Assurant

“Our competitive position may be impacted if we are unable to develop, use or integrate, in an effective, compliant and competitive manner, technology such as AI and machine learning, or if our competitors collect and use data that we do not have the ability to access or use. AI technologies may fail, underperform expectations or disrupt business operations, and there can be no assurance that our use of AI will enhance our products or services, or be beneficial to our business.”

Annual report 2025A · The company itself

“In addition, across many of our businesses, we must respond to the threat of disruption by traditional players, such as insurers, from new entrants, such as “Insurtech” companies, and from their use of technologies such as AI. These players are focused on using technology and innovation to simplify and improve the customer experience, increase efficiencies, alter business models and effect other potentially disruptive changes in the markets in which we operate.”

Annual report 2025A · The company itself

“Like many companies, we are subject to regular phishing email and social media engineering campaigns directed at our employees that have become more sophisticated, highly personalized and ultimately more successful, partly through the use of AI, and can result in significant financial and data losses.”

Annual report 2025A · The company itself

“For example, privacy and data-protection regimes increasingly regulate profiling and automated decision-making, which may require opt-outs, human review or impact assessments, and could delay or limit the deployment of analytics and AI in our business operations.”

Annual report 2025A · The company itself

“For example, our ability to continue to develop, use and efficiently deploy AI technologies depends on access to specific third-party equipment and services.”

Annual report 2025A · The company itself

“We leverage those insights to invest in emerging technologies and operations, including digital capabilities supported by artificial intelligence (“AI”), to introduce innovative products and services and continuously adapt those offerings to the changing needs of consumers. Investments and innovation enable services that complement our protection and specialty insurance products, creating customized solutions for clients and customers.”

Annual report 2025A · The company itself

“We continue to invest in technology, including digital, robotics and AI, and seek to integrate technology platforms with our clients, to create superior customer experiences.”

Annual report 2025A · The company itself

“These services support both our insurance and non-insurance customers and are powered by our AI-driven dynamic fulfillment platform. We have repair operations within our device care centers, including our Nashville Innovation and Device Care Center, which leverages automation, robotics and AI.”

Annual report 2025A · The company itself

“In 2025, we continued to implement key initiatives to support upskilling, with an increased emphasis on accelerating adoption of digital and AI-enabled technologies and processes as we expand the use of AI as an enabler to enhance employee and customer experiences.”

Annual report 2025A · The company itself

“We are investing in technology and digital capabilities, including AI and our Innovation and Device Care Center, and in our home warranty business.”

Annual report 2025A · The company itself

“We continue to upgrade and implement new information technology systems and infrastructure involving several enterprise-wide technology initiatives, including AI, to support our strategy and keep pace with continuing changes in information processing technology and evolving industry and regulatory requirements.”

Annual report 2025A · The company itself

“Consumer needs relating to mobile devices are continuing to expand in scope. We believe there are growth opportunities in bundled protection products, which support customers as they take full advantage of the features and functions of their mobile devices through their daily interaction. Expanded capabilities like repair and logistics, technical support for customers and enhanced customer experience through digital solutions and AI allow us to create product and service offerings that customers find compelling.”

Annual report 2025A · The company itself

“In addition, across many of our businesses, we must respond to the threat of disruption by traditional players, such as insurers, from new entrants, such as “Insurtech” companies, and from their use of technologies such as AI. These players are focused on using technology and innovation to simplify and improve the customer experience, increase efficiencies, alter business models and effect other potentially disruptive changes in the markets in which we operate.”

Annual report 2025A · The company itself

“We leverage those insights to invest in emerging technologies and operations, including digital capabilities supported by artificial intelligence (“AI”), to introduce innovative products and services and continuously adapt those offerings to the changing needs of consumers. Investments and innovation enable services that complement our protection and specialty insurance products, creating customized solutions for clients and customers.”

Annual report 2025A · The company itself

“Value chain and technology integration and customer experience. We own or manage multiple pieces of the value chain, which enables us to create products and service offerings based on client and consumer needs and provide a seamless customer experience. Offering end-to-end solutions allows us to provide additional value for consumers and adapt more quickly and efficiently to their needs.”

Annual report 2025A · The company itself

“We continue to invest in technology, including digital, robotics and AI, and seek to integrate technology platforms with our clients, to create superior customer experiences.”

Annual report 2025A · The company itself

“In 2025, we continued to implement key initiatives to support upskilling, with an increased emphasis on accelerating adoption of digital and AI-enabled technologies and processes as we expand the use of AI as an enabler to enhance employee and customer experiences.”

Annual report 2025A · The company itself

“We are investing in technology and digital capabilities, including AI and our Innovation and Device Care Center, and in our home warranty business.”

Annual report 2025A · The company itself

“The success of our business depends on our ability to maintain effective, secure and reliable technology systems and infrastructure and to modernize them to support current and new clients and grow in an efficient and cost-effective manner. Some of the Company’s technology systems and software are legacy-type systems that are less efficient and require an ongoing commitment of significant resources to maintain or upgrade to current standards, including business continuity procedures.”

Annual report 2025A · The company itself

“We believe that our future success depends in substantial part on our ability to attract, recruit, motivate, develop and retain a high-performing workforce, including those with specialized industry knowledge or within critical or in-demand areas. Doing so may be difficult due to many factors, including fluctuations in economic and industry conditions; employee expectations; the effectiveness of our talent strategies and total rewards and wellbeing programs; and fluctuations in the labor market, including rising wages and competition for talent.”

