Companies

Assurant Raises 2026 Outlook After Record Second Quarter

The Tip Desk · August 4, 2026 · 3 min read

GAAP net income reached $298.6 million, up 27%, as Global Housing Adjusted EBITDA rose 28% to $274.8 million.

Assurant, Inc. (AIZ), a global protection company that safeguards connected devices, homes, automobiles and commercial equipment, reported GAAP net income of $298.6 million for the second quarter ended June 30, 2026, up 27% from a year earlier, and raised its full-year 2026 outlook.

The company said the increase was driven by higher Global Lifestyle and Global Housing earnings and lower reportable catastrophes, partly offset by a higher effective tax rate and higher Corporate and Other expenses. GAAP net income per diluted share was $5.95.

Adjusted EBITDA was $479.2 million. Excluding reportable catastrophes, Adjusted EBITDA was $491.4 million, up 18%, or similarly on a constant-currency basis. Adjusted earnings excluding reportable catastrophes were $6.60 a share.

Global Lifestyle Adjusted EBITDA was $244.4 million. Earnings grew across Connected Living and Global Automotive. Connected Living increased 29%, including $10 million of favorable non-run-rate benefits; excluding those benefits, earnings grew 22%, primarily driven by global mobile growth, including global supply chain and device protection programs, and higher contributions from financial services. Global Automotive results increased from growth within global partnerships.

Global Housing Adjusted EBITDA was $274.8 million, including $17.6 million of lower pre-tax reportable catastrophes. Excluding catastrophes, Global Housing Adjusted EBITDA was $287.0 million, up 18%, mainly driven by favorable non-catastrophe loss experience, primarily from lower than typical claims frequency. In Homeowners, results also benefited from lower catastrophe reinsurance costs and growth in specialty products and lender-placed. Global Housing growth was partially offset by $12 million of lower favorable prior-period reserve development.

Corporate and Other Adjusted EBITDA loss widened to $40.0 million, mainly from higher employee-related expenses and organic investments to support the Home Warranty business.

Net earned premiums, fees and other income from Global Lifestyle and Global Housing totaled $3.32 billion, up 9%. Global Lifestyle revenue was $2,572.9 million and Global Housing revenue was $747.8 million.

President and CEO Keith Demmings said the company delivered another quarter of record earnings and that performance extended the momentum carried into the year, including record earnings within Global Lifestyle. After a first quarter in which the company raised its 2026 outlook to low single-digit growth, or high single digits on an underlying basis, Assurant now expects Adjusted EBITDA and Adjusted earnings per share growth of mid single digits, or approximately 10% on an underlying basis, both excluding reportable catastrophes.

Global Lifestyle Adjusted EBITDA is now expected to increase low double digits, with contributions from Connected Living and Global Automotive. Global Housing Adjusted EBITDA excluding reportable catastrophes is now expected to grow modestly. Corporate and Other Adjusted EBITDA loss is now expected to approximate $145 million, from higher employee-related expenses.

The company continues to expect depreciation expense of approximately $180 million, an effective tax rate of approximately 19 to 21 percent, interest expense of approximately $113 million and amortization of purchased intangible assets of approximately $70 million.

Holding company liquidity totaled $911 million as of June 30, 2026, or $686 million above the company’s minimum level of $225 million. Dividends paid by the operating segments to the holding company in the second quarter totaled $235 million.

Share repurchases and common stock dividends totaled $123 million in the second quarter. Assurant repurchased approximately 310 thousand shares for $75 million and paid $48 million in common stock dividends. From July 1 through July 31, 2026, the company repurchased approximately 108 thousand shares for $30 million. $544 million remains under the current repurchase authorization.

Demmings said the company now expects share repurchases toward the upper end of its $300 million to $350 million range, while preserving flexibility to invest in attractive growth opportunities. Capital deployment priorities focus on maintaining a strong, flexible financial position, supporting business growth through organic investments and M&A, and returning capital through common stock dividends and share repurchases, subject to Board approval.

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