Company: AIZ
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001267238-25-000051
Chunk: 28

Company: ASSURANT, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 28
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 liability assumptions and new business projections is also performed. 

Our liabilities generally have limited policyholder optionality, which means that the timing of payments is generally insensitive to the interest rate environment. In addition, our investment portfolio is largely comprised of highly liquid public fixed maturity securities with a sufficient component of such securities invested that are near maturity which may be sold with minimal risk of loss to meet cash needs. 

Generally, our subsidiaries’ premiums, fees and investment income, along with planned asset sales and maturities, provide sufficient cash to pay claims and expenses. However, there may be instances when unexpected cash needs arise in excess of that available from usual operating sources. In such instances, we have several options to raise needed funds, including selling assets from the subsidiaries’ investment portfolios, using holding company cash (if available), issuing commercial paper, or drawing funds from the Credit Facility. 

44

Senior and Subordinated Notes 

The following table shows the principal amount and carrying value of our outstanding debt, less unamortized discount and issuance costs as applicable, as of September 30, 2025 and December 31, 2024:

September 30, 2025December 31, 2024Principal AmountCarrying ValuePrincipal AmountCarrying Value6.10% Senior Notes due February 2026$— $— $175.0 $174.3 4.90% Senior Notes due March 2028300.0 298.9 300.0 298.6 3.70% Senior Notes due February 2030350.0 348.4 350.0 348.2 2.65% Senior Notes due January 2032350.0 347.7 350.0 347.3 6.75% Senior Notes due February 2034275.0 273.0 275.0 272.8 5.55% Senior Notes due February 2036300.0 296.0 — — 7.00% Fixed-to-Floating Rate Subordinated Notes due March 2048400.0 398.2 400.0 397.7 5.25% Subordinated Notes due January 2061250.0 244.2 250.0 244.2 Total Debt$2,206.4 $2,083.1 

2036 Senior Notes: In August 2025, we issued senior notes due February 2036 with an aggregate