ASSURANT, INC.
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
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15. VOBA and Other Intangible Assets
- VOBA and Other Intangible Assets
VOBA
Information about VOBA, which is included in other assets in the consolidated balance sheets, is as follows for the periods indicated:
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Beginning balance | $8.0 | $83.9 | $262.8 |
| Amortization, net of interest accrued | (3.6) | (75.9) | (179.2) |
| Foreign currency translation and other | (0.1) | — | 0.3 |
| Ending balance | $4.3 | $8.0 | $83.9 |
As of December 31, 2025, the outstanding VOBA balance is primarily related to the 2018 acquisition of TWG within the Global Lifestyle segment.
As of December 31, 2025, the estimated amortization of VOBA will be recognized through 2029 as follows:
| Year | Amount |
|---|---|
| 2026 | $1.7 |
| 2027 | 1.4 |
| 2028 | 0.8 |
| 2029 | 0.4 |
| Total | $4.3 |
Other Intangible Assets
Information about other intangible assets is as follows as of the dates indicated:
| As of December 31, | ||||||
|---|---|---|---|---|---|---|
| 2025 | 2024 | |||||
| Carrying Value | Accumulated Amortization | Net Other Intangible Assets | Carrying Value | Accumulated Amortization | Net Other Intangible Assets | |
| Purchased intangible assets | $915.2 | $(563.5) | $351.7 | $901.1 | $(515.6) | $385.5 |
| Operating intangible assets | 304.5 | (145.9) | 158.6 | 239.2 | (100.8) | 138.4 |
| Total finite-lived intangible assets | 1,219.7 | (709.4) | 510.3 | 1,140.3 | (616.4) | 523.9 |
| Total indefinite-lived intangible assets | 11.7 | — | 11.7 | 11.7 | — | 11.7 |
| Total other intangible assets | $1,231.4 | $(709.4) | $522.0 | $1,152.0 | $(616.4) | $535.6 |
Purchased intangible assets primarily consist of contract based and customer related intangibles related to acquisitions over the past few years. Operating intangible assets primarily consist of customer related intangibles. These intangible assets are amortized over their useful lives.
Amortization of other intangible assets is as follows as of the dates indicated:
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Purchased intangible assets | $67.4 | $69.1 | $77.9 |
| Operating intangible assets | 41.5 | 28.8 | 20.2 |
| Total | $108.9 | $97.9 | $98.1 |
The estimated amortization of other intangible assets with finite lives for the next five years and thereafter is as follows:
| Year | Purchased Intangible Assets | Operating Intangible Assets | Total |
|---|---|---|---|
| 2026 | $70.8 | $36.2 | $107.0 |
| 2027 | 55.0 | 31.4 | 86.4 |
| 2028 | 49.5 | 25.7 | 75.2 |
| 2029 | 42.7 | 18.1 | 60.8 |
| 2030 | 40.8 | 15.5 | 56.3 |
| Thereafter | 92.9 | 31.7 | 124.6 |
| Total other intangible assets with finite lives | $351.7 | $158.6 | $510.3 |
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