Assurant Raises 2026 Outlook After Third-Quarter Results

The Tip Desk · November 3, 2026 · 3 min read

The protection company now expects low double-digit adjusted EPS growth excluding catastrophes and $350 million of share repurchases.

Assurant, Inc. (AIZ), a global protection company that safeguards connected devices, homes, automobiles and commercial equipment, raised its 2026 enterprise outlook after a third quarter in which it delivered double-digit earnings growth excluding reportable catastrophes.

The company now expects Adjusted EBITDA growth of approximately 10% and Adjusted earnings per share growth of low double digits, both excluding reportable catastrophes. That is a step up from the mid-single-digit or approximately 10% underlying growth it had projected after the second quarter. President and CEO Keith Demmings said the company is positioning for a record year and a 10th consecutive year of profitable growth.

GAAP net income was $275.2 million, up 4% from a year earlier. Adjusted EBITDA excluding reportable catastrophes was $484.1 million, up 12%. Adjusted earnings excluding reportable catastrophes were $6.46 a share. The company said the increase was driven by growth in Global Lifestyle and Global Housing and the impact of share repurchases, partially offset by a higher Corporate and Other loss.

Global Lifestyle Adjusted EBITDA was $236.9 million, up 15% from the year-earlier quarter. The company said Connected Living earnings rose 23%, reflecting mobile growth across global supply chain and device protection programs and higher contributions from financial services. Global Automotive results were slightly above the prior year period, which included a previously disclosed non-run-rate benefit of $6.1 million; excluding that benefit, Global Automotive increased 9%, driven by improved loss experience and continued growth from global partnerships. Global Lifestyle net earned premiums, fees and other income were $2,661.1 million.

Global Housing Adjusted EBITDA was $268.3 million, up 5%. Results were partially offset by $16.8 million of higher pre-tax reportable catastrophes. Excluding those catastrophes, Global Housing Adjusted EBITDA was $288.0 million, up 11%, mainly from favorable non-catastrophe loss experience, primarily lower claims frequency, and lower catastrophe reinsurance costs. Growth was partially offset by $7.9 million of lower favorable prior-period reserve development. Global Housing net earned premiums, fees and other income were $744.9 million. Combined Global Lifestyle and Global Housing net earned premiums, fees and other income totaled $3.41 billion, up 10%.

Corporate and Other Adjusted EBITDA loss widened 29% to $40.8 million, mainly from higher employee-related expenses and investments to support the Home Warranty business, partially offset by higher investment income from higher assets. Reportable catastrophes were $19.7 million.

For full-year 2026, Global Lifestyle Adjusted EBITDA is now expected to increase mid-to-high teens, with contributions from Connected Living and Global Automotive. Global Housing Adjusted EBITDA excluding reportable catastrophes is now expected to increase mid single digits. Corporate and Other Adjusted EBITDA loss is now expected to approximate $150 million from higher employee-related expenses. The 2026 outlook does not contemplate prior-year reserve development in the fourth quarter.

Holding company liquidity totaled $954 million as of September 30, 2026, or $729 million above the company’s $225 million minimum. Dividends paid by the operating segments to the holding company in the third quarter totaled $226 million. Share repurchases and common stock dividends totaled $119 million in the quarter; Assurant repurchased about 268 thousand shares for $75 million and paid $44 million in dividends. From October 1 through October 31, it repurchased about 108 thousand shares for $30 million. As of October 31, $469 million remained under the current repurchase authorization. The company now expects share repurchases of $350 million for 2026, while preserving flexibility to invest in growth opportunities.