Assurant shares rise 4.2% after Q3 profit tops estimates

Assurant shares rose 4.2% in regular trading as of 9:41 a.m. ET on Nov. 4, from a regular-session close of $296.13.

Assurant (AIZ) said on Nov. 3 in a regulatory filing that adjusted earnings for the third quarter of 2026 were $6.15 per diluted share, topping the $4.79 consensus estimate. Revenue was $3.53 billion, in line with the $3.51 billion estimate.

The company reported results for the quarter ended Sept. 30, 2026, and raised its full-year outlook.

Here's how the company did:

• Adjusted EPS: $6.15 vs. $5.73 a year earlier, $4.79 expected
• Revenue: $3.53 billion vs. $3.23 billion a year earlier, $3.51 billion expected
• GAAP net income: $275.2 million vs. $265.6 million a year earlier
• Adjusted EBITDA: $464.4 million vs. $431.5 million a year earlier

Excluding reportable catastrophes, adjusted earnings per diluted share were $6.46, up 12% from $5.76 a year earlier. Adjusted EBITDA excluding reportable catastrophes was $484.1 million, up 12% from $433.5 million.

Revenue has risen in each of the last three quarters, from $3.23 billion to $3.45 billion, according to its SEC filings.

"Given our strong performance and broad-based earnings growth across Assurant, we are increasing our 2026 enterprise outlook," President and CEO Keith Demmings said.

Segment results

Global Lifestyle adjusted EBITDA rose 15% to $236.9 million. The company said earnings growth within Connected Living was 23%, reflecting mobile growth across global supply chain and device protection programs.

Global Housing adjusted EBITDA rose 5% to $268.3 million. Reportable catastrophes cost $19.7 million, up from $2.0 million a year earlier. Excluding catastrophes, Global Housing adjusted EBITDA rose 11%.

The Corporate and Other loss widened to $40.8 million from $31.6 million, mainly from higher employee-related expenses and investments to support its Home Warranty business.

2026 guidance

Assurant now expects adjusted EBITDA excluding reportable catastrophes to increase about 10%. It expects adjusted earnings per diluted share excluding reportable catastrophes to increase low double digits.

The company expects Global Lifestyle adjusted EBITDA to increase mid-to-high teens and Global Housing adjusted EBITDA excluding catastrophes to increase mid single digits. It expects the Corporate and Other loss to approximate $150 million.

Capital returns

Holding company liquidity totaled $954 million as of Sept. 30, or $729 million above the company's minimum level of $225 million. In the third quarter, Assurant repurchased about 268 thousand shares for $75 million and paid $44 million in common stock dividends.

From Oct. 1 through Oct. 31, the company repurchased about 108 thousand shares for $30 million. As of Oct. 31, $469 million remained under the current repurchase authorization.

The company now expects share repurchases of $350 million in 2026. Demmings said the company is preserving flexibility to invest in attractive growth opportunities.

The company will hold its third-quarter earnings call and webcast on Nov. 4 at 8:00 a.m. ET.