Annual report 2025A · The company itself

“Losses are impacted by increases in inflation and supply chain disruptions that have increased and may continue to increase the cost of materials and labor required to settle claims, particularly in our Global Housing and Global Automotive businesses.”

Annual report 2025A · The company itself

“General inflationary pressures and supply chain disruptions, including within the current environment, has and may continue to increase the costs of paying claims, including for materials and labor, particularly in our Global Housing and Global Automotive businesses.”

Annual report 2025A · The company itself

“In addition, across many of our businesses, we must respond to competitive pressures, including the threat of disruption and competition for talent.”

Annual report 2025A · The company itself

“As of December 31, 2025, Assurant had approximately 14,800 employees, representing more than 80 nationalities, with a presence in 21 markets globally.”

Annual report 2025A · The company itself

“Succession Planning An important element of our talent strategy is succession planning and building leadership pipelines for our most critical roles across the organization. We assess the performance and potential of current incumbents, identify and assess potential successors, and create targeted development plans to strengthen the preparedness of our talent pipeline.”

Annual report 2025A · The company itself

“In mobile, subscriber growth remained strong, supported by the expansion of device protection programs globally, and we deepened key carrier relationships, including by signing a new agreement with a large U.S. mobile carrier.”

Annual report 2025A · The company itself

“Global Lifestyle is dependent on a few clients, in particular those in the mobile eco-system including carriers and MSOs. A reduction in business with or the loss of one or more such clients could have a material adverse effect on our results of operations and cash flows.”

Annual report 2025A · The company itself

“In Connected Living, we partner with the mobile eco-system (including carriers, retailers, OEMs and cable MSOs) and financial and other institutions to market our mobile device solutions, with some of the largest OEMs, consumer electronics retailers, appliance retailers (including e-commerce retailers) and cable operators to market our extended service contracts and related services, and with financial institutions, insurers and retailers to market our credit and other insurance products.”

Annual report 2025A · The company itself

“In the majority of cases, we use proprietary insurance-tracking administration systems linked with the administrative systems of our clients to monitor clients’ mortgage portfolios to verify the existence of insurance on each mortgaged property and identify those that are uninsured. If there is a potential lapse in insurance coverage, we begin a process of outreach and notification to the homeowner and the last known insurance carrier or agent through phone calls, written correspondence and in some cases, direct interfaces with insurance carriers, which generally takes up to 90 days to complete. If coverage cannot be verified at the end of this process, the mortgage servicer procures a lender-placed policy.”

Annual report 2025A · The company itself

“Our Addressable Markets and Market Activity In the lender-placed market, placement rates have increased in certain areas, due to reduced availability within the voluntary homeowners’ insurance market, including in California and Texas.”

Annual report 2025A · The company itself

“In January 2025, we entered into an agreement to sell our Miami, Florida property for a purchase price of $126.0 million, subject to certain adjustments and to the buyer receiving the requisite development approvals. If the transaction is consummated pursuant to the terms of the agreement, we expect to record a gain above the current carrying value of $46.0 million as of December 31, 2025, less estimated costs to sell.”

Annual report 2025A · The company itself

“Through our Global Housing segment, we provide lender-placed homeowners, manufactured housing and flood insurance, as well as voluntary manufactured housing, condominium and homeowners insurance (referred to as “Homeowners”); and renters insurance and other products (referred to as “Renters and Other”).”

Annual report 2025A · The company itself

“Global Housing Years Ended December 31, 2025 2024 2023 Net earned premiums, fees and other income by product: Homeowners $ 2,192.4 $ 1,958.9 $ 1,663.4 Renters and Other 576.4 498.1 479.5 Total $ 2,768.8 $ 2,457.0 $ 2,142.9 Segment Adjusted EBITDA $ 858.7 $ 671.2 $ 574.2 Segment equity (1) $ 1,659.3 $ 1,597.8 $ 1,318.9 (1)Segment equity does not include components of AOCI, which is primarily comprised of net unrealized gains/ losses on securities, net of taxes.”

Annual report 2025A · The company itself

“Distribution and Clients Global Housing establishes long-term relationships with leading mortgage lenders and servicers, manufactured housing lenders, property managers, and financial, insurance and other institutions. Lender-placed insurance products are distributed primarily through mortgage lenders, mortgage servicers and financial and other institutions.”

Annual report 2025A · The company itself

“Renters products are distributed primarily through property management companies and affinity marketing partners.”

Annual report 2025A · The company itself

“In Global Automotive, we continue to expand and protect our position through new and renewed partnerships across distribution channels, including large dealer groups.”

Annual report 2025A · The company itself

“U.S. new vehicle sales have shown modest improvements since 2024, remaining stable despite tariff uncertainty, while affordability challenges continue to steer more buyers toward the used vehicle market. Inventory of used vehicles has recovered slightly from the shortages of 2021-2022, but remains below historical levels, with scarcity of low-mileage vehicles keeping prices elevated.”

Annual report 2025A · The company itself

“Through our Global Lifestyle segment, we provide mobile device solutions, extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products (referred to as “Connected Living”); and vehicle protection services, commercial equipment protection and other related services (referred to as “Global Automotive”).”

