Record Q2 earnings deliver 10th consecutive year of growth
Assurant delivered a record Q2 2026 with strong growth across Connected Living, Global Auto, and Global Housing. The company raised its full-year 2026 guidance, exhibiting high confidence. Key developments include a major new lender-placed win (Freedom Mortgage), continued expansion in reverse logistics, and strong subscriber momentum in device protection. Q2 2026 adjusted EBITDA grew 18% ex-cats; adjusted EPS grew 19% ex-cats.
Buzzberg readRecord Q2 earnings deliver 10th consecutive year of growthAssurant delivered a record Q2 2026 with strong growth across Connected Living, Global Auto, and Global Housing. The company raised its full-year 2026 guidance, exhibiting high confidence. Key developments include a major new lender-placed win (Freedom Mortgage), continued expansion in reverse logistics, and strong subscriber momentum in device protection. Q2 2026 adjusted EBITDA grew 18% ex-cats; adjusted EPS grew 19% ex-cats.Read full analysisCollapse analysis
Assurant delivered a record Q2 2026 with strong growth across Connected Living, Global Auto, and Global Housing. The company raised its full-year 2026 guidance, exhibiting high confidence. Key developments include a major new lender-placed win (Freedom Mortgage), continued expansion in reverse logistics, and strong subscriber momentum in device protection. Q2 2026 adjusted EBITDA grew 18% ex-cats; adjusted EPS grew 19% ex-cats.
Global Lifestyle grew 21% with Connected Living up 29% (or 22% normalized for one-time benefits).
Global Housing ex-cats EBITDA grew 18% in Q2, driven by strong loss ratios and new business wins like Freedom Mortgage (2.6M loans).
Record Q2 earnings deliver 10th consecutive year of growth
Guidance tone
02
Demand
Freedom Mortgage win adds 2.6M loans to lender-placed
Multiple new program wins were announced across businesses, including with T-Mobile (reverse logistics), Freedom Mortgage (lender-placed), and new partnerships in home warranty. Device protection subscribers grew by over 4 million, and the company noted a strong pipeline of…
03
Demand
Device protection subscribers grew by 4 million
Multiple new program wins were announced across businesses, including with T-Mobile (reverse logistics), Freedom Mortgage (lender-placed), and new partnerships in home warranty. Device protection subscribers grew by over 4 million, and the company noted a strong pipeline of…
04
Guidance
Company raises outlook for 2026
Guidance tone
AI, capex & demand read
AI
Platform & monetization
Management emphasized investments in data, automation, and AI, which help operate with greater speed and precision, improve decision-making, and strengthen support for clients and consumers. They highlighted that these capabilities create value throughout the client journey and are difficult to replicate.
Demand
Bookings & conversion
Multiple new program wins were announced across businesses, including with T-Mobile (reverse logistics), Freedom Mortgage (lender-placed), and new partnerships in home warranty. Device protection subscribers grew by over 4 million, and the company noted a strong pipeline of growth opportunities across segments. Management sounded confident in momentum continuing into 2027.
Capex
Investment and capacity
Management noted they are making targeted investments in technology, capabilities, innovation, and customer experience, which have supported momentum in connected living. They did not provide specific dollar amounts or a change in capex direction, but indicated continued investments for long-term growth.
Tone · Upbeat
Management expressed pride in record results, raised full-year guidance, and highlighted strong momentum across all segments, indicating a positive and confident outlook.
Supply-chain alpha
A1
Connected Living EBITDA growth was 29% in Q2, including ~$10M in non-run-rate benefits from a client adjustment in extended service contracts and an international tax benefit; normalized growth was 22%.
“Results included non-run rate benefits of approximately $10 million from a client adjustment within extended service contracts and an international tax benefit within mobile. When normalized for these non-run rate items, Connected Living a…”
Assurant serviced over 7 million devices in Q2, up ~1.8 million year-over-year, driven by new reverse logistics programs — a 35% surge in volume.
“Our growing global supply chain business, which includes reverse logistics, trade-in and upgrade, claims fulfillment, and other capabilities, serviced over 7 million devices, an increase of approximately 1.8 million compared to last year,…”
Assurant added over 4 million devices protected across U.S. and international partnerships in the last year.
“Within device protection programs, we continued to see strong subscriber growth over the last year, adding over 4 million devices protected across our U.S. and international partnerships.”
Lender-placed placement rate was 2.02% — down sequentially but flat year-over-year — due to a client transferring a block of loans with higher-than-average placement rate to a non-Assurant servicer.
