PowerPoint Presentation

1

Investor Presentation

First Quarter 2024

2

Keith Demmings

President

& Chief Executive Officer

Keith Meier

Executive Vice President

& Chief Financial Officer

3

Cautionary Statement

Some of the statements in this presentation, including our business and financial plans and any statements regarding our anticipated future financial

performance, business prospects, growth and operating strategies and similar matters, such as performance outlook, financial objectives, business

drivers, our ability to gain market share, and the strength, diversity, predictability and resiliency of enterprise and segment earnings, cash flows and

other results, may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Refer to

Exhibit 1 in the Appendix for more information such as factors that could cause our actual results to differ materially from those currently estimated

by management, including those projected in the company outlook and financial objectives, and information on where you can find a more detailed

discussion of these factors in our SEC filings.

Assurant uses non-GAAP financial measures to analyze the company’s operating performance. Assurant’s non-GAAP financial measures should not be

considered in isolation or as a substitute for GAAP financial measures. Because Assurant’s calculation of these measures may differ from similar

measures used by other companies, investors should be careful when comparing Assurant’s non-GAAP financial measures to those of other

companies. Refer to Exhibit 2 in the Appendix for more information, including a reconciliation of non-GAAP financial measures to the most comparable

GAAP financial measures.

Assurant, Inc. is an insurance holding company and the ownership of its stock is subject to certain state and foreign insurance law requirements. Refer

to Exhibit 3 in the Appendix for additional detail.

4

Delivered a Strong Start to 2024

+31% growth

Adjusted EBITDA,

excl. cats

(1)

+42% growth

Adjusted EPS,

excl. cats

(1)

$254M

Cash generated

(2)

$77M

Returned to

Shareholders

(3)

✓ Performance driven by continued

strength in Global Housing and

growth in Global Lifestyle

✓ Continued strong cash generation

✓ Maintained a strong balance sheet

along with disciplined capital return

Information listed is for the period ended March 31, 2024. Growth rates are compared to the prior year period.

(1) Refer to Exhibit 2 in the Appendix for information regarding non-GAAP financial measures, including reconciliations to the most directly comparable GAAP measures.

(2) Consists of dividends or returns of capital from subsidiaries to the holding company, net of infusions of liquid assets, and excluding acquisitions and divestitures.

(3) Includes share repurchases and common stock dividends.

5

Differentiated & Unique Business Model Positions Assurant

to Deliver Long-term Outperformance

Leadership

Positions in

Attractive

Markets

B2B2C Model

Aligned with

Industry

Leaders

Demonstrated

Ability to Innovate

including Add-on

Services

Attractive Risk

Profile

with Less

Volatility

Ability to

Adjust Pricing

with Client

Alignment

Low Capital

Intensity &

Strong Cash

Generation

Positioned to

Deliver

Long-term

Outperformance

Differentiated &

Unique

Business Model

6

Global Lifestyle delivered solid Adjusted EBITDA year-over-

year growth led by double-digit growth in Connected Living

Connected Living

• Strong performance led by domestic mobile device protection and

higher investment income

• Continued to make strategic investments to support long-term growth,

including:

- Recently launched partnership with Australia’s largest mobile carrier

- Acquisition of iSmash, a leading independent tech repair brand in

the United Kingdom

- Multi-year renewal with a large U.S. mobile client, including launch

of a new program

Global Automotive

• Auto repair costs remain elevated

• Continuing to implement prospective rate increases

• Investment income growth continues to partially offset impacts

Global Lifestyle Highlights

Global Lifestyle

Adjusted EBITDA ($ millions)

Connected Living

Global Automotive

117

133

82

75

Q1'23 Q1'24

199

208

+4%

+5%

constant

currency

(1)

(1) Refer to Exhibit 2 in the Appendix for information regarding non-GAAP financial

measures, including reconciliations to the most directly comparable GAAP measures.

7

Global Housing Adjusted EBITDA, excl. cats

(1)

, delivered

significant year-over-year growth

• Q1 performance continues to highlight Global Housing’s unique

and differentiated P&C businesses

Homeowners

• Improving loss experience, top-line growth, and ongoing

expense leverage drove continued strong performance

• Began to onboard loan portfolio of a major U.S. banking client in

Q1’24

Renters and Other

• Grew Renters gross written premiums by over 15%, continuing

to benefit from strong growth in our PMC channel

• Leveraged premium technical support capabilities from

Connected Living to launch Assurant Tech Pro for PMC channel

Global Housing Highlights

Global Housing

Adjusted EBITDA, excl. cats

(1)

($ millions)

118

205

Q1'23 Q1'24

+74%

(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.

