Company: AIZ
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001267238-25-000026
Chunk: 27

Company: ASSURANT, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 27
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 net investing cash flows was primarily driven by the increased investment of net cash provided by operating activities and the reinvestment of proceeds from the sale of fixed maturity securities.  Also contributing to the change was a decrease in sales of short-term investments due to the timing of working capital needs. 

Net cash used in financing activities was $118.7 million for First Quarter 2025 compared to net cash used in financing activities of $96.2 million for First Quarter 2024. The change in net financing cash flows was primarily due to higher share repurchases for First Quarter 2025. 

The table below shows our cash outflows for interest and dividends for the periods indicated: 

 For the Three Months Ended March 31, 20252024Interest paid on debt$50.4 $50.4 Common stock dividends40.9 37.4 Total$91.3 $87.8 

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Letters of Credit

In the normal course of business, letters of credit are issued primarily to support reinsurance arrangements in which we are the reinsurer. These letters of credit are supported by commitments under which we are required to indemnify the financial institution issuing the letter of credit if the letter of credit is drawn. We had $1.6 million and $1.8 million of letters of credit outstanding as of March 31, 2025 and December 31, 2024, respectively. 

Limited Recourse Note

In 2024, we entered into a financing arrangement pursuant to which we are able to issue a $100 million limited recourse note and, in return, obtain a $100 million asset-backed note from a Delaware master trust. As of March 31, 2025, no notes have been issued under this arrangement. 

Item 3. Quantitative and Qualitative Disclosures About Market Risk 

For our market risk disclosures, please refer to “Item 7A—Quantitative and Qualitative Disclosures About Market Risk” in our 2024 Annual Report and “Item 2—Management’s Discussion and Analysis of Financial Condition and Results of Operations—Investments” in this Report. 

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Our management, with the participation of our Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), has evaluated the effectiveness of our disclosure controls and procedures pursuant to Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as