Company: AIZ
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001267238-25-000051
Chunk: 18

Company: ASSURANT, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 18
---
 increased $301.1 million, or 5%, primarily driven by growth in Connected Living from mobile subscriber growth and a new program in financial services, partially offset by a decline in domestic extended service contracts and the unfavorable impact of foreign exchange. Fees and other income increased $141.7 million, or 13%, primarily due to growth from global mobile trade-in programs and a new program in financial services. Net investment income decreased $1.7 million, or 1%, primarily due to lower income from real estate, cash and short-term investments, partially offset by higher income due to higher yields and asset balances in fixed maturity securities.

Total benefits, losses and expenses increased $416.8 million, or 7%, to $6.72 billion for Nine Months 2025 from $6.30 billion for Nine Months 2024. Selling and underwriting expenses increased $177.2 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 $112.1 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 $72.0 million, or 12%, driven by growth in global mobile trade-in programs. General expenses increased $55.5 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 September 30,For the Nine Months Ended September 30, 2025202420252024RevenuesNet earned premiums$651.4 $557.0 $1,916.9 $1,678.0 Fees and other income51.5 46.8 140.5 131.6 Net investment income36.0 31.7 104.1 90.1 Total revenues738.9 635.5 2,161.5 1,899.7 Benefits, losses and expensesPolicyholder benefits221.9 323.3 813.6 803.5 Selling and underwriting expenses54.9 40.6 146.8 113.5 General expenses205.8 179.2 618.0 536.9 Total benefits