Assurant Increases Full Year Outlook on Record First Quarter Results (Form 8-K)

Assurant Increases Full Year Outlook on Record First Quarter Results

Strong Start to 2026 Led by Record Earnings in Global Lifestyle

2026 to Deliver Strong Underlying Growth Driven

by Global Lifestyle Adjusted EBITDA Growth of Approximately 10%

(Unaudited)			Q1'26						Q1'25						Change
$ in millions, except per share data
GAAP net income			274.1						146.6						87%
Adjusted EBITDA1			441.5						282.2						56%
Adjusted EBITDA, ex. reportable catastrophes2			465.9						439.2						6%
GAAP net income per diluted share			5.41						2.83						91%
Adjusted earnings per diluted share3			5.95						3.39						76%
Adjusted earnings, ex. reportable catastrophes, per diluted share4			6.33						5.79						9%

Note: The metrics included within the company's outlook and certain other metrics are non-GAAP financial measures. The company believes that it cannot, without unreasonable efforts, forecast certain information needed to reconcile outlook to the GAAP measures, the probable significance of which cannot be determined. More information can be found in the Non-GAAP Financial Measures section.

ATLANTA, May 5, 2026 - Assurant, Inc. (NYSE: AIZ), a global company that redefines the boundaries of protection - safeguarding and servicing connected devices, homes, automobiles, and commercial equipment in partnership with the world's most successful brands, today announced results for the first quarter ended March 31, 2026.

"Our first quarter performance represented Assurant's best quarter in history driven by record earnings in Global Lifestyle. Our position as a market leader continues to generate attractive cash flows and reinforces our solid, flexible capital position - enabling us to accelerate share repurchases in the first quarter. We continue to scale capabilities, deepen client partnerships, and execute against a robust pipeline of new client opportunities, supported by the durability of our earnings. We are proud of the long-term outperformance we've driven and more excited than ever about the future, including expansion into attractive new markets where we see a clear path to market leadership," said Assurant President and CEO Keith Demmings.

"Driven by our strong start to the year, we are increasing our 2026 enterprise outlook. We now expect Adjusted EBITDA and Adjusted earnings per share, both excluding reportable catastrophes, to grow low single digits, or high single digits on an underlying basis. We also now expect to return $300 to $350 million in share repurchases, at the upper end of our 2026 guidance," Demmings added.

First Quarter Consolidated Results

(Unaudited)			Q1'26						Q1'25						Change
$ in millions
GAAP net income			274.1						146.6						87%
Adjusted EBITDA
Global Lifestyle			236.7						197.8						20%
Global Housing			236.7						112.4						111%
Corporate and Other			(31.9)						(28.0)						(14)%
Adjusted EBITDA1			441.5						282.2						56%
Reportable catastrophes			24.4						157.0
Adjusted EBITDA, ex. reportable catastrophes
Global Lifestyle2			236.7						198.1						19%
Global Housing2			261.1						269.1						(3)%
Corporate and Other			(31.9)						(28.0)						(14)%
Adjusted EBITDA, ex. reportable catastrophes2			465.9						439.2						6%

Note: Adjusted EBITDA of the Global Lifestyle, Global Housing, and Corporate and Other segments is the segment measure of profitability in our GAAP financial statements and includes reportable catastrophes. Some of the metrics throughout this press release are non-GAAP measures of performance. A full reconciliation of each non-GAAP measure to the most comparable GAAP measure can be found in the Non-GAAP Financial Measures section.

First Quarter 2026 Consolidated Results

•GAAP net income increased 87 percent to $274.1 million compared to first quarter 2025 of $146.6 million, driven by lower reportable catastrophes and higher Global Lifestyle earnings.

•GAAP net income per diluted share increased 91 percent to $5.41 compared to first quarter 2025 of $2.83. The increase was primarily driven by the factors noted above.

•Adjusted EBITDA1 increased 56 percent to $441.5 million compared to the prior year period of $282.2 million, primarily due to lower reportable catastrophes. Excluding reportable catastrophes, Adjusted EBITDA2 increased 6 percent, or 5 percent on a constant currency basis5, to $465.9 million, due to growth within Global Lifestyle.

•Adjusted earnings, excluding reportable catastrophes, per diluted share4, increased 9 percent to $6.33 compared to the prior year period of $5.79. The increase was driven by the factors noted above and the impact of a lower effective tax rate and share repurchases, partially offset by higher depreciation expense.

•Net earned premiums, fees and other income from the Global Lifestyle and Global Housing segments totaled $3.28 billion compared to first quarter 2025 of $2.96 billion, up 11 percent, driven by growth in both Global Lifestyle and Global Housing.

-2-

Global Lifestyle

$ in millions			Q1'26						Q1'25						Change
Adjusted EBITDA			236.7						197.8						20%
Net earned premiums, fees and other income			2,551.0						2,306.6						11%

•Adjusted EBITDA increased 20 percent compared to first quarter 2025, driven by double-digit earnings growth across both Connected Living and Global Automotive. Results included $13 million from a real estate joint venture gain, of which $10 million was in Global Automotive. Connected Living results benefitted from subscriber growth in mobile protection programs and trade-in performance. Global Automotive results increased from higher investment income, including the gain noted above, and improved loss experience.

