Company: AIZ
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001267238-25-000045
Chunk: 23

Company: ASSURANT, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 23
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 protection programs and a new program in financial services, partially offset by a decline in U.S. extended service contracts, as well as the unfavorable impact of foreign exchange. Fees and other income increased $100.5 million, or 15%, primarily due to higher volumes for global mobile trade-in programs and a new program in financial services. Net investment income decreased $4.2 million, or 2%, primarily due to lower income from cash and short-term investments and real estate, partially offset by higher income due to higher yields and asset balances in fixed maturity securities.

Total benefits, losses and expenses increased $280.1 million, or 7%, to $4.43 billion for Six Months 2025 from $4.15 billion for Six Months 2024. Selling and underwriting expenses increased $125.5 million, or 5%, primarily due to an increase in commission expenses in Connected Living, mainly related to the growth from global mobile device protection programs in line with the increase in net earned premiums. Policyholder benefits increased $74.4 million, or 9%, primarily due to a new financial services program in Connected Living, partially offset by lower losses within Global Automotive. Cost of sales increased $47.8 million, or 13%, driven by higher volumes in global mobile trade-in programs. General expenses increased $32.4 million, or 6%, primarily due to higher employee-related and information technology expenses to support growth initiatives.

38

Global Housing

The table below presents information regarding the Global Housing segment’s results of operations for the periods indicated:

 For the Three Months Ended June 30,For the Six Months Ended June 30, 2025202420252024RevenuesNet earned premiums$650.2 $580.4 $1,265.5 $1,121.0 Fees and other income47.5 53.2 89.0 84.8 Net investment income34.4 29.9 68.1 58.4 Total revenues732.1 663.5 1,422.6 1,264.2 Benefits, losses and expensesPolicyholder benefits258.7 279.9 591.7 480.2 Selling and underwriting expenses52.4 34.8 91.9 72.9 General expenses206.6 187.9 412.2 357.7 Total benefits, losses and expenses517.7 502.6 1