8

Adjusted EBITDA, ex. cats

(1)

, to grow mid-single-digits

• Expansion led by Global Housing, as well as Global Lifestyle growth

• Partially offset by continued investments to support growth

• Given strength of Q1 Global Housing results, Adjusted EBITDA, excl.

cats

(1)

growth trending towards higher end of the mid-single-digit

outlook

2023

Baseline

2024

Outlook

Adjusted EBITDA,

excl. cats

(1)

$1,369 million

Mid-single-digit

growth

Adjusted EPS,

excl. cats

(1)

$17.13

Growth rate to

approximate Adjusted

EBITDA, excl. cats,

growth

Segment Cash

Generation

(2)

$773 million

Nearly 60% of business

segment Adjusted

EBITDA, incl. cats

~2/3 of business

segment Adjusted

EBITDA, incl. cats

(1)(3)

(1) Refer to Exhibit 2 in the Appendix for information regarding non-GAAP financial measures, including reconciliations to the most directly comparable GAAP measures.

(2) Consists of dividends or returns of capital from operating subsidiaries to the holding company, net of infusions of liquid assets, and excluding acquisitions and divestitures.

(3) 2024 business segment (Global Lifestyle and Global Housing) cash generation includes a $155M assumed annual catastrophe load.

2024 Outlook: Continuing Track Record of Profitable Growth

Adjusted EPS, ex. cats

(1)

, growth to approximate Adjusted

EBITDA, ex. cats

(1)

, growth

• Adjusted EPS, ex. cats

(1)

growth driven by earnings growth and share

repurchases, partially offset by higher depreciation expense related

to strategic technology investments

Segment dividends ~2/3 of segment Adjusted EBITDA,

incl. cats

(1)(3)

• Strong holding company liquidity supported by ongoing cash

generation of Global Lifestyle and Global Housing

9

293

384

Q1'23 Q1'24

Significant Adjusted EBITDA and Adjusted EPS growth, both

excl. cats

(1)

• Adjusted EBITDA, excl. cats

(1)

up 31% year-over-year

• Adjusted EPS

(1)

outpaced Adjusted EBITDA growth, both excl. cats

Continued strong balance sheet and liquidity

• Holding company liquidity of $622 million

Disciplined capital return

• Share repurchases of $40 million

• Common stock dividends of $37 million

Enterprise Q1’24 Financial

Highlights

Information listed is for the period ended March 31, 2024, other than liquidity, which is as of March 31, 2024.

(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.

Adjusted EBITDA, excl. cats

(1)

($ millions)

+31%

Growth

3.49

4.97

Q1'23 Q1'24

Adjusted EPS, excl. cats

(1)

($ per share)

+42%

Growth

10

Q1 2024 Highlights

• Adjusted EBITDA growth of 4%, or 5% on a constant currency

basis

(1)

− Connected Living Adjusted EBITDA increased 14%

− Global Automotive Adjusted EBITDA decreased 9%

Global Lifestyle Q1’24 Financial

Highlights and 2024 Outlook

Global Lifestyle Adjusted EBITDA ($ millions)

Connected Living

Global Automotive

2024 Adjusted EBITDA Outlook: Expect Growth

• Connected Living expected to increase from organic growth and

improved profitability

- Growth partially offset by investments for new clients and

programs

• Global Automotive expected to be flat as higher investment

income is offset by continued loss pressure from inflation

- Implemented rate actions expected to drive improvement

over time

117

133

82

75

Q1'23 Q1'24

199

208

Global Lifestyle 2024 Adjusted EBITDA Outlook

($ millions)

2023 2024 Outlook

Growth

792

+4%

+5%

constant

currency

(1)

(1) Refer to Exhibit 2 in the Appendix for information regarding non-GAAP financial measures, including

reconciliations to the most directly comparable GAAP measures.

11

Q1 2024 Highlights

• Adjusted EBITDA, excl. cats

(1)

, increased 74%

• Non-cat loss ratio

(1)

of 35%

- Non-cat loss ratio

(1)

of 39%, excluding prior period

development of $22 million

• Expense ratio

(2)

of 38%

Global Housing Q1’24 Financial

Highlights and 2024 Outlook

Global Housing Adjusted EBITDA,

excl. cats

(1)

($ millions)

Global Housing 2024 Adjusted EBITDA,

excl. cats, Outlook

(1)

($ millions)

(1) Refer to Exhibit 2 in the Appendix for information regarding non-GAAP financial measures, including

reconciliations to the most directly comparable GAAP measures.

(2) Expense ratio is defined as (i) underwriting, selling, general and administrative expenses plus depreciation

expense and amortization of purchased intangible assets, divided by (ii) net earned premiums, fees and other

income.

