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Mar 31, 2025
Assurant Q1 2025 Earnings Report
Reported lower earnings driven by catastrophe losses, but delivered growth in key segments.
Key Takeaways
Assurant posted a net income of $146.6 million and revenue of $3.07 billion in Q1 2025. Performance was impacted by a significant rise in reportable catastrophes, particularly affecting the Global Housing segment. However, the company achieved underlying growth in both Global Lifestyle and Global Housing, excluding catastrophe effects.
Net income declined 38% to $146.6 million due to $157 million in reportable catastrophes.
Adjusted earnings per share fell to $3.39, but rose to $5.79 excluding catastrophe losses.
Revenue rose to $3.07 billion, supported by growth in both Global Lifestyle and Global Housing.
Holding company liquidity remained strong at $501 million, exceeding the $225 million target.
Forward Guidance
Assurant reaffirmed its 2025 outlook, expecting modest growth in adjusted EBITDA and EPS excluding catastrophe impacts.
Positive Outlook
- Adjusted EBITDA excluding catastrophes expected to grow modestly.
- Global Lifestyle to benefit from continued growth in Connected Living and Global Automotive.
- Global Housing expected to see increased adjusted EBITDA excluding catastrophes.
- Continued focus on investment in people, technology, and solutions.
- Share repurchases and dividend distributions to continue under current authorization.
Challenges Ahead
- High catastrophe-related losses in Q1 may remain a volatility factor.
- Continued macroeconomic uncertainty could impact claims and consumer demand.
- Expectations of $160 million in depreciation expenses may weigh on margins.
- Interest expenses projected at approximately $107 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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