and resilience.

Management Insights

Keith Demmings discussed momentum in housing, citing strong fundamental performance and investments in technology and operational capabilities. The company feels good about its positioning in the iPhone upgrade cycle, with clients gaining 81% of postpaid net adds. A new program to be discussed in February is expected to create a new pathway for long-term growth, driven by the Chief Innovation Officer.

3. NewsRoom

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Assurant, Inc. $AIZ Stake Boosted by Charles Schwab Investment Management Inc.

Nov -29

Source: defenseworld.net

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Boston Partners Has $6.28 Million Holdings in Assurant, Inc. $AIZ

Nov -29

Source: defenseworld.net

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5 Stocks With High ROE to Profit as Markets Perform Erratically

Nov -21

Source: zacks.com

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Assurant (NYSE:AIZ) Hits New 52-Week High Following Dividend Announcement

Nov -15

Source: defenseworld.net

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AIZ Raises Quarterly Dividend by 10%, Ups Share Buyback Capacity

Nov -14

Source: zacks.com

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Aviva PLC Sells 31,349 Shares of Assurant, Inc. $AIZ

Nov -14

Source: defenseworld.net

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Assurant Inc (AIZ) Q3 2025 Earnings Call Highlights: Strong Growth and Strategic Partnerships Propel Future Outlook

Nov -05

Source: gurufocus.com

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Assurant, Inc. (AIZ) Q3 2025 Earnings Call Transcript

Nov -05

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.00%)

6. Segments

Global Lifestyle

Expected Growth: 3.0%

Assurant's Global Lifestyle segment growth is driven by increasing demand for mobile device protection, expansion into new markets, and strategic partnerships. Additionally, the rise of the sharing economy and growing consumer preference for subscription-based services contribute to the 3.0% growth rate.

Global Housing

Expected Growth: 3.0%

Assurant's Global Housing segment growth of 3.0% is driven by increasing demand for multifamily housing, expansion in high-growth markets, and strategic partnerships. Additionally, the segment benefits from a strong brand reputation, diversified product offerings, and a focus on digital innovation, enabling the company to capitalize on emerging trends in the housing market.

Corporate and Other Activities

Expected Growth: 3.0%

Assurant's Corporate and Other Activities segment growth of 3.0% is driven by disciplined capital allocation, strategic investments in digital capabilities, and expense management initiatives. Additionally, the company's focus on innovation and operational efficiencies has led to improved profitability, contributing to the segment's growth.

7. Detailed Products

Extended Service Contracts

Assurant's extended service contracts provide protection against mechanical failures and electrical failures for consumer electronics, appliances, and other products.

Warranty Solutions

Assurant's warranty solutions provide protection against defects and malfunctions for consumer products, including electronics, appliances, and vehicles.

Mobile Device Protection

Assurant's mobile device protection provides insurance coverage for mobile devices against loss, theft, and damage.

Credit Insurance

Assurant's credit insurance provides protection for lenders and borrowers by covering loan payments in the event of death, disability, or unemployment.

Employee Benefits

Assurant's employee benefits provide insurance coverage for employees, including life insurance, disability insurance, and supplemental health insurance.

Renters Insurance

Assurant's renters insurance provides protection for renters against loss or damage to personal property, as well as liability coverage.

Home Warranty

Assurant's home warranty provides protection against home system and appliance failures, including plumbing, electrical, and HVAC systems.

8. Assurant, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Assurant, Inc. operates in a highly competitive industry, and there are many substitutes available to customers. However, the company's strong brand recognition and diversified product offerings help to mitigate the threat of substitutes.

Bargaining Power Of Customers

Assurant, Inc. has a large customer base, and customers have significant bargaining power due to the availability of substitutes. The company needs to focus on customer retention and loyalty programs to maintain its market share.

Bargaining Power Of Suppliers

Assurant, Inc. has a diversified supplier base, and suppliers have limited bargaining power. The company's strong financial position and long-term contracts with suppliers also reduce the bargaining power of suppliers.

Threat Of New Entrants

The insurance industry has high barriers to entry, including regulatory requirements and capital requirements. However, new entrants can still disrupt the market with innovative products and business models. Assurant, Inc. needs to focus on innovation and digital transformation to stay competitive.

Intensity Of Rivalry

The insurance industry is highly competitive, and Assurant, Inc. operates in a crowded market. The company needs to focus on differentiating its products and services, and investing in digital transformation to stay ahead of competitors.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 30.19%
Debt Cost 6.52%
Equity Weight 69.81%
Equity Cost 6.58%
WACC 6.56%
Leverage 43.26%

11. Quality Control: Assurant, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

222.87$

Current Price

222.87$

Potential

-0.00%

Expected Cash-Flows