2024 Adjusted EBITDA, excl. Cats

(1)

, Outlook: Expect Growth

• Expect growth, overcoming $54 million of favorable prior year

reserve development in 2023, compared to $22 million in Q1’24

118

205

Q1'23 Q1'24

+74%

Global Housing Prior Year Reserve Development

Growth

2023 2024 Outlook

Growth

685

54

12

2024 Catastrophe Reinsurance Program

Retention

$1,530M

1-265-year

PML

1-5-year

PML

$1,150M

$775M

$550M

$300M

$200M

$150M

Layer 6 – 380M xs 1,150M

Layer 5 – 375M xs 775M

Layer 4 – 275M xs 500M

Layer 3 – 200M xs 300M

Layer 2 – 100M xs 200M

Layer 1 - 50M xs 150M

Multiyear

2024 Program Highlights

• U.S. program provides ~$1.5 billion of coverage in excess of

$150 million retention

(1)

• When combined with the Florida Hurricane Catastrophe

Fund, the U.S. program protects against gross Florida losses

of up to ~$1.7 billion

(2)

in excess of $150 million retention

• Total program coverage protects against a projected

probable maximum loss (“PML”) of approximately a 1-in-265-

year storm

(3)

• 2024 reinsurance premiums are estimated to be $190 million

pre-tax based on current estimated exposure

(4)

• Layers 1 through 7 allow for one automatic reinstatement

• Coverage was placed with more than 40 reinsurers that are

all rated A- or better by A.M. Best.

90% of

$229M

excess

of

$116M

Retention

$355M

$116M

U.S. Catastrophe Reinsurance Program

(1) Coverage includes $100 million (Layer 7) that will be placed by 6/1. Renewals are subject to changes in

coverage amount, retention and cost.

(2) The risk retained by the Company after inuring recoveries from the Florida Hurricane Catastrophe Fund

(“FHCF”) is applied to the main U.S. program retention. Once exhausted, there is no reinstatement of the

FHCF coverage.

(3) Probable maximum loss is projected based on estimated September 30, 2024 exposures and a blend of

industry modeling tools. Actual losses may differ materially from projections.

(4) Actual reinsurance premiums will vary if exposure changes significantly from estimates or if

reinstatement premiums are required due to catastrophe events.

Estimated Florida

Hurricane

Catastrophe Fund

(2)

Layer 7

(1)

100M xs 1,530M

$1,630M

13

Q1 2024 Highlights

• Corporate Adjusted EBITDA loss of $(30)M, driven by higher

expenses to support enterprise growth initiatives

Corporate Q1’24 Financial

Highlights and 2024 Outlook

Adjusted EBITDA Loss ($ millions)

2024 Adjusted EBITDA Loss Outlook

($ millions)

2024 Adjusted EBITDA Loss Outlook: Approximate

$(110)M

• Corporate loss in-line with 2023

Q1'23 Q1'24

(24)

(30)

2023 2024 Outlook

~(110)

(109)

14

Significant Cash Generation & Balanced Capital

Allocation Drives Shareholder Value

Share

Repurchases

(2)

• Since IPO in 2004,

repurchased ~70% of

outstanding shares

• Repurchased $200 million

in 2023

• Repurchased $40 million

in Q1‘24

Common

Stock

Dividends

(2)

• Increased dividend for

19 consecutive years

Organic

Investments

and M&A

Investments

• Digitization across enterprise

• AI & automation focus

• New client partnerships

M&A

• Disciplined M&A approach

focused on Connected Living,

Automotive and Renters

2024 Segment

Dividends expected to

approximate 2/3 of Global

Lifestyle + Global Housing

Adjusted EBITDA, incl. cats

(1)

Significant Cash Generation

(1)

Maintain Debt Leverage

Ratio of <30%, incl. AOCI

Maintain Investment Grade

Ratings

Strong Balance Sheet

& Ratings

Balanced Uses of Capital

(1) Consists of dividends or returns of capital from operating subsidiaries to the holding company, net of infusions of liquid assets, and excluding acquisitions and divestitures. 2024

business segment (Global Lifestyle and Global Housing) cash generation includes a $155M assumed annual catastrophe load.

(2) Subject to Board approval, strategic M&A opportunities, market conditions and CAT activity.

15

Differentiated & Unique Business Model Positions Assurant

to Deliver Long-term Outperformance

Leadership

Positions in

Attractive

Markets

B2B2C Model

Aligned with

Industry

Leaders

Demonstrated

Ability to Innovate

including Add-on

Services

Attractive Risk

Profile

with Less

Volatility

Ability to

Adjust Pricing

with Client

Alignment

Low Capital

Intensity &

Strong Cash

Generation

Positioned to

Deliver

Long-term

Outperformance

Differentiated &

Unique

Business Model

16

Appendix

17

Rebekah Biondo

Deputy Chief Financial Officer

Sean Moshier

Head of Investor Relations

Questions?

