Assurant Reports Second Quarter 2023 Financial Results

Diversity, Equity and Inclusion at Assurant

At Assurant, we celebrate the differences that make us who we are. By assembling extraordinary teams from a variety of races, religions, sexual orientations, gender identities, ages and abilities, we’re able to reflect the global communities where we live and work. Together, we're working to remove barriers, ensuring equity for everyone. The pursuit of inclusion rests with each of us. Because by listening to the unique voices of every individual, we can innovate for all.

Assurant Workforce Diversity

We’re a responsible employer with a culture that believes diversity, equity, and inclusion are critical to support business growth and that recognizes the importance of investing in talent as we look to deliver a superior employee experience.

Charitable Giving

Employees reported over 91K volunteer hours during 2023 to help charitable causes across the globe.

Board of Directors

Assurant's full Board of Directors is 63% diverse — including both gender and race/ethnicity.

Global Gender Diversity

With representation across 21 countries, 60% of Assurant’s global workforce identifies as women.

Supplier Diversity & Inclusion

Assurant awarded nearly $115 million in contracts to diverse suppliers through 2023.

Delivered Significant Earnings and EPS Growth in the Second Quarter Driven by Continued Momentum in Global Housing

Company Increases 2023 Outlook to Deliver High Single-Digit Adjusted EBITDA and Adjusted EPS Growth, Both Ex. Catastrophes

ATLANTA, August 1, 2023 — Assurant, Inc. (NYSE: AIZ), a leading global business services company that supports, protects and connects major consumer purchases, today reported results for the second quarter ended June 30, 2023.

“Overall, we are pleased with our second quarter results which were driven by significant top-line growth and improving loss experience in Global Housing. While Global Lifestyle results were down year-over-year from ongoing elevated claims in Global Automotive and lower contributions in Japan, we have seen continued strength in our U.S. Connected Living business and made significant progress in the first half of this year stabilizing international results which were impacted by headwinds in the second half of 2022,” said Assurant President and CEO Keith Demmings.

“Given our strong year-to-date performance and momentum expected in the second-half of the year, we are increasing our 2023 outlook as we now expect Adjusted EBITDA and Adjusted earnings per share, both excluding catastrophes, to increase high single-digits. In addition, we resumed share repurchases in the second quarter and expect to continue share repurchase activity for the remainder of the year as we generate strong cash flows through our differentiated business model,” Demmings added.

Note: 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.

Read full release below:

Earnings Conference Call

The second quarter 2023 earnings conference call and webcast will be held on Wednesday, August 2, 2023 at 8:00 a.m. ET. The live and archived webcast, along with supplemental information, will be available on Assurant’s Investor Relations website: https://ir.assurant.com/investor/default.aspx

About Assurant

Assurant, Inc. (NYSE: AIZ) is a leading global business services company that supports, protects and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world’s leading brands to develop innovative solutions and to deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products and other products.

Learn more at assurant.com or on Twitter @Assurant .

Media Contacts:

Linda Recupero
Senior Vice President, Global Enterprise Communications
Phone: 201.519.9773
linda.recupero@assurant.com

Stacie Sherer
Vice President, Corporate Communications
Phone: 917.420.0980
stacie.sherer@assurant.com

Investor Relations Contacts:

Suzanne Shepherd
Senior Vice President, Investor Relations and Sustainability
Phone: 201.788.4324
suzanne.shepherd@assurant.com

Sean Moshier
Vice President, Investor Relations
Phone: 914.204.2253
sean.moshier@assurant.com

Assurant Recognitions

As we scale our global efforts for diversity, equity and inclusion, we're honored to be ranked among other organizations paving the path for actual change for gender inclusion, pay equity, LGBTQ+ equality, inclusive cultures and more.

TIME World’s Best Companies List

Assurant has been recognised on the TIME list of World’s Best Companies 2024. The World's Best Companies 2024 ranking is a comprehensive analysis conducted to identify the top performing companies across the globe.

Forbes Best Employers for Diversity 2024

Assurant has been named to the Forbes list of the Best Employers for Diversity 2024 for the fifth consecutive year.

Human Rights Campaign LGBTQ+ Equality

Assurant received a perfect score for the 5th consecutive year on the Human Rights Campaign Foundation’s Corporate Equality Index as a Best Place to Work for LGBTQ+ Equality.

Forbes World’s Top Companies for Women

Assurant has been recognized for the third consecutive year on the Forbes list of World’s Top Companies for Women 2023.

2023 Bloomberg Gender-Equality Index

Bloomberg 2023 Gender-Equality Index of highly recognised public companies committed to supporting gender equality through policy development, representation and transparency

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Assurant Reports Second Quarter 2023 Financial Results

Delivered Significant Earnings and EPS Growth in the Second Quarter Driven by Continued Momentum in Global Housing

Company Increases 2023 Outlook to Deliver High Single-Digit Adjusted EBITDA and Adjusted EPS Growth, Both Ex. Catastrophes

Assurant Recognitions

Assurant Partnerships

APCIA

Disability:IN

Mortgage Bankers

Valuing Every Voice