Key Highlights

  • Adjusted Earnings per diluted share excluding reportable catastrophes rose 12% to USD 6.46 from USD 5.76, while GAAP Net Income per share rose 6% to USD 5.49.
  • Assurant (NYSE:AIZ) now expects 2026 adjusted EBITDA excluding reportable catastrophes to grow about 10% and adjusted EPS excluding catastrophes to grow by low double digits.
  • Global Lifestyle adjusted EBITDA rose 15% to USD 236.9 million, led by 23% earnings growth in Connected Living, on net earned premiums, fees and other income up 11%.
  • Expected 2026 share repurchases are now USD 350 million, and USD 469 million remained under the repurchase authorization as of October 31, 2026.

Third Quarter Earnings and the Outlook Increase

Assurant (NYSE:AIZ) announced third quarter results on November 3, 2026. GAAP net income increased 4% to USD 275.2 million from USD 265.6 million, and GAAP net income per diluted share rose 6% to USD 5.49 from USD 5.17. Adjusted EBITDA rose 8% to USD 464.4 million, or 12% to USD 484.1 million excluding reportable catastrophes. Adjusted EPS excluding catastrophes rose 12% to USD 6.46, while adjusted EPS including them rose 7% to USD 6.15. The company raised its 2026 outlook and said it expects a record year and a tenth consecutive year of profitable growth.

Connected Living and Lower Claims Frequency Drive Segment Growth

Global Lifestyle adjusted EBITDA rose 15% to USD 236.9 million, driven by 23% growth in Connected Living from mobile Supply chain volumes, device protection programs and financial services. Global Automotive was slightly above last year; excluding a USD 6.1 million non-run-rate benefit in the prior year it rose 9% on better loss experience. Global Housing adjusted EBITDA rose 5% to USD 268.3 million, and 11% to USD 288.0 million excluding reportable catastrophes, which were USD 19.7 million against USD 2.9 million. The company credited lower claims frequency and lower catastrophe Reinsurance costs. Net earned premiums, fees and other income across the two segments totaled USD 3.41 billion, up 10%.

Reserve Releases, Corporate Costs and the Fine Print on Guidance

The outlook has caveats. It does not assume prior year reserve development in the fourth quarter, and Global Housing had USD 20.6 million of favorable non-catastrophe development in the quarter against USD 28.5 million a year earlier. Excluding the USD 52 million of lower favorable development in Housing, the company frames 2026 growth as low-to-mid teens for adjusted EBITDA and mid teens for adjusted EPS. The Corporate and Other loss is now expected near USD 150 million on higher employee costs and Home Warranty investment. Holding Company Liquidity was USD 954 million, USD 729 million above the minimum of USD 225 million. Risks include client concentration, competition from artificial intelligence and Tariff and supply chain pressure. The call is set for November 4, 2026 at 8:00 a.m. ET.

Where Things Stand

Management lifted the outlook because nine-month results were running well ahead of last year and the third quarter extended that trend. Assurant (NYSE:AIZ) reported nine-month adjusted EPS excluding catastrophes of USD 19.36 against USD 17.08, and Global Lifestyle is now expected to grow adjusted EBITDA in the mid-to-high teens. The raised guidance excludes catastrophes and assumes no further reserve releases, so storm losses and claims trends can still move reported results. Investors will also look to the November 4, 2026 call for detail on Connected Living partner volumes and the pace of repurchases.