Matt Cafarchio

Investor Relations Director

Contact: investor.relations@assurant.com

18

2024 Outlook: Adjusted EBITDA to Adjusted Earnings Walk

2023

Actuals

2024

Outlook

Adjusted EBITDA, excl. cats

(1)

(millions)

$1,369 Mid-single-digit growth

(-) Depreciation Expense

$(109) ~$(130)

(-) Interest Expense

$(108) ~$(107)

(-) Taxes

$(231) ~20-22%

Adjusted Earnings, excl. cats

(1)

(millions)

$921

Weighted Average Diluted Shares Outstanding

(millions)

53.8 Impact of share repurchases

(2)

Adj. EPS, excl. cats

(1)

$17.13

Growth rate to approximate

Adjusted EBITDA, excl. cats,

growth rate

(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) Subject to strategic M&A opportunities, market conditions and CAT activity.

19

Outperforming the Broader P&C Market

(1) Excludes earnings from Global Preneed and non-core businesses and, if indicated, 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) P&C market is represented by the S&P Composite 1500 Property & Casualty Index. Source: Capital IQ. Refer to Exhibit 5 in the Appendix for the Index’s definition of adjusted earnings, both excluding and

including catastrophes.

(3) CAGR listed from December 31, 2019 through December 31, 2023.

8%

10%

12%

13%

Adj. earnings, incl. cats(1)

Adj. earnings, excl. cats(1)

P&C Market Comparison

(2,3)

2019 –2023

AIZ P&C Market

20

(1) Amounts reflect net earned premiums, fees and other income for the last twelve months ended March 31, 2024.

Refer to Exhibit 4 in the Appendix for a list of sources.

15 of Top 50 most

valuable global brands

20+ year

partnerships

High client retention

across all LOBs

Connected

Living

• Mobile carriers

• Cable operators

• Retailers

• Credit card

companies

• 7 of top 10 global

telecommunications

brands

Client

partnerships…

…with leading

global brands

Auto

• Auto dealers

• OEMs

• Third-party

administrators

(TPAs)

• 4 of top 5

dealer groups

Renters &

Other

• Property managers

• Affinity partners

• 4 of top 5 U.S.

multifamily property

management

companies

Homeowners

• Banks

• Mortgage servicers

• P&C insurers, agents

and brokers

• Affinity partners

• 7 of top 10 mortgage

servicers

B2B2C Model Aligned with Leaders and Long-term Winners

Net earned

premiums,

fees and other

income

(1)

$4.5B

$4.2B

$0.5B

$1.7B

21

Talent

Climate

Products

• Ensure workforce and leadership reflect the diversity of

our consumers and communities

• Sustain strong engagement through career growth, fair and equitable

total rewards and wellbeing

• Doubled the number of new diverse suppliers ahead of 2025 goal

• Track emissions globally; implemented Scope 1 and 2 emissions 40%

reduction target by 2030

• Improve energy efficiency

• Optimize global real estate footprint

• Integrate ESG commitment into investment portfolio

• Reinforce value of offerings to support connected lifestyle

• Accelerate the rollout of sustainability offerings

• Help consumers invest in products to enhance their wellbeing

Key Goals

Great Place

to Work

across 13

markets,

including U.S.

Electric vehicle

product available to

sell in 12 countries

Integrating

environmental

commitment into

business operations

Information listed as of March 31, 2024.

Purpose-Driven Culture and Commitment to Sustainability

22

Exhibit 1: Safe Harbor Statement

Some of the statements in this presentation, including our business and financial plans and any statements regarding the company’s anticipated future financial performance,

business prospects, growth and operating strategies and similar matters, including financial objectives and the strength, diversity, predictability and resiliency of enterprise and

segment earnings, cash flows and other results, may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.

You can identify forward-looking statements by the use of words such as “outlook,” “objective,” “will,” “may,” “can,” “anticipates,” “expects,” “estimates,” “projects,” “intends,” “plans,”

“believes,” “targets,” “forecasts,” “potential,” “approximately,” and the negative version of those words and other words and terms with a similar meaning. Any forward-looking

statements contained in this presentation are based upon our historical performance and on current plans, estimates and expectations. The inclusion of this forward-looking

information should not be regarded as a representation by us or any other person that our future plans, estimates or expectations will be achieved. Our actual results might differ

materially from those projected in the forward-looking statements. We undertake no obligation to update or review any forward-looking statement, whether as a result of new

information, future events or other developments. The following factors could cause our actual results to differ materially from those currently estimated by management, including

those projected in the company outlook: i. the loss of significant clients, distributors or other parties with whom we do business, or if we are unable to renew contracts with them on

favorable terms, or if they disintermediate us, or if those parties face financial, reputational or regulatory issues; ii. significant competitive pressures, changes in customer preferences

and disruption; iii. the failure to execute our strategy, including through the continuing service of key executives, senior leaders, highly-skilled personnel and a high-performing

workforce; iv. the failure to find suitable acquisitions at attractive prices, integrate acquired businesses or divest of non-strategic businesses effectively or achieve organic growth; v.

