Slide 1: Fourth Quarter & Full-Year 2024 Results
Investor Presentation Fourth Quarter & Full-Year 2024 Results © 2025 Assurant, Inc. All rights reserved. Company confidential. 1
Slide 2: Keith Demmings and Keith Meier
Keith Demmings Keith Meier President Executive Vice President & Chief Executive Officer & Chief Financial Officer © 2025 Assurant, Inc. All rights reserved. Company confidential. 2
Slide 3: Cautionary Statement
Cautionary Statement Some of the statements in this presentation, including our business and financial plans and any statements regarding our anticipated future financial performance, business prospects, growth, operating strategies, valuation and similar matters, such as performance outlook, financ
Slide 4: Full-Year 2024: Second Consecutive Year of Double-Digit Growth
Full-Year 2024: Second Consecutive Year of Double-Digit Growth Exceeded 2024 Outlook +15% growth $805M Adjusted EBITDA, Cash generated(2) Significant cash generated excl. cats(1) +19% growth $456M Adjusted EPS, Returned to Strong capital position and disciplined excl. cats(1) Shareholders(3) c
Slide 5: Assurant's Talent & Culture Drives Value
Investing and Empowering Talent Assurant’s Talent & Delivering Culture Drives Value to Driving Partnerships Clients Innovative with the Solutions World’s Leading Brands © 2025 Assurant, Inc. All rights reserved. Company confidential. 5
Slide 6: Global Lifestyle Highlights
Global Lifestyle Highlights Global Lifestyle 2024 Highlighted By Significant Commercial Success, Adjusted EBITDA ($ millions) Generating Future Momentum Connected Living $792 -2% $773 • Excluding FX and investments, underlying Adjusted EBITDA growth of 9%(2) -1% • Renewed 3 of the top 5 largest U.S.
Slide 7: Global Housing Highlights
Global Housing Global Housing Highlights Adjusted EBITDA, excl. cats(1) ($ millions) $916 Global Housing Adjusted EBITDA, excl. cats(1), +34% Delivered Sustained Outperformance in 2024 $685 Homeowners • Earnings growth supported by robust growth in net premiums, fees and other income of 18% • Contin
Slide 8: 2024 was a Significant Year of Client Momentum and Commercial Success
2024 was a Significant Year of Client Momentum and Commercial Success KEY CLIENT ACCOMPLISHMENTS Connected Global Homeowners Renters Living Automotive Key renewals with Key renewals across 10+ renewals Renewed 2 top 10 PMCs major carrier and distribution channels representing 17+ million cable opera
Slide 9: Our Businesses are United by our Powerful Business Model
Our Businesses are United by our Powerful Business Model 1 B2B2C 2 Leadership 3 Transparent 4 Services are the 5 Deeply Distribution Positions in Partnerships Foundation of our Integrated Strategy Attractive Markets Built on Trust Customized Solutions Technology Deep partnerships We have significant
Slide 10: Track Record of Strong Earnings and EPS Growth with Robust Cash Generation
Track Record of Strong Earnings and EPS Growth with Robust Cash Generation Earnings EPS Cash Adj. EBITDA, excl. cats(1) Adj. EPS, excl. cats(1) +12% +18% ($ millions) 5-year 5-year CAGR CAGR $1,369 $1,569 $17.13 $20.35 ~$4.5 Billion $1,008 $1,122 $1,128 total segment $903 $12.28 $13.61 $8.95 $10.49
Slide 11: Assurant Continues to Outperform the Broader P&C Market
Assurant Continues to Outperform the Broader P&C Market Assurant vs. P&C Market Comparison(1,2) FY’ 2019 – TTM Q3’ 2024 14% 18% Adj. earnings, Adj. EPS, excl. excl. cats (1) 12% cats (1) 14% Adj. earnings, 11% 15% Adj. EPS, incl. incl. cats (1) cats (1) 10% 12% AIZ P&C Market AIZ P&C Market (1) Excl
Slide 12: Assurant represents an attractive investment with meaningful upside
Assurant represents an attractive investment with meaningful upside at a compelling valuation Powerful Track Record Strong Growth with Business Model of Winning Less Volatility Track record of strong earnings Focus on B2B2C Long-tenured client base 8 consecutive years of and EPS growth distribution,
Slide 13: Leveraging Significant Momentum with a Focus on Execution