Annual report 2025A · The company itself

“Global Lifestyle Years Ended December 31, 2025 2024 2023 Net earned premiums, fees and other income by product: Connected Living (1) $ 5,378.7 $ 4,807.9 $ 4,376.8 Global Automotive 4,203.8 4,159.4 4,184.6 Total $ 9,582.5 $ 8,967.3 $ 8,561.4 Segment Adjusted EBITDA $ 801.3 $ 773.4 $ 792.3 Segment equity (2) $ 5,163.2 $ 4,830.9 $ 4,822.0 (1)For the years ended December 31, 2025, 2024 and 2023, 53.0%, 50.6%, and 44.8%, respectively, of net earned premiums, fees and other income was from mobile device solutions; 34.4%, 38.8%, and 44.7%, respectively, was from extended service contracts and related services for consumer electronics and appliances; and 12.6%, 10.6%, and 10.5%, respectively, was from financial services and other insurance products.”

Annual report 2025A · The company itself

“In Global Automotive, we partner with auto dealers and agents, third-party administrators, manufacturers, equipment retailers and large banks and financing companies to market our vehicle protection, commercial equipment products and other related services.”

Annual report 2025A · The company itself

“Examples of important business arrangements include: in Global Lifestyle, exclusive and non-exclusive relationships with the mobile eco-system (including carriers, retailers, OEMs and cable MSOs), dealerships and agents, consumer electronics retailers, appliance retailers (including e-commerce retailers), commercial equipment manufacturers and dealers, and financial, insurance and other institutions through which we distribute our products and services; and in Global Housing, exclusive and non-exclusive relationships with mortgage lenders and servicers, manufactured housing lenders, property managers, and financial, insurance and other institutions.”

Annual report 2025A · The company itself

“In Connected Living, we partner with the mobile eco-system (including carriers, retailers, OEMs and cable MSOs) and financial and other institutions to market our mobile device solutions, with some of the largest OEMs, consumer electronics retailers, appliance retailers (including e-commerce retailers) and cable operators to market our extended service contracts and related services, and with financial institutions, insurers and retailers to market our credit and other insurance products.”

Annual report 2025A · The company itself

“In Global Automotive, we partner with auto dealers and agents, third-party administrators, manufacturers, equipment retailers and large banks and financing companies to market our vehicle protection, commercial equipment products and other related services.”

Annual report 2025A · The company itself

“Distribution and Clients Global Housing establishes long-term relationships with leading mortgage lenders and servicers, manufactured housing lenders, property managers, and financial, insurance and other institutions. Lender-placed insurance products are distributed primarily through mortgage lenders, mortgage servicers and financial and other institutions.”

Annual report 2025A · The company itself

“Net cash provided by operating activities was $1.83 billion and $1.33 billion for Twelve Months 2025 and Twelve Months 2024, respectively. The change in net operating cash flows was largely attributable to growth in our lender-placed and Connected Living businesses, cash payments related to the assumption of a new block of business in Connected Living and lower outflows for inventory in our mobile business.”

Annual report 2025A · The company itself

“We have from time to time experienced operational resiliency issues, including the unavailability of technology systems upon which our clients rely. Such failures could result in loss of business and adversely affect our financial condition and results of operations.”

Annual report 2025A · The company itself

“We are dependent on vendors and other third parties to maintain reliable and secure network systems that provide adequate speed and data capacity. For example, we utilize third-party cloud service providers in connection with certain key aspects of our business and operations, and any disruption of, or interference with, our use of such cloud services could have a material adverse impact on our business and operations.”

Annual report 2025A · The company itself

“The success of our business depends on our ability to maintain effective, secure and reliable technology systems and infrastructure and to modernize them to support current and new clients and grow in an efficient and cost-effective manner. Some of the Company’s technology systems and software are legacy-type systems that are less efficient and require an ongoing commitment of significant resources to maintain or upgrade to current standards, including business continuity procedures.”

Annual report 2025A · The company itself

“We have also migrated many of our systems and applications to the cloud, which is key to our technology strategy.”

Annual report 2025A · The company itself

“In Connected Living, we partner with the mobile eco-system (including carriers, retailers, OEMs and cable MSOs) and financial and other institutions to market our mobile device solutions, with some of the largest OEMs, consumer electronics retailers, appliance retailers (including e-commerce retailers) and cable operators to market our extended service contracts and related services, and with financial institutions, insurers and retailers to market our credit and other insurance products.”

Annual report 2025A · The company itself

“In Connected Living, we partner with the mobile eco-system (including carriers, retailers, OEMs and cable MSOs) and financial and other institutions to market our mobile device solutions, with some of the largest OEMs, consumer electronics retailers, appliance retailers (including e-commerce retailers) and cable operators to market our extended service contracts and related services, and with financial institutions, insurers and retailers to market our credit and other insurance products.”

Annual report 2025A · The company itself

“In Global Automotive, we partner with auto dealers and agents, third-party administrators, manufacturers, equipment retailers and large banks and financing companies to market our vehicle protection, commercial equipment products and other related services.”

Annual report 2025A · The company itself

“Examples of important business arrangements include: in Global Lifestyle, exclusive and non-exclusive relationships with the mobile eco-system (including carriers, retailers, OEMs and cable MSOs), dealerships and agents, consumer electronics retailers, appliance retailers (including e-commerce retailers), commercial equipment manufacturers and dealers, and financial, insurance and other institutions through which we distribute our products and services; and in Global Housing, exclusive and non-exclusive relationships with mortgage lenders and servicers, manufactured housing lenders, property managers, and financial, insurance and other institutions.”

Annual report 2025A · The company itself

“Consumer needs relating to mobile devices are continuing to expand in scope. We believe there are growth opportunities in bundled protection products, which support customers as they take full advantage of the features and functions of their mobile devices through their daily interaction. Expanded capabilities like repair and logistics, technical support for customers and enhanced customer experience through digital solutions and AI allow us to create product and service offerings that customers find compelling.”