our inability to recover should we experience a business continuity event; vi. the failure to manage vendors and other third parties on whom we rely to conduct business and provide

services to our clients; vii. risks related to our international operations; viii. declines in the value and availability of mobile devices, and regulatory compliance or other risks in our

mobile business; ix. our inability to develop and maintain distribution sources or attract and retain sales representatives and executives with key client relationships; x. risks

associated with joint ventures, franchises and investments in which we share ownership and management with third parties; xi. the impact of catastrophe and non-catastrophe losses,

including as a result of the current inflationary environment and climate change; xii. negative publicity relating to our business, industry or clients; xiii. the impact of general economic,

financial market and political conditions (including the Israel-Hamas war) and conditions in the markets in which we operate, including the current inflationary environment; xiv. the

adequacy of reserves established for claims and our inability to accurately predict and price for claims and other costs; xv. a decline in financial strength ratings of our insurance

subsidiaries or in our corporate senior debt ratings; xvi. fluctuations in exchange rates, including in the current environment; xvii. an impairment of goodwill or other intangible

assets; xviii. the failure to maintain effective internal control over financial reporting; xix. unfavorable conditions in the capital and credit markets; xx. a decrease in the value of our

investment portfolio, including due to market, credit and liquidity risks, and changes in interest rates; xxi. an impairment in the value of our deferred tax assets; xxii. the unavailability

or inadequacy of reinsurance coverage and the credit risk of reinsurers, including those to whom we have sold business through reinsurance; xxiii. the credit risk of some of our

agents, third-party administrators and clients; xxiv. the inability of our subsidiaries to pay sufficient dividends to the holding company and limitations on our ability to declare and pay

dividends or repurchase shares; xxv. limitations in the analytical models we use to assist in our decision-making; xxvi. the failure to effectively maintain and modernize our technology

systems and infrastructure, or the failure to integrate those of acquired businesses; xxvii. breaches of our technology systems or those of third parties with whom we do business, or

the failure to protect the security of data in such systems, including due to cyberattacks and as a result of working remotely; xxviii. the costs of complying with, or the failure to comply

with, extensive laws and regulations to which we are subject, including those related to privacy, data security, data protection and tax; xxix. the impact of litigation and regulatory

actions; xxx. reductions or deferrals in the insurance premiums we charge; xxxi. changes in insurance, tax and other regulations, including the Inflation Reduction Act of 2022; xxxii.

volatility in our common stock price and trading volume; and xxxiii. employee misconduct.

For additional information on factors that could affect our actual results, please refer to the factors identified in the reports we file with the U.S. Securities and Exchange Commission,

including the risk factors identified in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

23

Exhibit 2: Non-GAAP Financial Measures

Assurant uses the following non-GAAP financial measures to analyze the company’s operating performance. Assurant’s non-GAAP financial measures should not be considered

in isolation or as a substitute for GAAP financial measures. Because Assurant’s calculation of these measures may differ from similar measures used by other companies,

investors should be careful when comparing Assurant’s non-GAAP financial measures to those of other companies.

Adjusted EBITDA, excluding reportable catastrophes:

Assurant uses Adjusted EBITDA, excluding reportable

catastrophes, as an important measure of the company’s

operating performance. Assurant defines Adjusted EBITDA,

excluding reportable catastrophes, as net income from

continuing operations, excluding net realized gains (losses) on

investments and fair value changes to equity securities, non-

core operations, restructuring costs related to strategic exit

activities, interest expense, provision (benefit) for income

taxes, depreciation expense, amortization of purchased

intangible assets and reportable catastrophes (which

represents individual catastrophic 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), as well as other highly variable or unusual

items. The company believes this metric provides investors

with an important measure of the company's operating

performance because it excludes items that do not represent

the ongoing operations of the company, and therefore (i)

enhances management’s and investors’ ability to analyze the

ongoing operations of its businesses and (ii) facilitates

comparisons of its operating performance over multiple

periods, including because the amortization expense

associated with purchased intangible assets may fluctuate

from period to period based on the timing, size, nature and

number of acquisitions. It also excludes reportable

catastrophes, which can be volatile. Although the company

excludes amortization of purchased intangible assets from

Adjusted EBITDA, revenue generated from such intangible

assets is included within the revenue in determining Adjusted

EBITDA. The comparable GAAP measure is net income from

continuing operations.

