Assurant, Inc. (NYSE: AIZ) shares closed at $ estimated close here **, down/flat/up X.X% on Wednesday, after the specialty insurer reported quarterly and full-year results. The stock price reflected trading on the New York Stock Exchange, where Assurant’s shares have fluctuated around recent levels near the 52-week high. [Market data as of today’s close]
Assurant’s market capitalization stood at about $12.2 billion based on its share count and closing price.
Fourth Quarter 2025 Results
Consolidated revenue (net earned premiums, fees and other income) reached $3.23 billion, up 8% from Q4 2024. GAAP net income was $225.2 million versus $201.3 million in the prior year period. GAAP net income per diluted share was $4.41 versus $3.87 a year earlier. Adjusted EBITDA rose to $436.5 million from $381.4 million in Q4 2024. Adjusted earnings per diluted share climbed to $5.61 from $4.79 in the year-ago quarter.
Segment performance for the fourth quarter included:
Global Housing: Adjusted EBITDA was $275.6 million, an increase of 22% year-over-year. The results were primarily driven by growth in lender-placed policies and a $40.6 million reduction in pre-tax reportable catastrophes compared to the previous year.
Global Lifestyle: Adjusted EBITDA for the segment reached $191.7 million. Growth was led by the Global Automotive and Connected Living business lines, which offset higher operating expenses.
Full-Year 2025 Results
For the year ended Dec. 31, 2025: GAAP net income increased 15% to $872.7 million from $760.2 million in 2024. Net earned premiums, fees and other income totaled $12.35 billion, up 8% from $11.42 billion in 2024. Adjusted EBITDA rose 16% to $1,536.2 million from $1,322.4 million the prior year. Adjusted earnings per diluted share (excluding reportable catastrophes) increased 12% to $22.81 from $20.35.
Business and Operations Update
Assurant operates through two principal segments: Global Lifestyle, which provides mobile device protection, extended service contracts and vehicle protection services; and Global Housing, including lender-placed homeowners, manufactured housing, flood coverage, and renters products. In the quarter, reported catastrophe losses declined significantly, reducing the impact on overall results.
In 2025, the company executed share repurchases and dividend payments as part of capital deployment. During the fourth quarter, Assurant repurchased approximately 416,000 shares for $94 million and paid $44 million in dividends. Full-year repurchases totaled $300 million and dividends $168 million.
M&A and Strategic Moves
Assurant earlier closed a $300 million 5.550% senior notes offering due 2036 and used proceeds to redeem $175 million of 2026 notes.
Equity Analyst Commentary
Institutional research noted Assurant’s results exceeded consensus estimates for revenue and earnings per share in Q4 2025, with global housing and lifestyle segments cited as contributors to performance.
Guidance and Outlook
The company outlined expectations for 2026 Adjusted EBITDA and adjusted earnings per share on a basis excluding reportable catastrophes to be stable or grow in the mid-to-high single digits from 2025 levels.
Performance Summary
Assurant shares moved intraday after its Q4 earnings release. The company reported revenue growth, net income expansion and segment contributions from Global Housing and Global Lifestyle. Results showed year-over-year increases in revenue, profitability and adjusted earnings per share.