Annual report 2025A · The company itself

“Seasonality We experience seasonal fluctuations that impact demand in each of our lines of business. For example, seasonality for extended service contracts and VSCs aligns with the seasonality of the retail and automobile markets. In addition, our mobile results may fluctuate quarter to quarter due to the actual and anticipated timing and availability of the release of new devices and carrier promotional programs.”

Annual report 2025A · The company itself

“We are a premier global protection company that partners with the world’s leading brands to safeguard and service connected devices, homes and automobiles.”

Annual report 2025A · The company itself

“We continue to invest in technology, including digital, robotics and AI, and seek to integrate technology platforms with our clients, to create superior customer experiences.”

Annual report 2025A · The company itself

“These services support both our insurance and non-insurance customers and are powered by our AI-driven dynamic fulfillment platform. We have repair operations within our device care centers, including our Nashville Innovation and Device Care Center, which leverages automation, robotics and AI.”

Annual report 2025A · The company itself

“In addition, across many of our businesses, we must respond to competitive pressures, including the threat of disruption and competition for talent.”

Annual report 2025A · The company itself

“We intend to grow our businesses by strengthening our partnerships with major clients and prospects globally, through expanded offerings and attachment with clients and by winning new clients, and by entering into attractive adjacent markets (such as home warranty), while continuing to invest in talent, capabilities and technology to enable us to deliver a superior customer experience.”

Annual report 2025A · The company itself

“With major financial services clients, we provide value-added financial services in the U.S. and internationally, including inclusive credit card benefits, packaged bank account benefits and travel coverage, as well as credit insurance.”

Annual report 2025A · The company itself

“We look for opportunities to embed circularity across our operations and to integrate programs and services into our suite of offerings that embrace circular practices to help our customers live connected lives. This mindset has led us to become an industry leader in the transition from a linear to a circular economy for mobile devices, including our approach to responsible recycling.”

Annual report 2025A · The company itself

“In Connected Living, we partner with the mobile eco-system (including carriers, retailers, OEMs and cable MSOs) and financial and other institutions to market our mobile device solutions, with some of the largest OEMs, consumer electronics retailers, appliance retailers (including e-commerce retailers) and cable operators to market our extended service contracts and related services, and with financial institutions, insurers and retailers to market our credit and other insurance products.”

Annual report 2025A · The company itself

“We are a premier global protection company that partners with the world’s leading brands to safeguard and service connected devices, homes and automobiles.”

Annual report 2025A · The company itself

“These services support both our insurance and non-insurance customers and are powered by our AI-driven dynamic fulfillment platform. We have repair operations within our device care centers, including our Nashville Innovation and Device Care Center, which leverages automation, robotics and AI.”

Annual report 2025A · The company itself

“Lender-placed flood insurance. Lender-placed flood insurance consists of flood insurance offered through our lender-placed program. It provides collateral protection to lenders in mortgaged properties in the event a homeowner does not maintain required flood insurance.”

Annual report 2025A · The company itself

“Because several of our business lines (such as homeowners, manufactured housing and other property policies) are exposed to catastrophe risks, we purchase reinsurance coverage to reduce our financial exposure, protect capital, and mitigate earnings and cash flow volatility. Our reinsurance program generally incorporates a provision to allow for the reinstatement of coverage, which provides protection against the risk of multiple catastrophes in a single year.”

Annual report 2025A · The company itself

“Seasonality We experience seasonal fluctuation in several of our lines of business, which are exposed to the risk of catastrophe and non-catastrophe losses. Catastrophe events such as hurricanes typically occur in the second half of the year.”

Annual report 2025A · The company itself

“Our insurance operations expose us to claims arising from catastrophes and other events, particularly in our homeowners insurance, renters insurance and flood offerings, as well as in certain businesses the Company has fully exited or expects to fully exit. Catastrophes include hurricanes, windstorms, tornados, earthquakes, hailstorms, floods, severe winter weather, wildfires, terrorist incidents and accidents, and may result in reportable catastrophe losses, which are individual catastrophe events that generate losses in excess of $5.0 million, pre-tax, net of reinsurance and client profit sharing adjustments, and including reinstatement and other premiums.”

Annual report 2025A · The company itself

“Changing weather patterns and climate change have increased the unpredictability, frequency and severity of weather-related events, such as wildfires, hurricanes, floods and tornadoes, particularly in coastal areas such as Florida, California and Texas, has in the past and may in the future result in increased claims and higher catastrophe losses, which could have a material adverse effect on our results of operations and financial condition.”

Annual report 2025A · The company itself

“These modeling tools may not be able to anticipate emerging trends or changing marketplace conditions. See “ – 25 Financial Risks – Actual results may differ materially from the analytical models we use to assist in our decision-making in key areas such as pricing, catastrophe risks, reserving and capital management.””

Annual report 2025A · The company itself

“Because Global Housing’s lender-placed homeowners and lender-placed manufactured housing insurance products are designed to automatically provide property coverage for client portfolios, our exposure to certain catastrophe-prone locations, such as Florida, California and Texas, may increase.”

Annual report 2025A · The company itself

“Climate change may make it more difficult to predict and model catastrophes, reducing our ability to accurately price our exposure to such events and mitigate risks, particularly in our Global Housing business.”

Annual report 2025A · The company itself

“The availability and cost of reinsurance are subject to prevailing reinsurance market conditions, which have been, and in the future may continue to be, adversely impacted by: the occurrence of significant reinsured events, including catastrophes; expectations regarding increased occurrences of such events due to climate change; and other impacts on reinsurers’ capital, such as increased demand for coverage driven by inflation, a volatile investment market or litigation costs.”

Annual report 2025A · The company itself

“Critical Factors Affecting Results Our results depend on, among other things, the appropriateness of our product pricing, underwriting, the accuracy of our reserving methodology for future policyholder benefits and claims, the frequency and severity of reportable and non-reportable catastrophes, returns on and values of invested assets, our investment income, and our ability to enhance operational efficiencies and manage our expenses.”

Annual report 2025A · The company itself

“U.S. new vehicle sales have shown modest improvements since 2024, remaining stable despite tariff uncertainty, while affordability challenges continue to steer more buyers toward the used vehicle market. Inventory of used vehicles has recovered slightly from the shortages of 2021-2022, but remains below historical levels, with scarcity of low-mileage vehicles keeping prices elevated.”

Annual report 2025A · The company itself

“While interest rates and credit volatility are beginning to ease, inflation on parts and labor underscores the mixed macroeconomic environment.”

Annual report 2025A · The company itself

“However, the value of certain inventory could be adversely impacted by technological changes affecting the usefulness or desirability of the devices and parts, physical problems resulting from faulty design or manufacturing, increased competition, decreased consumer demand, including due to changes in customer preferences, changes in client promotions and seasonality, changes in client forecasts and demand, supply chain constraints and our ability to manage inventory, growing industry emphasis on cost containment and adverse foreign trade relationships.”

Annual report 2025A · The company itself

“Should the housing market deteriorate for a prolonged period, we could experience a longer-term increase in our placement rates over time. In addition to the overall market, our lender-placed results are also impacted by inflation and the costs of paying claims, and the mix of loans we service.”

Annual report 2025A · The company itself

“Losses are impacted by increases in the cost of materials and labor required to settle claims.”

Annual report 2025A · The company itself

“Losses are impacted by increases in inflation and supply chain disruptions that have increased and may continue to increase the cost of materials and labor required to settle claims, particularly in our Global Housing and Global Automotive businesses.”

Annual report 2025A · The company itself

“General inflationary pressures and supply chain disruptions, including within the current environment, has and may continue to increase the costs of paying claims, including for materials and labor, particularly in our Global Housing and Global Automotive businesses.”

Annual report 2025A · The company itself

“Our profitability could be reduced if we are unable to accurately predict and price for claims and other costs, including the frequency and severity of property and other claims. This ability could be affected by various factors, including macroeconomic conditions; inflation; changes in the regulatory environment; changes in industry practices; changes in legal, social or environmental conditions; impacts from operational changes; new products; and new technologies or domestic or global supply chain or labor issues.”

Annual report 2025A · The company itself

“Factors affecting these items, including conditions in the financial markets, the global economy, political conditions and the markets in which we operate, fluctuations in exchange rates, interest rates and inflation, and tariffs and global supply chain disruptions may have a material adverse effect on our results of operations or financial condition.”

Annual report 2025A · The company itself

“Variability in insurance claims, including changes in frequency and severity, and the impact of inflation, also contribute to fluctuations in our business performance.”

Annual report 2025A · The company itself

“If we experience a business continuity event, such as an earthquake, hurricane, flood, terrorist incident, military conflict, pandemic, security breach, cybersecurity incident, power loss, telecommunications outage or other systems failure, or other disaster, our ability to continue operations will depend on an effective business continuity and disaster recovery plan, including the safety and continued availability of our personnel, including key executives, vendors and other third parties, and the proper functioning of our telecommunications and other systems and operations, including our device care centers and other facilities. An extended period of such conditions may strain our business continuity and disaster recovery plan, introduce additional operational risk, including cybersecurity and fraud risks, negatively impact employee morale, result in negative publicity, reputational harm and the loss of profitability and clients.”

Annual report 2025A · The company itself

“We rely on the uninterrupted and secure operation of our technology systems, including information technology systems and operational technology systems, and those of our vendors to operate our business and securely process, transmit and store electronic information. This electronic information includes confidential and other sensitive information, including personal data, that we receive from our customers, vendors and other third parties. Our technology systems and safety control systems and those of our vendors and other third parties with whom we share sensitive information are vulnerable to, and in some cases have been subject to, damage or interruption from a variety of external threats, including cybersecurity incidents, such as advanced ransomware, credential compromises, vulnerability exploitation including zero-day exploits, distributed denial of service attacks, hardware misconfigurations, phishing and advanced social engineering, which have been increasing in frequency and complexity.”

Annual report 2025A · The company itself

“Our technology systems must be continually patched, hardened and upgraded to protect against vulnerabilities, including zero-day threats, and cyber attackers have, and may continue to, exploit these vulnerabilities before they have been addressed. Due to the large number and age of the systems and platforms that we operate and the increased frequency with which vendors issue security patches to their products, as well as the need to test patches and, in some cases coordinate with clients and vendors, before they can be deployed, we are at risk that we cannot deploy these patches to remediate these vulnerabilities in a timely and effective manner.”

Annual report 2025A · The company itself

“From time to time, we have experienced cybersecurity incidents involving a vendor or other third party, which resulted in a breakdown of such third party’s data protection measures or access to our infrastructure through the third party. To the extent that a vendor or third party suffers a cybersecurity incident that compromises their operations, our data and our customers’ data could be compromised or we may experience significant service interruption.”

