ASSURANT, INC.
For the period ended Mar 31, 2026. Filed May 7, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 7, 2026
AIZ$322.16+1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Consolidated Balance Sheets (unaudited)
| March 31, 2026 | December 31, 2025 | |
|---|---|---|
| (in millions, except number of shares and per share amounts) | ||
| Assets | ||
| Investments: | ||
| Fixed maturity securities available for sale, at fair value (net of allowances for credit losses of $2.8 and $1.9 at March 31, 2026 and December 31, 2025, respectively; amortized cost - $8,956.7 and $8,635.3 at March 31, 2026 and December 31, 2025, respectively) | $8,783.8 | $8,577.7 |
| Equity securities at fair value | 197.3 | 207.1 |
| Commercial mortgage loans on real estate, at amortized cost (net of allowances for credit losses of $6.3 and $6.7 at March 31, 2026 and December 31, 2025, respectively) | 309.5 | 324.7 |
| Short-term investments | 329.8 | 379.5 |
| Other investments | 601.5 | 573.0 |
| Total investments | 10,221.9 | 10,062.0 |
| Cash and cash equivalents | 1,591.7 | 1,834.1 |
| Premiums and accounts receivable (net of allowances for credit losses of $12.4 and $10.4 at March 31, 2026 and December 31, 2025, respectively) | 2,025.3 | 1,989.4 |
| Reinsurance recoverables (net of allowances for credit losses of $5.2 at March 31, 2026 and December 31, 2025) | 6,542.0 | 6,471.3 |
| Accrued investment income | 118.7 | 135.4 |
| Deferred acquisition costs | 10,201.4 | 10,187.6 |
| Property and equipment, net | 848.9 | 841.7 |
| Goodwill | 2,654.5 | 2,646.3 |
| Other intangible assets, net | 511.1 | 522.0 |
| Other assets (net of allowances for credit losses of $0.9 at March 31, 2026 and December 31, 2025) | 1,053.0 | 1,087.4 |
| Assets held for sale (Note 4) | — | 512.4 |
| Total assets | $35,768.5 | $36,289.6 |
| Liabilities | ||
| Future policy benefits and expenses | $54.7 | $55.7 |
| Unearned premiums | 20,902.7 | 20,881.4 |
| Claims and benefits payable | 2,168.6 | 2,101.2 |
| Commissions payable | 606.0 | 640.6 |
| Funds held under reinsurance | 287.1 | 266.4 |
| Accounts payable and other liabilities (including allowances for credit losses of $0.7 and $0.9 at March 31, 2026 and December 31, 2025, respectively, for the unsecured portion of the high deductible recoverables) | 3,672.5 | 3,766.3 |
| Debt | 2,207.5 | 2,206.9 |
| Liabilities held for sale (Note 4) | — | 499.5 |
| Total liabilities | 29,899.1 | 30,418.0 |
| Commitments and contingencies (Note 14) | ||
| Stockholders’ equity | ||
| Common stock, par value $0.01 per share, 800,000,000 shares authorized, 51,967,256 and 52,089,008 shares issued and 49,671,167 and 49,792,919 shares outstanding at March 31, 2026 and December 31, 2025, respectively | 0.5 | 0.5 |
| Additional paid-in capital | 1,671.4 | 1,711.8 |
| Retained earnings | 4,949.3 | 4,826.3 |
| Accumulated other comprehensive loss | (629.0) | (544.2) |
| Treasury stock, at cost; 2,296,089 shares at March 31, 2026 and December 31, 2025 | (122.8) | (122.8) |
| Total stockholders’ equity | 5,869.4 | 5,871.6 |
| Total liabilities and stockholders’ equity | $35,768.5 | $36,289.6 |
Consolidated Statements of Operations (unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| (in millions, except number of shares and per share amounts) | ||
| Revenues | ||
| Net earned premiums | $2,781.9 | $2,562.3 |
| Fees and other income | 499.8 | 402.9 |
| Net investment income | 159.6 | 124.8 |
