Assurant (AIZ) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool Wed, May 6, 2026 at 11:12 PM GMT+7 30 min read AIZ Image source: The Motley Fool. President and Chief Executive Officer — Keith Demmings Need a quote from a Motley Fool analyst? Email pr@fool.com Keith Demmings: Good morning, and thank you for joining us. Following a remarkable 2025, where we delivered our third consecutive year of double-digit earnings and EPS growth, we re pleased to share that 2026 is off to a strong start. The first quarter represents the strongest performance in Assurant s history, driven by record earnings in Global Lifestyle. We delivered 6% growth in adjusted EBITDA and 9% growth in adjusted EPS, both excluding reportable catastrophes. When excluding impacts from Global Housing s prior year reserve development, these metrics grew 8% and 12%, respectively. Once again, our diversified portfolio and disciplined execution supported strong performance in a dynamic operating environment. Our results this quarter reflect the momentum we ve built across the enterprise, supported by the durability of our earnings. We leveraged the strength and flexibility of our capital position to accelerate share repurchases during the quarter given our compelling valuation. At the center of our performance is our talented workforce, leading with insight, challenging convention and delivering with discipline. Their commitment continues to help us and our clients win together, as we redefine protection and related services and create value across the markets we serve. The first quarter represents an exceptional start to the year, reinforcing our path to achieving our tenth consecutive year of profitable growth. Turning to Global Lifestyle. We delivered an exceptional first quarter with double-digit earnings growth in both Connected Living and Global Automotive. In Connected Living, earnings increased 18%, driven by expansion with existing clients and continued optimization of recently added programs. As our earnings benefit from the momentum we ve built, we continue to execute on our compelling pipeline of new opportunities with 4 new mobile announcements this quarter. First, our long-term agreement with T-Mobile supports our leadership and innovation in this space. Following the success of our reverse logistics partnership, we deepened our relationship following T-Mobile s acquisition of U.S. Cellular, successfully migrating another large in-force mobile subscriber base and contributing to an increase in our total devices protected that now stands at nearly 69 million devices globally. Like our prior device protection migration with Sprint, this reflects our proven ability to quickly transition large, complex device protection portfolios with minimal disruption and low subscriber churn, a critical proof point for potential new clients. Taken together, these milestones reinforce the strength of our relationship with a leading U.S. carrier and highlight the strategic value of our integrated mobile protection, repair and logistics platform. Second, we re extending our leadership in reverse logistics through a new opportunity with another large U.S. carrier. This engagement expands our existing services to support all device return and disposition channels. Return devices will be repaired for circular usage, creating incremental value across their network. Devices will be processed through our highly automated Nashville device care center demonstrating how our investments in scaled infrastructure and operational excellence are enabling us to deepen relationships with key mobile partners and unlock new growth opportunities. Third, we recently expanded our partnership with Xfinity Mobile through a new rate plan that includes lifetime device protection for phones, tablets and watches, and includes a benefit that allows customers to receive a phone upgrade anytime. These benefits are embedded in Xfinity s Mobile Plus plant at a single bundled cost to customers. This milestone builds on our 10-year partnership with Xfinity and underscores our shared focus on long-term customer value. And finally, following last year s introduction of Verizon s Total Wireless Protect, we expanded the offering to now include a more comprehensive loss and theft product. In addition, we recently launched Straight Talk Protect. This collaboration represents our third prepaid brand with Verizon, and further strengthens our footprint with this major carrier. Our success over the last 2 years in mobile has built extraordinary momentum. Our embedded scalable model demonstrates mobile s multiple growth paths, deep client entanglement and our innovation-led operating model. Turning to Global Automotive. Following an inflection year in 2025, earnings increased 23% in the quarter, benefiting from higher investment income and continued loss improvement. Our performance this quarter positions the business for continued growth in 2026 as we remain focused on solidifying and expanding existing part

Assurant (AIZ) Q1 2026 Earnings Call Transcript

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Assurant (AIZ) Q1 2026 Earnings Call Transcript

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