(UNAUDITED)

1Q Twelve Months

($ in millions)

2024 2023 2023 2022 2021 2020 2019

GAAP net income from continuing operations

$ 236.4

$ 113.6

$ 642.5

$ 276.6

$ 602.9

$ 519.4

$ 306.4

Less:

Interest expense

26.8

27.0

108.0

108.3

111.8

104.5

110.6

Provision for income taxes

56.5

33.5

164.3

73.3

168.4

58.7

148.3

Depreciation expense

30.6

26.4

109.3

86.3

73.8

56.1

51.8

Amortization of purchased intangible assets

17.6

18.7

77.9

69.7

65.8

52.7

40.3

Adjustments, pre

-tax:

Net realized losses (gains) on investments and fair value changes to

equity securities

8.8

10.6

68.7

179.7

(128.2)

9.4

(57.0)

Non

-core operations

2.6

12.2

50.4

79.5

14.4

(7.4)

38.0

Restructuring costs

—

6.4

34.3

53.1

11.8

—

COVID

-19 direct and incremental expenses

—

4.7

10.0

25.2

—

(Gain) loss on extinguishment of debt

—

(0.1)

0.9

20.7

—

31.8

Assurant Health runoff operations

(0.4)

(7.5)

(6.9)

0.6

(0.6)

(16.1)

(28.0)

Net charge related to Iké

—

5.9

163.0

Acquisition integration expenses

—

0.1

0.5

14.9

13.9

18.0

24.4

Foreign exchange related losses

(2.2)

6.7

31.3

13.4

13.8

11.5

18.2

Gain related to benefit plan activity

(6.0)

(6.1)

(24.0)

(18.2)

(16.2)

(15.6)

(5.6)

Net gain from deconsolidation of consolidated investment entities

—

(7.0)

—

Net charge related to Green Tree Insurance Agency acquisition

—

15.6

Loss on sale of Mortgage Solutions

—

9.6

Loss on building held for sale

—

7.3

Correction of error identified in 2Q 2022

—

(7.9)

Merger and acquisition transaction and other related expenses

—

1.4

1.3

13.4

3.6

15.5

3.2

Income attributable to non

-controlling interests

—

(1.2)

(5.1)

Adjusted EBITDA

370.7

242.9

1,257.5

956.2

965.9

829.6

864.9

Reportable catastrophes, pre

-tax

13.0

50.4

111.8

172.1

155.6

178.5

37.9

Adjusted EBITDA, excluding reportable catastrophes

$ 383.7

$ 293.3

$ 1,369.3

$ 1,128.3

$ 1,121.5

$ 1,008.1

$ 902.8

24

Exhibit 2: Non-GAAP Financial Measures (Continued)

Constant Currency: Represents a non-GAAP financial measure. Excludes the impact of changes in foreign currency exchange rates used in the translation of the income statement because they can be

volatile. These amounts are calculated by translating the comparable prior period results at the weighted average foreign currency exchange rates used in the current period, and it excludes the impact of

foreign exchange transaction gains (losses) associated with the remeasurement of non-functional currencies. The company believes this information allows investors to identify the significance of changes in

foreign currency exchange rates in period-to-period comparisons.

(UNAUDITED)

1Q

Twelve

Months

($ in millions)

2024 2023 2023

GAAP Global Housing Adjusted EBITDA

$ 192.5

$ 68.4

$ 574.2

Reportable catastrophes, pre-tax

12.9

49.5

111.0

Global Housing Adjusted EBITDA,

excluding reportable catastrophes

$ 205.4

$ 117.9

$ 685.2

(UNAUDITED)

Constant

Currency

1Q 2024

Percentage change in Global

Lifestyle Adjusted EBITDA:

Including FX impact

4.4

%

FX impact

(1.0)

Excluding FX impact

5.4

%

25

Exhibit 2: Non-GAAP Financial Measures (Continued)

Adjusted Earnings per Diluted Share: Assurant uses

Adjusted earnings per diluted share as an important measure

of the company’s stockholder value. Assurant defines

Adjusted earnings per diluted share as net income from

continuing operations, excluding net realized losses (gains) on

investments and fair value changes to equity securities,

amortization of purchased intangible assets, non-core

operations, restructuring costs related to strategic exit

activities, as well as other highly variable or unusual items,

divided by the weighted average diluted shares outstanding.

The company believes this metric provides investors with an

important measure of stockholder value because it excludes

items that do not represent the ongoing operations of the

company, and therefore (i) enhances management’s and

investors’ ability to analyze the ongoing operations of its

businesses and (ii) facilitates comparisons of its operating

performance over multiple periods, including because the

amortization expense associated with purchased intangible

assets may fluctuate from period to period based on the

timing, size, nature and number of acquisitions. Although the

company excludes amortization of purchased intangible

assets from Adjusted earnings, revenue generated from such

intangible assets is included within the revenue in determining

Adjusted earnings. The comparable GAAP measure is net

income from continuing operations per diluted share, defined

as net income from continuing operations, divided by the

weighted average diluted shares outstanding.