Annual report 2025A · The company itself

“For instance, we may not adequately identify weaknesses in an acquired entity’s technology systems, either before or after the acquisition, which could affect the value we are able to derive from the acquisition, expose us to unexpected liabilities or make our own systems more vulnerable to a cybersecurity incident. We may be unable to integrate the systems of the businesses we acquire into our environment in a timely manner, which could further increase these risks until such integration takes place.”

Annual report 2025A · The company itself

“Like many companies, we are subject to regular phishing email and social media engineering campaigns directed at our employees that have become more sophisticated, highly personalized and ultimately more successful, partly through the use of AI, and can result in significant financial and data losses.”

Annual report 2025A · The company itself

“Improper access to or disclosure of sensitive client or Company information, which has occurred from time to time, could harm our reputation and subject us to litigation and significant liability under our contracts, as well as under existing or future laws, rules and regulations.”

Annual report 2025A · The company itself

“Risks from Cybersecurity Threats While we have not experienced a cybersecurity incident that resulted in a material adverse effect on our business, operations, financial condition or results of operations, there can be no guarantee that we will not experience such an incident in the future.”

Annual report 2025A · The company itself

“We are dependent on vendors and other third parties to maintain reliable and secure network systems that provide adequate speed and data capacity. For example, we utilize third-party cloud service providers in connection with certain key aspects of our business and operations, and any disruption of, or interference with, our use of such cloud services could have a material adverse impact on our business and operations.”

Annual report 2025A · The company itself

“In the majority of cases, we use proprietary insurance-tracking administration systems linked with the administrative systems of our clients to monitor clients’ mortgage portfolios to verify the existence of insurance on each mortgaged property and identify those that are uninsured. If there is a potential lapse in insurance coverage, we begin a process of outreach and notification to the homeowner and the last known insurance carrier or agent through phone calls, written correspondence and in some cases, direct interfaces with insurance carriers, which generally takes up to 90 days to complete. If coverage cannot be verified at the end of this process, the mortgage servicer procures a lender-placed policy.”

Annual report 2025A · The company itself

“The global capital and credit markets have experienced periods of uncertainty, volatility and disruption, including from geopolitical and macroeconomic tensions, a U.S. government shutdown, the possibility of a default on U.S. debt obligations, changes to U.S. and foreign tax and trade policies, the imposition of tariffs or other trade restrictions, other government actions and foreign currency fluctuations.”

Annual report 2025A · The company itself

“We are subject to interest rate risk in our investment portfolio. Changes in interest rates have, and may continue to, materially adversely affect the performance of some of our investments, including by materially reducing the fair value of and investment income from fixed maturity securities and increasing unrealized losses in our investment portfolio, which can adversely impact our capital.”

Annual report 2025A · The company itself

“As of December 31, 2025, fixed maturity securities represented approximately 85% of our total investments and full year 2025 gross investment income from fixed maturity securities totaled $434.8 million.”

Annual report 2025A · The company itself

“Recent periods have been characterized by substantial volatility in interest rates. A prolonged period during which interest rates remain at high levels may result in greater unrealized losses in our investment portfolio. Conversely, a prolonged period during which interest rates are at lower levels may result in lower-than-expected investment income.”

Annual report 2025A · The company itself

“Factors affecting these items, including conditions in the financial markets, the global economy, political conditions and the markets in which we operate, fluctuations in exchange rates, interest rates and inflation, and tariffs and global supply chain disruptions may have a material adverse effect on our results of operations or financial condition.”

Annual report 2025A · The company itself

“Interest rates are highly sensitive to many factors, including governmental monetary policies, domestic and international economic and political 44 conditions, inflation and other factors beyond our control. Fluctuations in interest rates affect our returns on, and the market value of, fixed maturity and short-term investments.”

Annual report 2025A · The company itself

“Our investment portfolio, including our fixed maturity portfolio, has exposure to interest rate risk. Changes in investment values attributable to interest rate changes are mitigated by corresponding and partially offsetting changes in the economic value of our liabilities. We monitor this exposure through periodic reviews of our asset and liability positions and we manage interest rate risk by selecting investments with characteristics such as duration, yield, currency and liquidity tailored to the anticipated cash outflow characteristics of our insurance and reinsurance liabilities.”

Annual report 2025A · The company itself

“In periods of declining interest rates, mortgage prepayments generally increase and mortgage-backed securities, commercial mortgage obligations and bonds are more likely to be prepaid or redeemed as borrowers seek to borrow at lower interest rates. Therefore, in these circumstances we may be required to reinvest those funds in lower interest-earning investments.”

Annual report 2025A · The company itself

“See “Item 1A – Risk Factors – Business, Strategic and Operational Risks – Our revenues and profits may decline if we are unable to maintain relationships with significant clients, distributors and other parties, or renew contracts with them on favorable terms, or if those parties face financial, reputational or regulatory issues.””

Annual report 2025A · The company itself

“The value and availability of devices may also be impacted by adverse foreign trade relationships and an escalation of U.S.-China and China-Taiwan trade tensions.”

Annual report 2025A · The company itself

“Our sales of mobile devices to third parties, particularly those domiciled outside of the U.S., subject us to compliance costs and increased risk, including risks relating to corruption, sanctions and export control laws and regulations, which may result in fines or other sanctions, and increase the cost of operating the business.”

Annual report 2025A · The company itself

“In addition, there is continued uncertainty concerning potential and recent actions by the current U.S. administration, including increased or new tariffs that may impact the cost of claims and disrupt supply chains.”

