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1. Company Snapshot

1.a. Company Description

Assurant, Inc., together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect consumer purchases in North America, Latin America, Europe, and the Asia Pacific.The company operates through two segments: Global Lifestyle and Global Housing.The Global Lifestyle segment offers mobile device solutions, and extended service products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.


The Global Housing segment provides lender-placed homeowners insurance, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, voluntary homeowners insurance, and other specialty products.The company was formerly known as Fortis, Inc.and changed its name to Assurant, Inc.


in February 2004.Assurant, Inc.was founded in 1892 and is headquartered in New York, New York.

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1.b. Last Insights on AIZ

Assurant, Inc.'s recent performance faced negative drivers, including a reduction in stock holdings by institutional investors such as Cookson Peirce & Co. Inc., which lowered its position by 77.3%. Additionally, Massachusetts Financial Services Co. MA decreased its holdings by 19.2%. Despite beating Q4 earnings estimates with $5.61 per share, the company's performance was impacted by a cautious outlook. Analysts have a "Moderate Buy" consensus rating on the stock, with eight giving a buy rating and two a hold rating (Source: Marketbeat).

1.c. Company Highlights

2. Assurant's 2025 Earnings: A Year of Profitable Growth

Assurant reported a strong financial performance in 2025, with adjusted EBITDA growing 16-19% and adjusted earnings per share (EPS) increasing by 19%. The company's revenue growth was driven by its Global Lifestyle and Global Housing businesses, with adjusted EBITDA in Global Lifestyle growing mid-single digits and Global Housing growing double digits, excluding catastrophes. The company's actual EPS came out at $5.61, beating estimates of $5.55. The company's profit margin expansion was driven by disciplined investment in innovation and a strong performance in its lender-placed business, which continues to serve a critical role in the US mortgage market.

Publication Date: Feb -14

📋 Highlights
  • 2025 Financial Performance: Achieved double-digit adjusted EBITDA (11%) and adjusted EPS (12%) growth, with 16-19% growth including catastrophes, marking ninth consecutive year of profitable growth.
  • Global Housing Success: Adjusted EBITDA grew double digits (excluding catastrophes), with earnings surpassing $1 billion (over double since 2022) and 5% YoY in-force policy growth.
  • Home Warranty Expansion: Invested $15–$20 million in 2026 to scale across six brands, aiming to become market leader in a fragmented industry ($113M prior year reserve development noted).
  • Connected Living Growth: Mid-single-digit EBITDA growth driven by 57 million vehicles protected, multi-year contracts, and new client programs, with revenue outpacing EBITDA growth.

Segment Performance

The Global Lifestyle segment drove growth, with adjusted EBITDA increasing mid-single digits, driven by increased momentum in Connected Living and Global Automotive. The company expanded its presence in Global Automotive, now protecting 57 million vehicles. In Global Housing, adjusted EBITDA grew double digits, excluding catastrophes, with earnings surpassing $1 billion, more than doubling since 2022. As Keith Demmings mentioned, the company is "positioning the business for additional growth by investing in innovation to expand programs and product capabilities for clients and end consumers."

Outlook and Guidance

For 2026, Assurant expects increasing momentum in Global Lifestyle, with high single-digit earnings growth anticipated. The company expects to deliver strong underlying results as it executes its long-term strategy. The guidance excludes cat losses and favorable reserve development, and the company expects mid to high single-digit growth in both adjusted EBITDA and earnings per share excluding CATS. Analysts estimate next year's revenue growth at 5.3%, which is slightly lower than the company's historical growth rate.

Valuation

Assurant's current valuation metrics indicate a reasonable price for its earnings. The company's Price-to-Earnings (P/E) Ratio is 13.02, and its Price-to-Book (P/B) Ratio is 1.88. The company's Return on Equity (ROE) is 15.18%, indicating a strong return on shareholders' equity. The company's Net Debt to EBITDA ratio is -8.47, indicating a healthy debt position. Overall, the valuation metrics suggest that Assurant's stock is reasonably priced, considering its growth prospects and profitability.

3. NewsRoom

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AIZ Stock Trading at a Discount to Industry at 1.9X: Time to Hold?

