ASSURANT, INC.

13. Property and Equipment

Property and equipment consisted of the following as of the dates indicated:

Depreciation expense for the years ended December 31, 2025, 2024 and 2023 amounted to $156.4 million, $139.4 million and $109.3 million, respectively, including a writedown of $5.3 million for the year ended December 31, 2025 for assets associated with property located in Springfield, Ohio which the Company started marketing for sale in 2025. Depreciation expense is included in underwriting, selling, general and administrative expenses in the consolidated statements of operations.

The assets of the Miami, Florida office met held-for-sale criteria in second quarter 2023 and were reclassified from property and equipment, net, to other assets in the consolidated balance sheet. The Company has ceased depreciation of these assets which are recorded at carrying value of $46.0 million as of December 31, 2025 and 2024, which is less than the estimated fair value less estimated costs to sell. During first quarter 2025, the Company entered into an agreement to sell the Miami, Florida property to a buyer for a purchase price of $126.0 million, subject to certain adjustments and to the buyer receiving the requisite development approvals. There can be no assurance that the transaction will be consummated.

During the year ended December 31, 2025, the Company recorded a $1.8 million loss on the sale of a property that previously served as an operations center located in Florence, South Carolina.