“Although relatively flat year over year, our placement rate was down sequentially. During the quarter, a client transferred a portion of their loan portfolio to another loan servicer which was not an assurant client.”
Migration of U.S. Cellular's in-force business to Assurant under T-Mobile's umbrella increases device protection penetration and reverse logistics volume for U.S. Cellular's postpaid base.
“migrating U.S. Cellular's large, in-force business and launching a new reverse logistics program through a co-located facility.”
… clients and continued optimization of recently added programs. Targeted investments in technology, capabilities, innovation, and customer experience have supported significant momentum across the business and have created multiple growth vectors to support ongoing earnings growth. Our momentum is undeniable, and we're incredibly proud of how we've strengthened our market position. We've expanded and reinforced our relationship with T-Mobile, migrating U.S. Cellular's large, in-force business and launching a new reverse logistics program through a co-located facility. We've made tremendous progress as we continue to expand and deepen partnerships with all other large U.S. mobile carriers and cable operators. We're driving growth through the optimization of programs across mobile, extended service contracts, and financial services. including key wins with Telstra, Best Buy, and Chase Card Services. We're extending our presence into adjacent markets, including home warranty, where our partnership with the largest U.S. brokerage continues to progress. And internationally, we're expanding capabilities, deepening client relationships, and increasing our presence in key markets …
Expanded relationship with T-Mobile (including U.S. Cellular migration) signals deeper integration and higher volume of device protection/logistics business through Assurant, supporting T-Mobile's postpaid device attach rates.
“We've expanded and reinforced our relationship with T-Mobile, migrating U.S. Cellular's large, in-force business and launching a new reverse logistics program through a co-located facility.”
… benefiting from growth with existing clients and continued optimization of recently added programs. Targeted investments in technology, capabilities, innovation, and customer experience have supported significant momentum across the business and have created multiple growth vectors to support ongoing earnings growth. Our momentum is undeniable, and we're incredibly proud of how we've strengthened our market position. We've expanded and reinforced our relationship with T-Mobile, migrating U.S. Cellular's large, in-force business and launching a new reverse logistics program through a co-located facility. We've made tremendous progress as we continue to expand and deepen partnerships with all other large U.S. mobile carriers and cable operators. We're driving growth through the optimization of programs across mobile, extended service contracts, and financial services. including key wins with Telstra, Best Buy, and Chase Card Services. We're extending our presence into adjacent markets, including home warranty, where our partnership with the largest U.S. brokerage continues to progress. And internationally, we're expanding capabilities, deepening client relationships, and …
Winning new programs with Telstra indicates Assurant is expanding its international mobile device protection footprint, potentially displacing incumbent providers in Australia.
“including key wins with Telstra, Best Buy, and Chase Card Services.”
… position. We've expanded and reinforced our relationship with T-Mobile, migrating U.S. Cellular's large, in-force business and launching a new reverse logistics program through a co-located facility. We've made tremendous progress as we continue to expand and deepen partnerships with all other large U.S. mobile carriers and cable operators. We're driving growth through the optimization of programs across mobile, extended service contracts, and financial services. including key wins with Telstra, Best Buy, and Chase Card Services. We're extending our presence into adjacent markets, including home warranty, where our partnership with the largest U.S. brokerage continues to progress. And internationally, we're expanding capabilities, deepening client relationships, and increasing our presence in key markets around the world, particularly within mobile and extended service contracts. Our competitive position has enabled us to create differentiated value across the connected living value chain. Turning to global automotive, earnings increased in the quarter, supported by growth in global partnerships. We also continue to see loss improvement. Year-to-date, adjusted EBITDA has …
New lender-placed insurance win with Freedom Mortgage adds ~2.6M loans to Assurant's tracked portfolio, enhancing its position in the mortgage servicing market and validating the strength of its platform against competitors.
… losses, supporting homeowners and helping preserve long-term property values. As we scale the business and continue to invest in AI and other technology, data, and operational capabilities, we're enhancing the customer experience, improving efficiency, and delivering value for clients, homeowners, and policyholders. We're very pleased to announce a new partnership in our lender-placed business. During the second quarter, we began providing lender-placed insurance services to Freedom Mortgage a top 10 U.S. mortgage servicing partner with approximately 2.6 million loans, further enhancing our market position and validating the competitive strength of our offerings. This partnership is the result of our operational excellence and commitment to delivering an exceptional customer experience. We continue to see additional opportunities to add new partnerships across the servicing market. Within renters, Our Cover360 platform remains a key growth driver. After the second quarter launch of a new partner, we now serve seven of the top 10 property management companies. Through deeper integration with PMC partners, