Assurant said third-quarter adjusted EBITDA excluding reportable catastrophes rose 12% to $484 million, compared with $434 million a year earlier. Adjusted earnings per share also increased 12%, reaching $6.46 from $5.76 in the third quarter of 2025. Revenue was $3.53 billion.
The company raised its 2026 outlook, projecting approximately 10% growth in adjusted EBITDA excluding catastrophes and low double-digit growth in adjusted earnings per share. Excluding the effect of prior-year reserve development, Assurant expects low-to-mid-teens EBITDA growth and mid-teens EPS growth.
Global Lifestyle was a key contributor to performance. Its year-to-date adjusted EBITDA through September increased 18% to $718 million. Connected Living earnings grew 23%, supported by expansion with existing clients and mobile protection programs. Global Automotive reported 10% year-to-date earnings growth, which Assurant attributed to improved loss experience and expanded partnerships.
Global Housing’s year-to-date adjusted EBITDA excluding catastrophes rose 8% to $836 million. The segment also onboarded about 2.6 million loans through a partnership with a U.S. mortgage servicer. Its combined ratio for the first nine months was 72%, or 74% excluding $61 million in favorable prior-year reserve development.
Assurant generated $599 million in cash year to date and returned $411 million to shareholders through September 30. That included $119 million in the third quarter: $75 million in share repurchases and $44 million in dividends. The company also repurchased $30 million of shares between October 1 and October 31, and raised its 2026 buyback guidance to $350 million.
For the full year, Assurant expects Global Lifestyle adjusted EBITDA to rise in the mid-to-high teens, while Global Housing is projected to grow at a mid-single-digit rate. The company said its outlook includes approximately $150 million in corporate losses and does not assume prior-year reserve development in the fourth quarter.
Sources: Investing.com News.