Assurant (ZAS) AI Stock Analysis

Company Guidance

For 2026, Assurant now expects full year adjusted EBITDA to grow approximately 10% and adjusted earnings per share to grow low double digits, with both metrics excluding cats, while overcoming $52 million of lower favorable prior year reserve development in Global Housing; excluding the impact of prior year reserve development, it expects low to mid-teens adjusted EBITDA growth and mid-teens adjusted earnings per share growth, excluding cats. Global Lifestyle is expected to lead growth, with mid- to high teens growth, while Global Housing earnings are expected to grow mid-single digits, excluding cats, and, absent impacts from lower prior year reserve development, low double-digit underlying growth for the full year; the 2026 outlook does not contemplate incremental prior year reserve development in the fourth quarter. Share repurchases are expected to be $350 million, at the top of the $250 million to $350 million initial repurchase range. Freedom Mortgage policy placement is expected to ramp up over the next few quarters, and Assurant expects meaningful opportunity to grow its 34 million tracked loans over the next several years; for 2027, Lifestyle is expected to continue to lead growth, with growth in both Connected Living and Automotive, while Housing is focused on sustaining the high level of earnings achieved.