(UNAUDITED)

1Q Twelve Months

($ in millions)

2024 2023 2023 2022 2021 2020 2019

GAAP net income from continuing operations

$ 236.4

$ 113.6

$ 642.5

$ 276.6

$ 602.9

$ 519.4

$ 306.4

Adjustments, pre

-tax:

Net realized losses (gains) on investments and fair value changes to

equity securities

8.8

10.6

68.7

179.7

(128.2)

8.2

(57.0)

Amortization of purchased intangible assets

17.6

18.7

77.9

69.7

65.8

52.7

40.3

Non-core operations

2.6

12.2

50.4

79.5

14.4

(7.4)

38.0

Restructuring costs

—

6.4

34.3

53.1

13.1

—

COVID-19 direct and incremental expenses

—

4.7

10.0

26.8

—

(Gain) loss on extinguishment of debt

—

(0.1)

0.9

20.7

—

37.4

Assurant Health runoff operations

(0.4)

(7.5)

(6.9)

0.6

(0.6)

(16.1)

(28.0)

Net charge related to Iké

—

5.9

163.0

Acquisition integration expenses

—

0.1

0.5

14.9

17.6

22.1

28.1

Foreign exchange related losses

(2.2)

6.7

31.3

13.4

13.8

11.5

18.2

Gain related to benefit plan activity

(6.0)

(6.1)

(24.0)

(18.2)

(16.2)

(15.6)

(5.6)

CARES Act tax benefit (after-tax)

—

(84.4)

—

State tax for AEB sale (after-tax)

—

2.9

—

Net gain from deconsolidation of consolidated investment entities

—

(7.0)

—

Impact of Tax Cuts and Jobs Act at enactment (after-tax)

—

(1.3)

—

Net charge related to Green Tree Insurance Agency acquisition

—

15.6

Loss on sale of Mortgage Solutions

—

9.6

Loss on building held for sale

—

7.3

Correction of error identified in 2Q 2022

—

(7.9)

Merger and acquisition transaction and other related expenses

—

1.4

1.3

13.4

3.6

16.7

3.2

Benefit for income taxes

(4.2)

(8.1)

(43.0)

(78.8)

(1.3)

(11.8)

(17.8)

Net income attributable to non

-controlling interests

—

(0.9)

(4.2)

Preferred stock dividends

—

(4.7)

(18.7)

Adjusted earnings

252.6

147.9

832.9

609.5

610.9

503.0

527.9

Reportable catastrophes, pre-tax

13.0

50.4

111.8

172.1

155.6

178.5

37.9

Tax impact of reportable catastrophes

(2.7)

(10.6)

(23.5)

(36.2)

(32.7)

(37.5)

(7.9)

Adjusted earnings, excluding reportable catastrophes

$ 262.9

$ 187.7

$ 921.2

$ 745.4

$ 733.8

$ 644.0

$ 557.9

26

Exhibit 2: Non-GAAP Financial Measures (Continued)

Adjusted Earnings, Excluding Reportable

Catastrophes, per Diluted Share: Assurant uses

Adjusted earnings, excluding reportable catastrophes,

per diluted share (each as defined above) as another

important measure of the company's stockholder

value. The company believes this metric provides

investors with an important measure of stockholder

value for the reasons noted above, and because it

excludes reportable catastrophes, which can be

volatile. The comparable GAAP measure is net income

from continuing operations per diluted share (defined

on previous page).

(UNAUDITED)

1Q Twelve Months

2024 2023 2023 2022 2021 2020 2019

GAAP net income from continuing operations per diluted share

$ 4.47

$ 2.12

$ 11.95

$ 5.05

$ 10.03

$ 8.21

$ 4.56

Adjustments per diluted share, pre

-tax:

Net realized losses (gains) on investments and fair value changes to

equity securities

0.17

0.20

1.28

3.28

(2.14)

0.14

(0.91)

Amortization of purchased intangible assets

0.33

0.35

1.45

1.27

1.10

0.83

0.65

Non-core operations

0.05

0.23

0.94

1.45

0.23

(0.12)

0.61

Restructuring costs

—

0.12

0.64

0.97

0.22

—

COVID-19 direct and incremental expenses

—

0.08

0.17

0.42

—

Loss on extinguishment of debt

—

0.02

0.34

—

0.60

Assurant Health runoff operations

(0.01)

(0.14)

(0.13)

0.01

(0.01)

(0.25)

(0.45)

Net charge related to Iké

—

0.09

2.62

Acquisition integration expenses

—

0.01

0.27

0.29

0.35

0.45

Foreign exchange related losses

(0.04)

0.12

0.58

0.25

0.23

0.18

0.29

Gain related to benefit plan activity

(0.11)

(0.45)

(0.33)

(0.27)

(0.25)

(0.09)

CARES Act tax benefit (after-tax)

—

(1.34)

—

State tax for AEB sale (after-tax)

—

0.05

—

Net gain from deconsolidation of consolidated investment entities

—

(0.11)

—

Impact of Tax Cuts and Jobs Act at enactment (after-tax)

—

(0.02)

—

Net charge related to Green Tree Insurance Agency acquisition

—

0.25

Loss on sale of Mortgage Solutions

—

0.15

Loss on building held for sale

—

0.12

Correction of error identified in 2Q 2022

—

(0.13)