Annual report 2025A · The company itself

“The global capital and credit markets have experienced periods of uncertainty, volatility and disruption, including from geopolitical and macroeconomic tensions, a U.S. government shutdown, the possibility of a default on U.S. debt obligations, changes to U.S. and foreign tax and trade policies, the imposition of tariffs or other trade restrictions, other government actions and foreign currency fluctuations.”

Annual report 2025A · The company itself

“Factors affecting these items, including conditions in the financial markets, the global economy, political conditions and the markets in which we operate, fluctuations in exchange rates, interest rates and inflation, and tariffs and global supply chain disruptions may have a material adverse effect on our results of operations or financial condition.”

Annual report 2025A · The company itself

“If we experience a business continuity event, such as an earthquake, hurricane, flood, terrorist incident, military conflict, pandemic, security breach, cybersecurity incident, power loss, telecommunications outage or other systems failure, or other disaster, our ability to continue operations will depend on an effective business continuity and disaster recovery plan, including the safety and continued availability of our personnel, including key executives, vendors and other third parties, and the proper functioning of our telecommunications and other systems and operations, including our device care centers and other facilities. An extended period of such conditions may strain our business continuity and disaster recovery plan, introduce additional operational risk, including cybersecurity and fraud risks, negatively impact employee morale, result in negative publicity, reputational harm and the loss of profitability and clients.”

Annual report 2025A · The company itself

“The risk of business disruption is more pronounced in certain geographic areas across the world, including the cities in which our device care centers, data centers and operations personnel are located; major metropolitan centers, such as Atlanta, where our headquarters is located; and certain catastrophe-prone areas, such as Miami, where we have a significant employee base. This risk is heightened in certain countries and regions in which we operate that are subject to higher potential threat of terrorist incidents, military conflicts, political instability and data breaches.”

Annual report 2025A · The company itself

“As we continue to scale our global operations and grow our international labor force within Global Capability Centers, our business becomes increasingly exposed to these and other risks, including where certain countries or regions have experienced economic or political instability.”

Annual report 2025A · The company itself

“The value and availability of devices may also be impacted by adverse foreign trade relationships and an escalation of U.S.-China and China-Taiwan trade tensions.”

Annual report 2025A · The company itself

“The global capital and credit markets have experienced periods of uncertainty, volatility and disruption, including from geopolitical and macroeconomic tensions, a U.S. government shutdown, the possibility of a default on U.S. debt obligations, changes to U.S. and foreign tax and trade policies, the imposition of tariffs or other trade restrictions, other government actions and foreign currency fluctuations.”

Annual report 2025A · The company itself

“Our domestic and international insurance subsidiaries are subject to extensive regulatory oversight, including: restrictions and requirements related to licensing; capital, surplus and dividends; underwriting limitations; the ability to enter, exit and continue to operate in markets; statutory accounting and other disclosure requirements; the ability to provide, terminate or cancel certain coverages; premium rates, including regulatory ability to disapprove or reduce the premium rates companies may charge; trade and claims practices; product forms, including regulatory ability to disapprove new product filings; content of disclosures to consumers; type, amount and valuation of investments; assessments or other surcharges for guaranty funds and companies’ ability to recover assessments through premium increases; and market conduct and sales practices.”

Annual report 2025A · The company itself

“The U.S. and foreign laws and regulations that apply to our operations are complex and may change rapidly, and our efforts to comply with them require significant resources and increase the costs and risks of doing business. The regulations we are subject to have become more stringent over time, may decrease the need for our services, impose significant operational limits on our business and may be inconsistent across jurisdictions. Further, the laws and regulations affecting our business are subject to change as a result of, among other things, new interpretations and judicial decisions, and any such changes may increase the regulatory requirements imposed on us, impact the way we are able to do business, impact efforts to protect intellectual and other property, and significantly harm our business and results of operations.”

Annual report 2025A · The company itself

“Among other things, the terms of the RSA require more frequent rate filings for lender-placed insurance. This could result in downward pressure on premium rates for these products. If such filings result in significant decreases in premium rates for our lender-placed insurance products, our cash flows and results of operations could be materially adversely affected.”

Annual report 2025A · The company itself

“There is also significant uncertainty in the evolving regulatory regime relating to AI, which may require substantial resources to modify and maintain business practices to comply with U.S. and non-U.S. laws. For example, various states have adopted the NAIC’s model bulletin, The Use of Artificial Intelligence Systems by Insurers; and internationally, the European Union Artificial Intelligence Act entered into force in August 2024 with phased obligations. Evolving obligations may negatively impact our development and use of AI in our business and may subject us to regulatory scrutiny, litigation, increased compliance costs, and social and ethical concerns.”

Annual report 2025A · The company itself

“The scope and interpretation of these laws and additional laws that are or may be applicable to us are continuously evolving, often uncertain and may be conflicting, particularly with respect to foreign laws. All of these evolving compliance and operational requirements, including restrictions on cross-border data transfers, impose significant costs that are likely to increase over time and may restrict the way services involving data are offered, all of which may adversely affect our results of operations.”

Annual report 2025A · The company itself

“Our domestic and international insurance subsidiaries are subject to extensive regulatory oversight, including: restrictions and requirements related to licensing; capital, surplus and dividends; underwriting limitations; the ability to enter, exit and continue to operate in markets; statutory accounting and other disclosure requirements; the ability to provide, terminate or cancel certain coverages; premium rates, including regulatory ability to disapprove or reduce the premium rates companies may charge; trade and claims practices; product forms, including regulatory ability to disapprove new product filings; content of disclosures to consumers; type, amount and valuation of investments; assessments or other surcharges for guaranty funds and companies’ ability to recover assessments through premium increases; and market conduct and sales practices.”

