Company: AIZ
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001267238-25-000051
Chunk: 21

Company: ASSURANT, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 21
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45 billion for Nine Months 2024. General expenses increased $81.1 million, or 15%, and selling and underwriting expenses increased $33.3 million, or 29%, both primarily due to higher costs associated with growth. Policyholder benefits increased $10.1 million, or 1%, primarily due to higher non-catastrophe losses from exposure growth and severity, partially offset by favorable frequency, as well as lower reportable catastrophe losses and $5.9 million of favorable year-over-year non-catastrophe prior year reserve development. Nine Months 2025 had $91.0 million of favorable non-catastrophe prior year reserve development compared to $85.1 million in Nine Months 2024.

40

Corporate and Other 

The tables below present information regarding the Corporate and Other’s segment results of operations for the periods indicated:

For the Three Months Ended September 30,For the Nine Months Ended September 30,2025202420252024RevenuesNet earned premiums$— $— $— $— Fees and other income— 0.1 1.7 0.4 Net investment income5.7 7.8 17.1 20.5 Total revenues5.7 7.9 18.8 20.9 Benefits, losses and expensesPolicyholder benefits— — — — General expenses37.3 37.7 108.2 107.4 Total benefits, losses and expenses37.3 37.7 108.2 107.4 Corporate and Other Adjusted EBITDA$(31.6)$(29.8)$(89.4)$(86.5)

For the Three Months Ended September 30, 2025 Compared to the Three Months Ended September 30, 2024

Adjusted EBITDA decreased $1.8 million, or 6%, to $(31.6) million for Third Quarter 2025 from $(29.8) million for Third Quarter 2024. The change in results was primarily due to lower net investment income. 

Total revenues decreased $2.2 million, or 28%, to $5.7 million for Third Quarter 2025 from $7.9 million for Third Quarter 2024, primarily driven by a decrease in net investment income of $2.1 million, or 27%, mostly due to lower invested assets.

Total benefits, losses and expenses decreased