Mar -09

Source: zacks.com

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Assurant, Inc. (NYSE:AIZ) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Mar -03

Source: defenseworld.net

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Assurant Earns Feefo's Platinum Trusted Service Award for 2026 in New Zealand

Feb -18

Source: businesswire.com

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Cookson Peirce & Co. Inc. Lowers Stock Holdings in Assurant, Inc. $AIZ

Feb -15

Source: defenseworld.net

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Assurant Inc (AIZ) Q4 2025 Earnings Call Highlights: Strong Growth Amidst Strategic Investments

Feb -14

Source: gurufocus.com

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Assurant, Inc. (AIZ) Q4 2025 Earnings Call Transcript

Feb -11

Source: seekingalpha.com

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Assurant Q4 Earnings & Revenues Beat Estimates on Higher Premiums

Feb -11

Source: zacks.com

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Compared to Estimates, Assurant (AIZ) Q4 Earnings: A Look at Key Metrics

Feb -11

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.00%)

6. Segments

Global Lifestyle

Expected Growth: 3.0%

Assurant's Global Lifestyle segment growth is driven by increasing demand for mobile device protection, expansion into new markets, and strategic partnerships. Additionally, the rise of the sharing economy and growing consumer preference for subscription-based services contribute to the 3.0% growth rate.

Global Housing

Expected Growth: 3.0%

Assurant's Global Housing segment growth of 3.0% is driven by increasing demand for multifamily housing, expansion in high-growth markets, and strategic partnerships. Additionally, the segment benefits from a strong brand reputation, diversified product offerings, and a focus on digital innovation, enabling the company to capitalize on emerging trends in the housing market.

Corporate and Other Activities

Expected Growth: 3.0%

Assurant's Corporate and Other Activities segment growth of 3.0% is driven by disciplined capital allocation, strategic investments in digital capabilities, and expense management initiatives. Additionally, the company's focus on innovation and operational efficiencies has led to improved profitability, contributing to the segment's growth.

7. Detailed Products

Extended Service Contracts

Assurant's extended service contracts provide protection against mechanical failures and electrical failures for consumer electronics, appliances, and other products.

Warranty Solutions

Assurant's warranty solutions provide protection against defects and malfunctions for consumer products, including electronics, appliances, and vehicles.

Mobile Device Protection

Assurant's mobile device protection provides insurance coverage for mobile devices against loss, theft, and damage.

Credit Insurance

Assurant's credit insurance provides protection for lenders and borrowers by covering loan payments in the event of death, disability, or unemployment.

Employee Benefits

Assurant's employee benefits provide insurance coverage for employees, including life insurance, disability insurance, and supplemental health insurance.

Renters Insurance

Assurant's renters insurance provides protection for renters against loss or damage to personal property, as well as liability coverage.

Home Warranty

Assurant's home warranty provides protection against home system and appliance failures, including plumbing, electrical, and HVAC systems.

8. Assurant, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Assurant, Inc. operates in a highly competitive industry, and there are many substitutes available to customers. However, the company's strong brand recognition and diversified product offerings help to mitigate the threat of substitutes.

Bargaining Power Of Customers

Assurant, Inc. has a large customer base, and customers have significant bargaining power due to the availability of substitutes. The company needs to focus on customer retention and loyalty programs to maintain its market share.

Bargaining Power Of Suppliers

Assurant, Inc. has a diversified supplier base, and suppliers have limited bargaining power. The company's strong financial position and long-term contracts with suppliers also reduce the bargaining power of suppliers.

Threat Of New Entrants

The insurance industry has high barriers to entry, including regulatory requirements and capital requirements. However, new entrants can still disrupt the market with innovative products and business models. Assurant, Inc. needs to focus on innovation and digital transformation to stay competitive.

Intensity Of Rivalry

The insurance industry is highly competitive, and Assurant, Inc. operates in a crowded market. The company needs to focus on differentiating its products and services, and investing in digital transformation to stay ahead of competitors.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 30.19%
Debt Cost 6.52%
Equity Weight 69.81%
Equity Cost 6.58%
WACC 6.56%
Leverage 43.26%

11. Quality Control: Assurant, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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A-Score: 6.1/10

Value: 6.1

Growth: 6.1

Quality: 6.3

Yield: 4.0

Momentum: 6.0

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

219.7$

Current Price

219.7$

Potential

-0.00%

Expected Cash-Flows