Annual report 2025A · The company itself

“Legislation or other regulatory reform related to the insurance industry that increases the regulatory requirements imposed on us or that changes the way we are able to do business may significantly harm our business or results of operations.”

Annual report 2025A · The company itself

“A credit rating agency downgrade of our corporate senior debt rating could materially and adversely impact our business. Currently, Assurant, Inc.’s senior debt is rated BBB by S&P and Baa2 by Moody’s, and both ratings carry a stable outlook. If our senior debt credit ratings were downgraded, particularly if downgraded below investment grade, our business, financial condition and results of operations, and perceptions of our financial strength, could be materially and adversely affected.”

Annual report 2025A · The company itself

“If we experience a business continuity event, such as an earthquake, hurricane, flood, terrorist incident, military conflict, pandemic, security breach, cybersecurity incident, power loss, telecommunications outage or other systems failure, or other disaster, our ability to continue operations will depend on an effective business continuity and disaster recovery plan, including the safety and continued availability of our personnel, including key executives, vendors and other third parties, and the proper functioning of our telecommunications and other systems and operations, including our device care centers and other facilities. An extended period of such conditions may strain our business continuity and disaster recovery plan, introduce additional operational risk, including cybersecurity and fraud risks, negatively impact employee morale, result in negative publicity, reputational harm and the loss of profitability and clients.”

Annual report 2025A · The company itself

“Should the housing market deteriorate for a prolonged period, we could experience a longer-term increase in our placement rates over time. In addition to the overall market, our lender-placed results are also impacted by inflation and the costs of paying claims, and the mix of loans we service.”

Annual report 2025A · The company itself

“Global Housing Adjusted EBITDA increased $187.5 million, or 28%, to $858.7 million for Twelve Months 2025 from $671.2 million for Twelve Months 2024, including $46.4 million of lower pre-tax reportable catastrophes. Excluding reportable catastrophes, Adjusted EBITDA increased 15% mainly due to top-line growth in lender-placed insurance and favorable non-catastrophe loss experience. Global Housing net earned premiums, fees and other income increased $311.8 million, or 13%, to $2.77 billion for Twelve Months 2025 from $2.46 billion for Twelve Months 2024, primarily due to growth in policies in-force and higher average premiums within lender-placed insurance, as well as growth in various specialty products.”

Annual report 2025A · The company itself

“Our Homeowners revenue is impacted by changes in the housing market, as well as the voluntary insurance market.”

Annual report 2025A · The company itself

“We are subject to the risk that clients, distributors and other parties may face financial difficulties (including as a result of macroeconomic challenges), reputational issues, problems with respect to their own products and services, or regulatory restrictions or compliance issues that may lead to lower than expected or cessation of sales of our products and services and have other adverse impacts on our results of operations or financial condition.”

Annual report 2025A · The company itself

“Factors affecting these items, including conditions in the financial markets, the global economy, political conditions and the markets in which we operate, fluctuations in exchange rates, interest rates and inflation, and tariffs and global supply chain disruptions may have a material adverse effect on our results of operations or financial condition.”

Annual report 2025A · The company itself

“As of December 31, 2025, approximately 61% of our employees were frontline workers, predominantly in hourly roles such as customer care, claims administration, mobile repair and logistics; and approximately 38% were in managerial roles, predominantly salaried employees engaged in an array of business and support functions.1 For full-year 2025, our global turnover rate was 11%, reflecting our blended workforce of frontline and managerial roles; turnover for managerial roles was 5%, and turnover for frontline employees was 14%, which is typically higher given the nature of the roles. Year-over-year, the turnover rate for frontline employees improved by 3 percentage points, while the turnover rate for managerial employees remained unchanged.2 Overall, this is attributed to ongoing actions to identify and remediate talent risks and enhance the employee experience, as well as stabilization in key labor markets.”

Annual report 2025A · The company itself

“The U.S. renters insurance market is a growing market with new building development, high occupancy and favorable relocation trends.”

Annual report 2025A · The company itself

“Factors affecting these items, including conditions in the financial markets, the global economy, political conditions and the markets in which we operate, fluctuations in exchange rates, interest rates and inflation, and tariffs and global supply chain disruptions may have a material adverse effect on our results of operations or financial condition.”

Annual report 2025A · The company itself

“However, the value of certain inventory could be adversely impacted by technological changes affecting the usefulness or desirability of the devices and parts, physical problems resulting from faulty design or manufacturing, increased competition, decreased consumer demand, including due to changes in customer preferences, changes in client promotions and seasonality, changes in client forecasts and demand, supply chain constraints and our ability to manage inventory, growing industry emphasis on cost containment and adverse foreign trade relationships.”

Annual report 2025A · The company itself

“Our mobile business is subject to volatility in mobile device trade-in volumes and margins based on the actual and anticipated timing of the release of new devices, carrier promotional programs and sales prices for used devices, as well as to changes in consumer preferences and client forecasts and demands.”

Annual report 2025A · The company itself

“The increase in Adjusted EBITDA was partially offset by a $7.0 million non-run rate inventory adjustment recorded for U.S. mobile during the fourth quarter of 2025 and the unfavorable impact of foreign exchange.”

Annual report 2025A · The company itself