Merger and acquisition transaction and other related expenses

—

0.01

0.02

0.25

0.07

0.27

0.05

Benefit for income taxes

(0.08)

(0.15)

(0.80)

(1.44)

(0.02)

(0.19)

(0.30)

Adjusted earnings per diluted share

4.78

2.75

15.49

11.13

10.24

8.26

8.47

Reportable catastrophes, pre-tax

0.24

0.94

2.08

3.14

2.59

2.83

0.61

Tax impact of reportable catastrophes

(0.05)

(0.20)

(0.44)

(0.66)

(0.55)

(0.60)

(0.13)

Adjusted earnings, excluding reportable catastrophes, per diluted

share

$ 4.97

$ 3.49

$ 17.13

$ 13.61

$ 12.28

$ 10.49

$ 8.95

27

Exhibit 2: Non-GAAP Financial Measures (Continued)

Global Housing Non-Catastrophe Loss Ratio: Assurant uses the Global Housing non-catastrophe loss ratio as an important measure of the segment's operating performance. Assurant

defines the Global Housing non-catastrophe loss ratio as segment policyholder benefits less reportable catastrophe losses, divided by segment net earned premiums less reinstatement

premiums. The Company believes that the Global Housing non-catastrophe loss ratio provides investors with an important measure of the segment's operating performance, because it

excludes the impact of reportable catastrophe losses and related reinstatement premiums, which can be volatile. The comparable GAAP measure is the Global Housing loss ratio, defined as

segment policyholder benefits divided by segment net earned premiums.

(UNAUDITED)

1Q 2024

Net earned premiums

$

540.6

Reinstatement premiums

—

Net earned premiums, excluding

reinstatement premiums

$

540.6

Policyholder benefits

$

200.3

Reportable catastrophe losses

12.9

Total policyholder benefits, excluding

reportable catastrophe losses

$

187.4

Global Housing loss ratio

37.1

%

Change due to effect of excluding

reinstatement premiums

—

Change due to effect of excluding reportable

catastrophe losses

(2.4)

Global Housing non

-catastrophe loss ratio

34.7

%

28

Exhibit 2: Non-GAAP Financial Measures (Continued)

The company outlook for Adjusted earnings, excluding reportable catastrophes, per diluted share and Adjusted

EBITDA, excluding reportable catastrophes, for Assurant and Global Housing, each constitute forward-looking non-

GAAP financial measures and the company believes that it cannot, without unreasonable efforts, forecast certain

information needed to reconcile such forward-looking non-GAAP financial measures to the most comparable

GAAP measure, the probable significance of which cannot be determined. The company is able to quantify a full-

year estimate of depreciation expense, interest expense and amortization of purchased intangible assets, each on

a pre-tax basis, and the estimated effective tax rate, which are expected to be approximately $130 million, $107

million, $70 million and 20 to 22 percent, respectively. Segment cash generation includes a $155 million assumed

annual catastrophe load. Other GAAP components cannot be reliably quantified due to the combination of

variability and volatility of such components and may, depending on the size of the components, have a significant

impact on the reconciliation.

29

Exhibit 3: Regulatory Requirements

Assurant, Inc. is an insurance holding company, with insurance subsidiaries domiciled in a number of states in the U.S. and international jurisdictions.

The ownership of our stock is subject to certain state and foreign insurance law requirements. Those are typically triggered when ownership reaches

10% of voting securities but some jurisdictions may have different requirements. We encourage engagement with us prior to approaching ownership

levels that may trigger these requirements.

30

Exhibit 4: Data Sources

4 of the top 5 dealer groups

Source: Autonews Top 150 (2023), internal

management estimates

7 of the top 10 global

telecommunications brands

Source: Telecoms 150 2023 Ranking by Brand Finance

Global Lifestyle

Assurant

15 of Top 50 most

valuable global brands

Source: World 100 Most Valuable Brands in 2023 by

Visual Capitalist

7 of the top 10 largest mortgage

servicers in the U.S.

Source: Internal Management

information

Global Housing

4 of the top 5 largest multifamily

housing PMCs in the U.S.

Source: 2023 NMHC 50 Largest

Apartment Managers

Global Housing

7 of the top 10 mortgage

servicers

Source: Internal management

information

31

Exhibit 5: Data Definition from S&P

Capital IQ Market Intelligence

Metric

Source

Definition

Adjusted earnings

SNL (S&P Capital IQ Market

Intelligence)

Operating income after taxes: Net income after taxes, less the net

income attributable to noncontrolling interest, after

-tax realized

gains, extraordinary items, deferred amortization cost amortization

adjustments and certain non

-recurring items, net of related taxes.

Adjusted earnings,

excluding reportable

catastrophes

SNL (S&P Capital IQ Market

Intelligence)

Operating income after taxes (defined above), excluding reportable

catastrophes