Assurant reported record second-quarter results with GAAP net income of $298.6 million, a 27% increase year-over-year, and Adjusted EBITDA of $479.2 million, up 24% from Q2 2025. Adjusted earnings per diluted share were $6.41 for the quarter and adjusted earnings, excluding reportable catastrophes, per diluted share were $6.60. The company raised its 2026 outlook, now targeting mid-single-digit growth in Adjusted EBITDA and Adjusted EPS excluding reportable catastrophes, with Global Lifestyle expected to grow low double digits.

Financial Highlights

  • GAAP net income: $298.6 million in Q2 2026, up 27% from $235.3 million in Q2 2025; year-to-date net income $572.7 million (up 50% vs. 6M 2025 $381.9M).
  • Adjusted EBITDA: $479.2 million in Q2 2026, up 24% from $386.0 million in Q2 2025; 6M Adjusted EBITDA $920.7 million (up 38% vs. 668.2M).
  • Adjusted EBITDA, excluding reportable catastrophes: $491.4 million in Q2 2026, up 18% from $415.8 million in Q2 2025; 6M ex-cat EBITDA $957.3 million (up 12% vs. 855.0M).
  • GAAP net income per diluted share: $5.95 in Q2 2026 vs. $4.56 in Q2 2025 (30% increase); Adjusted earnings per diluted share: $6.41 in Q2 2026 (Adjusted ex-cat EPS $6.60).
  • Holding company liquidity: $911 million at June 30, 2026; second-quarter dividends from operating segments to holding company totaled $235 million. Share repurchases and dividends totaled $123 million in Q2 2026.

Business Highlights

  • Global Lifestyle delivered record earnings with Adjusted EBITDA of $244.4 million in Q2 2026 (up 21% YoY), driven by Connected Living and Global Automotive performance and global mobile growth.
  • Connected Living benefited from global supply chain volumes, device protection programs and favorable non-run rate benefits; Connected Living earnings rose 29% in the quarter (including $10M of favorable non-run rate benefits).
  • Global Housing Adjusted EBITDA increased 28% to $274.8 million in Q2 2026, supported by favorable non-catastrophe loss experience and lower catastrophe reinsurance costs; excluding reportable catastrophes, Global Housing ex-cat EBITDA was $287.0 million (up 18% YoY).
  • Operational trends included lower-than-typical claims frequency driving improved Homeowners results, growth in specialty products and lender-placed business, and increased contributions from extended service contracts and financial services programs.
  • Corporate and Other segment investments increased, with a larger Adjusted EBITDA loss reflecting higher employee-related expenses and strategic investments to support the Home Warranty business.

Original SEC Filing:

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