Company: AIZ
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001267238-25-000045
Chunk: 24

Company: ASSURANT, INC.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 24
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,095.8 910.8 Global Housing Adjusted EBITDA$214.4 $160.9 $326.8 $353.4 Impact of reportable catastrophes$29.8 $45.5 $186.5 $58.4 Net earned premiums, fees and other incomeHomeowners$552.8 $512.7 $1,075.7 $960.1 Renters and Other144.9 120.9 278.8 245.7 Total$697.7 $633.6 $1,354.5 $1,205.8 

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

Adjusted EBITDA increased $53.5 million, or 33%, to $214.4 million for Second Quarter 2025 from $160.9 million for Second Quarter 2024, mainly due to favorable non-catastrophe loss experience from favorable prior period reserve development and lower claims frequency, continued growth within Homeowners, including higher policies in-force, average insured values and premium rates, and $15.7 million of lower pre-tax reportable catastrophes. The increase in Adjusted EBITDA was partially offset by higher costs associated with growth.

Total revenues increased $68.6 million, or 10%, to $732.1 million for Second Quarter 2025 from $663.5 million for Second Quarter 2024. Net earned premiums increased $69.8 million, or 12%, primarily driven by Homeowners from higher lender-placed policies in-force, average insured values and premium rates, growth across various specialty products within Homeowners, and growth in Renters and Other primarily from a block of newly acquired renters policies, partially offset by higher catastrophe reinsurance premiums from exposure changes. Net investment income increased $4.5 million, or 15%, primarily due to higher invested asset balances and yields. Fees and other income decreased $5.7 million, or 11%, primarily driven by the year-to-date reclassification of certain service fees from an expense account in Second Quarter 2024.

Total benefits, losses and expenses increased $15.1 million, or 3%, to $517.7 million for Second Quarter 2025 from $502.6 million for Second Quarter 2024. General expenses increased $18.7 million