Company: AIZ
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001267238-25-000045
Chunk: 34

Company: ASSURANT, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 34
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 Facility”) with certain lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and Wells Fargo Bank, National Association, as syndication agent. The Credit Facility replaced our prior $500.0 million five-year senior unsecured revolving credit facility, which terminated upon the effectiveness of the Credit Facility. The Credit Facility provides for revolving loans and the issuance of multi-bank, syndicated letters of credit and letters of credit from a sole issuing bank in an aggregate amount of $500.0 million, which may be increased up to $750.0 million. The Credit Facility is available until June 2030, provided we are in compliance with all covenants. The Credit Facility has a sublimit for letters of credit issued thereunder of $50.0 million. The proceeds from these loans may be used for our commercial paper program or for general corporate purposes.

We made no borrowings under the Credit Facility or our prior $500.0 million five-year senior unsecured revolving credit facility during Six Months 2025, and no loans were outstanding under the Credit Facility as of June 30, 2025.

Our commercial paper program requires us to maintain liquidity facilities either in an available amount equal to any outstanding notes from the program or in an amount sufficient to maintain the ratings assigned to the notes issued from the program. Our commercial paper is rated AMB-1+ by A.M. Best, P-2 by Moody’s and A-2 by S&P. Our subsidiaries do not maintain commercial paper or other borrowing facilities. This program is currently backed up by the Credit Facility, of which $500.0 million was available as of June 30, 2025. 

We did not use the commercial paper program during Six Months 2025 and there were no amounts relating to the commercial paper program outstanding as of June 30, 2025. 

Cash Flows 

We monitor cash flows at the consolidated, holding company and subsidiary levels. Cash flow forecasts at the consolidated and subsidiary levels are provided on a monthly basis, and we use trend and variance analyses to project future cash needs making adjustments to the forecasts when needed.

The table below shows our net cash flows for the periods indicated: 

 For the Six Months Ended June 30,Net cash provided by (used in):20252024Operating activities$657.9 $793.4 Investing activities(784.5)(521.6)Financing activities(223.0)(177.0)Effect of exchange rate changes on