| Net realized losses on investments (including $5.6 and $3.0, of impairment-related losses for the three months ended March 31, 2026 and 2025, respectively) and fair value changes to equity securities | (21.2) | (16.0) |
| Total revenues | 3,420.1 | 3,074.0 |
| Benefits, losses and expenses | ||
| Policyholder benefits | 769.1 | 779.7 |
| Underwriting, selling, general and administrative expenses | 2,287.1 | 2,083.8 |
| Interest expense | 28.3 | 26.8 |
| Total benefits, losses and expenses | 3,084.5 | 2,890.3 |
| Income before income tax expense | 335.6 | 183.7 |
| Income tax expense | 61.5 | 37.1 |
| Net income | $274.1 | $146.6 |
| Earnings Per Common Share | ||
| Basic | $5.47 | $2.86 |
| Diluted | $5.41 | $2.83 |
| Share Data | ||
| Weighted average common shares outstanding used in basic per common share calculations | 49,702,511 | 50,799,019 |
| Plus: Dilutive securities | 495,036 | 449,697 |
| Weighted average common shares outstanding used in diluted per common share calculations | 50,197,547 | 51,248,716 |
Consolidated Statements of Comprehensive Income (unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| (in millions) | ||
| Net income | $274.1 | $146.6 |
| Other comprehensive income (loss): | ||
| Change in unrealized losses on securities, net of taxes of $21.2 and $(18.2) for the three months ended March 31, 2026 and 2025, respectively | (89.6) | 75.2 |
| Change in unrealized gains on derivative transactions, net of taxes of $0.2 and $(0.4) for the three months ended March 31, 2026 and 2025, respectively | (0.9) | 1.4 |
| Change in foreign currency translation, net of taxes of $0.3 and $(2.4) for the three months ended March 31, 2026 and 2025, respectively | 5.5 | 8.8 |
| Change in pension and postretirement unrecognized net periodic benefit cost, net of taxes of $(0.1) and $(0.6) for the three months ended March 31, 2026 and 2025, respectively | 0.2 | 2.2 |
| Total other comprehensive income (loss) | (84.8) | 87.6 |
| Total comprehensive income | $189.3 | $234.2 |
Consolidated Statements of Changes in Stockholders’ Equity (unaudited)
| Three Months Ended March 31, 2026 | ||||||
|---|---|---|---|---|---|---|
| Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss | Treasury Stock | Total | |
| (in millions) | ||||||
| Balance at December 31, 2025 | $0.5 | $1,711.8 | $4,826.3 | $(544.2) | $(122.8) | $5,871.6 |
| Stock plan exercises | — | 8.4 | — | — | — | 8.4 |
| Stock plan compensation expense | — | 17.6 | — | — | — | 17.6 |
| Common stock dividends ($0.88 per share) | — | — | (44.0) | — | — | (44.0) |
| Acquisition of common stock | — | (66.4) | (107.1) | — | — | (173.5) |
| Net income | — | — | 274.1 | — | — | 274.1 |
| Other comprehensive loss | — | — | — | (84.8) | — | (84.8) |
| Balance at March 31, 2026 | $0.5 | $1,671.4 | $4,949.3 | $(629.0) | $(122.8) | $5,869.4 |
| Three Months Ended March 31, 2025 | ||||||
|---|---|---|---|---|---|---|
| Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss | Treasury Stock | Total | |
| (in millions) | ||||||
| Balance at December 31, 2024 | $0.5 | $1,686.8 | $4,378.3 | $(836.1) | $(122.8) | $5,106.7 |
| Stock plan exercises | — | 7.6 | — | — | — | 7.6 |
| Stock plan compensation expense | — | 15.1 | — | — | — | 15.1 |
| Common stock dividends ($0.80 per share) | — | — | (40.9) | — | — | (40.9) |
| Acquisition of common stock | — | (35.6) | (52.9) | — | — | (88.5) |
| Net income | — | — | 146.6 | — | — | 146.6 |
| Other comprehensive income | — | — | — | 87.6 | — | 87.6 |