•Net earned premiums, fees and other income increased 11 percent compared to first quarter 2025, driven primarily by Connected Living growth from higher trade-in volumes and global mobile protection programs, as well as higher contributions from extended service contract programs, including a recently launched U.S. program.

Global Housing

$ in millions			Q1'26						Q1'25						Change
Adjusted EBITDA			236.7						112.4						111%
Reportable catastrophes			24.4						156.7
Adjusted EBITDA, ex. reportable catastrophes2			261.1						269.1						(3)%
Net earned premiums, fees and other income			729.1						656.8						11%

•Adjusted EBITDA increased 111 percent compared to first quarter 2025, mainly from $132.3 million of lower pre-tax reportable catastrophes. Excluding reportable catastrophes, Adjusted EBITDA2 decreased 3 percent, including $8 million of lower favorable prior year reserve development (PYD)(a). Underlying results, excluding PYD, were consistent with the prior period. The quarter reflected more normalized non-catastrophe loss experience compared to a lower than typical first quarter 2025. This was offset by growth within Homeowners from higher lender-placed policies in-force and increased contributions from specialty products. Higher investment income also supported results.

(a) First quarter 2026 had $18.8 million of favorable non-catastrophe PYD, compared to $26.4 million of favorable non-catastrophe PYD in first quarter 2025.

•Net earned premiums, fees and other income increased 11 percent compared to first quarter 2025, driven by higher policies in-force and average premiums within lender-placed, and increases across various specialty products and Renters and Other.

Corporate and Other

$ in millions

Q1'26

Q1'25

Change

Adjusted EBITDA

(31.9)

(28.0)

(14)%

•Adjusted EBITDA loss increased in first quarter 2026 compared to the prior year period, driven by organic investments to support our Home Warranty business, partially offset by higher investment income from higher assets.

-3-

Holding Company Liquidity Position

•Holding company liquidity totaled $836 million as of March 31, 2026, or $611 million above the company's minimum level of $225 million.

Dividends paid by the operating segments to the holding company in first quarter 2026 totaled $138 million.

•Share repurchases and common stock dividends totaled $169 million in first quarter 2026. During first quarter 2026, Assurant repurchased approximately 556 thousand shares of common stock for $125 million and paid $44 million in common stock dividends.

From April 1 through May 1, 2026, the company repurchased approximately 133 thousand shares for $30 million. $620 million remains under the current repurchase authorization.

2026 Company Outlook6

Note: Some of the metrics included within the company's outlook are non-GAAP financial measures and the company believes that it cannot, without unreasonable efforts, forecast certain information needed to reconcile to the GAAP measures, the probable significance of which cannot be determined. More information can be found in the Non-GAAP Financial Measures section.

Based on current macroeconomic conditions, the company now expects the following:

$ in millions, except per share data			2025			2026 Outlook6			2026 Outlook ex. PYD(b)
Adjusted EBITDA, ex. reportable catastrophes2			$1,734			Low single digits			High single digits
Adjusted earnings, ex. reportable catastrophes, per diluted share4			$22.81			Low single digits			High single digits

(b)Excludes the impact of $94 million of lower favorable prior year reserve development (PYD) in Global Housing. This reflects $113 million of favorable PYD in 2025 and $19 million of favorable PYD in first quarter 2026.

•Adjusted EBITDA, excluding reportable catastrophes6, now expected to increase low single digits.

◦Global Lifestyle Adjusted EBITDA now expected to increase by approximately 10 percent with contributions from Connected Living and Global Automotive.

◦Global Housing Adjusted EBITDA, excluding reportable catastrophes6, now expected to decline only modestly.

◦Corporate and Other Adjusted EBITDA loss to approximate $140 million, reflecting organic investments in our Home Warranty business.

•Adjusted earnings, excluding reportable catastrophes, per diluted share6, now expected to increase low single digits. The company now expects depreciation expense of approximately $180 million and an effective tax rate of approximately 19 to 21 percent, and continues to expect interest expense of approximately $113 million and amortization of purchased intangible assets of approximately $70 million.

•Capital deployment priorities to focus on maintaining a strong, flexible financial position, supporting business growth by funding organic investments and M&A, and returning capital to shareholders through common stock dividends and share repurchases, subject to Board approval.

-4-

Earnings Conference Call

The first quarter 2026 earnings conference call and webcast will be held on Wednesday, May 6, 2026 at 8:00 a.m. E.T. The slide presentation used by management during the webcast includes supplemental information and will be available on Assurant's Investor Relations website prior to the conference call. The live and archived webcast, along with supplemental information, will also be available on Assurant's Investor Relations website:

https://ir.assurant.com/overview/default.aspx

About Assurant

Assurant, Inc. (NYSE: AIZ) redefines the boundaries of protection - safeguarding and servicing connected devices, homes, automobiles, and commercial equipment in partnership with the world's most successful brands. As a Fortune 500 company operating in 21 countries, Assurant leads the way in leveraging insights and technology to transform customer connections that build loyalty and drive value.

Learn more at assurant.com

Media Contact:

Julie Strider

Vice President, Global Communications

[email protected]

Investor Relations Contacts:

Rebekah Biondo

Deputy CFO

[email protected]

Sean Moshier

Vice President, Investor Relations

[email protected]