ASSURANT, INC.

3. Disposition

In 2025, the Company entered into an agreement to sell a subsidiary (the “pending subsidiary sale”) that holds certain runoff businesses, including the long-term care business, and is reported in the Corporate and Other segment. The sale was subject to regulatory approval by the New York State Department of Financial Services, which was obtained in January 2026. The Company reports a business as held for sale when management has received approval to sell the business and is committed to a formal plan, the business is available for immediate sale, the business is being actively marketed, the sale is anticipated to occur during the ensuing year and certain other specified criteria are met. A business classified as held for sale is recorded at the lower of its carrying amount or estimated fair value less costs to sell, which is required to be remeasured each reporting period. If the carrying amount of the business exceeds its estimated fair value, which is based on the estimated sales price of the transaction, less costs to sell, a loss is recognized. Depreciation is not recorded on assets of a business classified as held for sale.

As of December 31, 2025, the pending subsidiary sale met the criteria for held for sale presentation as described above and, therefore, its assets and liabilities were recorded as held for sale in the consolidated balance sheet. The major classes of assets and liabilities held for sale as of December 31, 2025 included $489.4 million of reinsurance recoverables and $477.1 million of future policy benefits and expenses. As a result of the classification as held for sale, a loss of $10.7 million was recorded in underwriting, selling, general and administrative expenses in the consolidated statement of operations for the year ended December 31, 2025.