Company: AIZ
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001267238-25-000051
Chunk: 19

Company: ASSURANT, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 19
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, losses and expenses482.6 543.1 1,578.4 1,453.9 Global Housing Adjusted EBITDA$256.3 $92.4 $583.1 $445.8 Impact of reportable catastrophes$2.9 $136.8 $189.4 $195.2 Net earned premiums, fees and other incomeHomeowners$553.9 $478.4 $1,629.6 $1,438.5 Renters and Other149.0 125.4 427.8 371.1 Total$702.9 $603.8 $2,057.4 $1,809.6 

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

Adjusted EBITDA increased $163.9 million, or 177%, to $256.3 million for Third Quarter 2025 from $92.4 million for Third Quarter 2024, mainly due to $133.9 million of lower pre-tax reportable catastrophes, the previously disclosed $27.5 million unfavorable non-run rate adjustment from Third Quarter 2024 and continued growth within Homeowners, including lower claims frequency and higher lender-placed policies in-force which benefitted from voluntary insurance market pressure. The increase in Adjusted EBITDA was partially offset by $16.2 million of lower year-over-year favorable non-catastrophe prior period reserve development, as well as higher costs associated with growth. Third Quarter 2025 had $28.5 million of favorable non-catastrophe prior period reserve development compared to $44.7 million in Third Quarter 2024.

Total revenues increased $103.4 million, or 16%, to $738.9 million for Third Quarter 2025 from $635.5 million for Third Quarter 2024. Net earned premiums increased $94.4 million, or 17%, primarily driven by the non-run rate adjustment described above, growth in Homeowners from higher lender-placed policies in-force and average premiums, growth in Renters and Other, primarily from a block of newly acquired renters policies, and growth across various specialty products within Homeowners. Fees and other income increased $4.7 million, or 10%, primarily driven by continued growth in service fees within Homeowners. Net investment income increased $4.3