Company: AIZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001267238-25-000008
Chunk: 11

Company: ASSURANT, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1
Chunk 11
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, please refer to our website at https://www.assurant.com/about-us/sustainability. The information found on our website and in such reports is not incorporated by reference into and does not constitute a part of this Report. 

Segments 

The composition of our reportable segments aligns with how we view and manage our business. For additional information on our segments, see “Item 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations – Results of Operations” and Note 5 to the Consolidated Financial Statements included elsewhere in this Report.

4

Global Lifestyle

 Years Ended December 31, 202420232022Net earned premiums, fees and other income by product:Connected Living (1)$4,807.9 $4,376.8 $4,259.4 Global Automotive4,159.4 4,184.6 3,802.5 Total$8,967.3 $8,561.4 $8,061.9 Segment Adjusted EBITDA$773.4 $792.3 $809.4 Segment equity (2)$4,830.9 $4,822.0 $4,743.3 

(1)For the years ended December 31, 2024, 2023 and 2022, 50.6%, 44.8%, and 46.0%, respectively, of net earned premiums, fees and other income was from mobile device solutions; 38.8%, 44.7%, and 44.3%, respectively, was from extended service contracts and related services for consumer electronics and appliances; and 10.6%, 10.5%, and 9.7%, respectively, was from financial services and other insurance products. 

(2)Segment equity does not include components of accumulated other comprehensive income (“AOCI”), which is primarily comprised of net unrealized gains/ losses on securities, net of taxes. For additional information on total AOCI, see Note 21 to the Consolidated Financial Statements included elsewhere in this Report.

Our Products and Services

The key lines of business in Global Lifestyle are: Connected Living, which includes mobile device solutions (including extended service contracts, insurance policies and device lifecycle related services), extended service contracts and related services for consumer electronics and appliances, and financial services and other insurance products; and Global Automotive. 

Connected Living: Through partnerships with mobile service providers (including carriers, retailers, original equipment