ASSURANT, INC. (AIZ) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that ASSURANT, INC. surfaced in its latest filing.

• As of December 31, 2025, a significant number of contracts require minimum financial strength ratings, typically from A.M. Best, ranging from “A” or better to “B+” or better.December 31, 2025
• A.M. Best rates most of our domestic and certain international operating insurance subsidiaries.
• Moody’s and S&P rate three of our domestic operating insurance subsidiaries.
• Assurant's senior debt is rated BBB by S&P and Baa2 by Moody's, both with stable outlooks.
• Interest rate on certain senior notes increases if either S&P or Moody's downgrades the notes to BB+ or below (S&P) or Ba1 or below (Moody's).
• Goodwill represented 45% of total equity as of December 31, 2025.December 31, 2025
• Other intangible assets collectively represented 9% of total equity as of December 31, 2025.December 31, 2025
• Management certified internal control over financial reporting as effective as of December 31, 2025.December 31, 2025
• As of December 31, 2025, fixed maturity securities represented approximately 85% of total investments.December 31, 2025
• Full year 2025 gross investment income from fixed maturity securities totaled $434.8 million.2025
• Below investment grade securities represented approximately 6% of total investments as of December 31, 2025.December 31, 2025
• Equity securities represented approximately 2% of total investments as of December 31, 2025.December 31, 2025
• Commercial mortgage loans on real estate represented approximately 3% of total investments as of December 31, 2025.December 31, 2025
• The company accesses the Florida Hurricane Catastrophe Fund (FHCF) to reinsure eligible Florida risks.
• A reinsurance recoverable balance of $472.0 million with John Hancock Life Insurance Company exists as of December 31, 2025, related to the sale of the long-term care division through reinsurance.December 31, 2025
• The A.M. Best rating of John Hancock is currently A+.
• In July 2025, the One Big Beautiful Bill Act (OBBBA) was enacted, introducing a broad range of U.S. tax reform provisions.July 2025
• 2017 regulatory settlement agreement (RSA) resolved a targeted multistate market conduct examination focused on lender-placed insurance.2017
• The European Union Artificial Intelligence Act entered into force in August 2024 with phased obligations.August 2024
• Japan and the United Kingdom have adopted OECD Pillar Two Model Rules for tax years beginning in 2024.2024
• Argentina’s economy is classified as highly inflationary under GAAP.