Leveraging Significant Momentum with a Focus on Execution 2025 Priorities Drivers Supporting our Momentum #1 Solidified several major client relationships in Execute & optimize across our 2024, allowing us to focus more energy on driving businesses, including new growth launches from 2024 Strong
Slide 14: Enterprise Q4'24 Financial Highlights
Enterprise Q4’24 Financial Highlights Adjusted EBITDA, excl. cats(1) ($ millions) +13% $432 $382 Growth Strong Adjusted EBITDA and Adjusted EPS Growth, both excl. cats(1) • Significant growth in Global Housing, up 32% • Strong capital return to shareholders, including buybacks and common stock divid
Slide 15: Significant Cash Generation & Balanced Capital Allocation
Significant Cash Generation & Balanced Capital Allocation Drive Shareholder Value Organic Strong Significant Cash Share Common Stock Investments Balance Sheet Generation(1) Repurchases Dividends and M&A & Ratings 2024 Segment • Repurchased $300M • Increased dividend in Investments Maintain Debt Divi
Slide 16: Assurant Recognized as a Dividend Aristocrat by S&P
Assurant Recognized as a Dividend Aristocrat by S&P Assurant Common Stock Dividends 2004-2024 Assurant Recently Recognized as $3.50 a High Yield Dividend Aristocrat $3.00 $2.96 20 consecutive years of dividend $2.50 increases through various macro environments $2.00 Delivered consistent dividend
Slide 17: Q4'24 Segment Financial Highlights
Global Lifestyle Adjusted EBITDA ($ millions) Q4’24 Segment Financial Highlights $205 -6% $192 Q4 2024 Global Lifestyle Highlights 82 -5% • Adjusted EBITDA down 6%, or 5% on a constant currency basis(1) constant 72 − Connected Living Adjusted EBITDA down 1% on a constant currency(1) currency basis(1
Slide 18: 2025 Enterprise Outlook
2025 Enterprise Outlook 2025 Enterprise Outlook: Adj. EBITDA excl. cats 2024 Results 2025 2025 Ex. PYD in Outlook(1) ex. 2024 PYD(1)(2) 1,569 2024, high- single-digit 107 growth Adjusted EBITDA High-single-digit $1.569B Modest growth excl. cats(1) growth 1,462 2024 2025 Outlook Adjusted EPS excl. Hi
Slide 19: Assurant represents an attractive investment with meaningful upside
Assurant represents an attractive investment with meaningful upside at a compelling valuation Powerful Track Record Strong Growth with Business Model of Winning Less Volatility Track record of strong earnings Focus on B2B2C Long-tenured client base 8 consecutive years of and EPS growth distribution,
Slide 20: Appendix
aw) ASSURANT® Appendix
Slide 21: Investor Relations Contacts
Rebekah Biondo Sean Moshier Deputy Chief Financial Officer Head of Investor Relations Matt Cafarchio Mike Robinson Investor Relations Director Investor Relations Sr. Analyst Questions? Contact: investor.relations@assurant.com © 2025 Assurant, Inc. All rights reserved. Company confidential. 21
Slide 22: 2025 Outlook: Adjusted EBITDA to Adjusted Earnings Walk
2025 Outlook: Adjusted EBITDA to Adjusted Earnings Walk 2024 2025 Actuals Outlook (1) Adjusted EBITDA, excl. cats (millions) $1,569 Modest growth (-) Depreciation Expense $(139) ~$(165) (-) Interest Expense $(107) ~$(107) (-) Taxes $(253) ~20-22% (1) Adjusted Earnings, excl. cats (millions) $1,070 W
Slide 23: B2B2C Model Aligned with Leaders and Long-term Winners
B2B2C Model Aligned with Leaders and Long-term Winners 20+ year High client retention partnerships across all LOBs Net earned Connected Renters & Auto Other Homeowners premiums, Living fees and other income(1) $4.8B $4.2B $0.5B $2.0B • Mobile carriers • Auto dealers • Property managers • Banks • Cab
Slide 24: Exhibit 1: Safe Harbor Statement
Exhibit 1: Safe Harbor Statement Some of the statements in this presentation, including our business and financial plans and any statements regarding our anticipated future financial performance, business prospects, growth, operating strategies, valuation and similar matters, such as performance out
Slide 25: Exhibit 2: Non-GAAP Financial Measures
Exhibit 2: Non-GAAP Financial Measures Assurant uses the following non-GAAP financial measures to analyze the company’s operating performance. Assurant’s non-GAAP financial measures should not be considered in isolation or as a substitute for GAAP financial measures. Because Assurant’s calculation o