| Balance at March 31, 2025 | $0.5 | $1,673.9 | $4,431.1 | $(748.5) | $(122.8) | $5,234.2 |
Consolidated Statements of Cash Flows (unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| (in millions) | ||
| Operating activities | ||
| Net income | $274.1 | $146.6 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Noncash revenues, expenses, gains and losses included in net income from operations: | ||
| Deferred tax expense (benefit) | 43.1 | (12.9) |
| Depreciation and amortization | 66.5 | 56.7 |
| Net realized losses on investments, including impairment losses | 21.2 | 16.0 |
| Loss on sale of business | 0.5 | — |
| Stock based compensation expense | 17.6 | 15.1 |
| Restructuring costs | — | (1.1) |
| Changes in operating assets and liabilities: | ||
| Insurance policy reserves and expenses | 61.5 | (465.1) |
| Premiums and accounts receivable | (16.7) | 241.7 |
| Commissions payable | (36.7) | 21.0 |
| Reinsurance recoverable | (71.1) | 190.4 |
| Funds withheld under reinsurance | 21.2 | (2.6) |
| Deferred acquisition costs and value of business acquired | (4.8) | 56.2 |
| Taxes (receivable) payable | (99.6) | 31.5 |
| Other assets and other liabilities | (26.5) | 98.0 |
| Other | (10.0) | 0.9 |
| Net cash provided by operating activities | 240.3 | 392.4 |
| Investing activities | ||
| Sales of: | ||
| Fixed maturity securities available for sale | 344.1 | 270.5 |
| Equity securities | 15.5 | 15.4 |
| Other invested assets | 27.1 | 13.3 |
| Subsidiary, net of cash transferred | 1.4 | — |
| Maturities, calls, prepayments, and scheduled redemption of: | ||
| Fixed maturity securities available for sale | 183.0 | 233.2 |
| Commercial mortgage loans on real estate | 25.1 | 11.1 |
| Purchases of: | ||
| Fixed maturity securities available for sale | (809.9) | (842.6) |
| Equity securities | (8.6) | (10.6) |
| Commercial mortgage loans on real estate | (9.6) | (13.8) |
| Other invested assets | (39.0) | (26.6) |
| Property and equipment and other | (47.7) | (53.4) |
| Subsidiaries, net of cash transferred | (14.1) | — |
| Change in short-term investments | 50.4 | (18.2) |
| Other | — | 0.1 |
| Net cash used in investing activities | (282.3) | (421.6) |
Consolidated Statements of Cash Flows (unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Financing activities | ||
| Acquisition of common stock | (124.2) | (64.3) |
| Common stock dividends paid | (44.0) | (40.9) |
| Employee stock purchases and withholdings | (34.4) | (13.5) |
| Net cash used in financing activities | (202.6) | (118.7) |
| Effect of exchange rate changes on cash and cash equivalents | 2.2 | 9.8 |
| Change in cash and cash equivalents | (242.4) | (138.1) |
| Cash and cash equivalents at beginning of period | 1,834.1 | 1,807.7 |
| Cash and cash equivalents at end of period | $1,591.7 | $1,669.6 |
INDEX OF NOTES
| Note | Page Number |
|---|---|
| 1. Nature of Operations | 8 |
| 2. Basis of Presentation | 8 |
| 3. Recent Accounting Pronouncements | 9 |
| 4. Disposition | 9 |
| 5. Segment Information | 10 |
| 6. Contract Revenues | 12 |
| 7. Investments | 13 |
| 8. Fair Value Disclosures | 18 |
| 9. Deferred Acquisition Costs | 21 |
| 10. Reserves | 22 |
| 11. Accumulated Other Comprehensive Income | 23 |
| 12. Earnings Per Common Share | 24 |
| 13. Retirement and Other Employee Benefits | 25 |
| 14. Commitments and Contingencies | 26 |
| 15. Restructuring and Related Impairment Charges | 26 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.