Investor Presentaiton
Second Quarter 2023 Results
Adjusted
EBITDA (1)
$337 million
+21% YoY
Segment Net
Earned Premiums,
Fees and Other
Income(2)
$2.65 billion
+7% YOY
+22% YoY constant
currency
Adjusted EPS(1)
+7% YoY constant
currency
$4.09
+26% YoY
Capital
Deployment
$60 million
Repurchases &
Common stock
dividends
Liquidity
$495 million
Cash at holding
company
"Overall, we are pleased with our second quarter results which were driven by significant top-line growth and improving loss experience in Global Housing. While
Global Lifestyle results were down year-over-year from ongoing elevated claims in Global Automotive and lower contributions in Japan, we have seen continued
strength in our U.S. Connected Living business and made significant progress in the first half of this year stabilizing international results which were impacted by
headwinds in the second half of 2022," said Assurant President and CEO Keith Demmings.
"Given our strong year-to-date performance and momentum expected in the second-half of the year, we are increasing our 2023 outlook as we now expect
Adjusted EBITDA and Adjusted earnings per share, both excluding catastrophes, to increase high single-digits. In addition, we resumed share repurchases in the
second quarter and expect to continue share repurchase activity for the remainder of the year as we generate strong cash flows through our differentiated
business model," Demmings added.
Information listed is for the period ended June 30, 2023, other than liquidity, which is as of June 30, 2023.
(1) Excludes reportable catastrophes. Refer to Exhibit 2 in the Appendix for information regarding non-GAAP financial measures, including reconciliations to the most directly comparable GAAP measures.
(2) Segment net earned premiums, fees and other income refers to the net earned premiums, fees and other income of the Global Lifestyle and Global Housing segments. Refer to Exhibit 2 in the Appendix for
information regarding non-GAAP financial measures, including reconciliations to the most directly comparable GAAP measures.
✰ ASSURANTⓇ
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