Slide 26: Exhibit 2: Non-GAAP Financial Measures
Exhibit 2: Non-GAAP Financial Measures (UNAUDITED) Twelve Months ($ in millions) 2024 2023 2022 2021 2020 GAAP net income from continuing operations $ 760.2 $ 642.5 $ 276.6 $ 602.9 $ 519.4 Less: Interest expense 107.0 108.0 108.3 111.8 104.5 Provision for income taxes 167.1 164.3 73.3 168.4 58.7 Dep
Slide 27: Exhibit 2: Non-GAAP Financial Measures (Continued)
Exhibit 2: Non-GAAP Financial Measures (Continued) (UNAUDITED) 4Q Twelve Months ($ in millions) 2024 2023 2024 2023 GAAP Global Housing Adjusted EBITDA $ 225.4 $ 186.1 $ 671.2 $ 574.2 Reportable catastrophes, pre-tax 50.0 21.9 245.2 111.0 Global Housing Adjusted EBITDA, excluding reportable catastro
Slide 28: Exhibit 2: Non-GAAP Financial Measures (Continued)
Exhibit 2: Non-GAAP Financial Measures (Continued) Adjusted Earnings per Diluted Share: Assurant uses Adjusted earnings per diluted share as an important measure (UNAUDITED) 4Q Twelve Months of the company’s stockholder value. Assurant defines ($ in millions) 2024 2023 2024 2023 Adjusted earnings pe
Slide 29: Exhibit 2: Non-GAAP Financial Measures (Continued)
Exhibit 2: Non-GAAP Financial Measures (Continued) (UNAUDITED) 4Q Twelve Months 2024 2023 2024 2023 GAAP net income per diluted share $ 3.87 $ 3.42 $ 14.46 $ 11.95 Adjustments per diluted share, pre-tax: Net realized losses (gains) on investments and fair value 0.56 0.36 1.44 1.28 changes to equity
Slide 30: Exhibit 2: Non-GAAP Financial Measures (Continued)
Exhibit 2: Non-GAAP Financial Measures (Continued) (UNAUDITED) Twelve Months ($ in millions) 2024 2023 2022 2021 2020 GAAP net income from continuing operations $ 760.2 $ 642.5 $ 276.6 $ 602.9 $ 519.4 Adjustments, pre-tax: Net realized losses (gains) on investments and fair value changes to equity s
Slide 31: Exhibit 2: Non-GAAP Financial Measures (Continued)
Exhibit 2: Non-GAAP Financial Measures (Continued) (UNAUDITED) Twelve Months 2024 2023 2022 2021 2020 GAAP net income from continuing operations per diluted share $ 14.46 $ 11.95 $ 5.05 $ 10.03 $ 8.21 Adjustments per diluted share, pre-tax: Net realized losses (gains) on investments and fair value c
Slide 32: Exhibit 2: Non-GAAP Financial Measures (Continued)
Exhibit 2: Non-GAAP Financial Measures (Continued) Global Housing Non-Catastrophe Loss Ratio: Assurant uses the Global Housing non-catastrophe loss ratio as an important measure of the segment's operating performance. Assurant defines the Global Housing non-catastrophe loss ratio as segment policyho
Slide 33: Exhibit 2: Non-GAAP Financial Measures (Continued)
Exhibit 2: Non-GAAP Financial Measures (Continued) The company outlook for Adjusted earnings, excluding reportable catastrophes, per diluted share and, for Assurant and Global Housing, Adjusted EBITDA, excluding reportable catastrophes, each constitute forward-looking non-GAAP financial measures and
Slide 34: Exhibit 3: Regulatory Requirements
Exhibit 3: Regulatory Requirements Assurant, Inc. is an insurance holding company, with insurance subsidiaries domiciled in a number of states in the U.S. and international jurisdictions. The ownership of our stock is subject to certain state and foreign insurance law requirements. Those are typical
Slide 35: Exhibit 4: Data Sources
Exhibit 4: Data Sources Global Lifestyle 7 of the top 10 global Source: Telecoms 150 2024 Ranking by Brand Finance telecommunications brands 4 of the top 5 dealer groups Source: Autonews Top 150 (2024), internal management estimates Global Housing 4 of the top 5 largest multifamily Source: 2024 NMHC
Slide 36: Exhibit 5: Peer Earnings Definition from S&P Capital IQ Market Intelligence
Exhibit 5: Peer Earnings Definition from S&P Capital IQ Market Intelligence AIZ Metric Peer Earnings Metric Definition Source Adjusted earnings Operating income after taxes: Net income after taxes, less the net SNL (S&P Capital IQ Market income attributable to noncontrolling interest, after-tax real