1Q26 Earnings: Better-Than-Expected First Quarter Result

Research evidence excerpt

1Q26 Earnings: Better-Than-Expected First Quarter Result

esults reinforced our core thesis. Assurant had another 52-Week High / Low US$246.31 / US$183.39

Avg Daily Vol (000) 426 quarter deepening partnerships and the company's position in the market. In this

Div Yield 1.47%

quarter AIZ had strong growth in device serviced, now protecting 69 million devices Total Assets ($mil) 35,769

globally. The 4 announcements including, new business and renewals, helps to build ROE 20.27%

strong momentum gross distribution channels and creates potential for future M&A. On ROTE 36.53%

the 4 new mobile announcements in Global Lifestyle, the extension of the T-Mobile Shares Out (mil) 49.8

partnership to a renewal and in-force block migration, the expansion of Xfinity mobile Div (ann) US$3.52

and Verizon and the new reverse logic engagement. Global Automotive is expected Institutional Ownership 98.8%

to experience favorable loss trends to continue in 2026. Management raised 2026 Insider Ownership 0.7%

repurchase guidance, which suggests the continuation of the elevated FCF conversion Fiscal Year End Dec

that has emerged. Home Warranty, while still in the early stages, AIZ has been able Price Performance - 1 Year

to work with Compass to try and drive a positive customer experience. We believe the

Home Warranty business opens the opportunity for additional partnerships long-term. USD 250

• We are lowering our EPS estimates. We are lowering our 2026E slightly to $21.10 230

from $21.40. We are lowering our 2027E to $22.35 from $22.90. 220

RISKS TO ACHIEVEMENT OF PT & RECOMMENDATION 210

Risks include catastrophe losses, reinsurance, B2B2C distribution & growth deceleration. 200

COMPANY DESCRIPTION 180

AIZ provides lifestyle & housing products to support, protect & connect consumers. 170