Company: AIZ
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001267238-25-000051
Chunk: 23

Company: ASSURANT, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 23
---
2 1.0 %Total$8,294.7 100.0 %$7,175.1 100.0 %

The following table shows the major categories of net investment income for the periods indicated: 

 Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Fixed maturity securities$111.4 $99.2 $319.7 $285.9 Equity securities3.0 3.3 9.0 10.1 Commercial mortgage loans on real estate4.4 4.8 14.2 14.5 Short-term investments4.2 4.3 14.1 13.5 Other investments0.8 2.1 (1.1)11.5 Cash and cash equivalents14.0 19.7 43.7 58.0 Total investment income137.8 133.4 399.6 393.5 Investment expenses(4.3)(3.7)(12.6)(12.4)Net investment income$133.5 $129.7 $387.0 $381.1 

Net investment income increased $3.8 million, or 3%, to $133.5 million for Third Quarter 2025 from $129.7 million for Third Quarter 2024. The increase was primarily driven by higher assets and yields in fixed maturity securities, partially offset by reduced income due to lower yields and balances in cash and cash equivalents and reduced income in real estate joint ventures.

Net realized losses on investments and fair value changes to equity securities decreased $4.7 million, or 26%, to $13.6 million for Third Quarter 2025 from $18.3 million for Third Quarter 2024.The decrease was primarily driven by fewer impairments, as well as fewer sales of fixed maturity securities at a loss, partially offset by lower valuation adjustments in equity securities and an increase in the allowance for credit losses for commercial mortgage loans.

Net investment income increased $5.9 million, or 2%, to $387.0 million for Nine Months 2025 from $381.1 million for Nine Months 2024. The increase was primarily driven by higher assets and yields in fixed maturity securities, partially offset by reduced income in cash and cash equivalents and reduced income in real estate joint ventures and other partnerships.  

Net realized losses on investments and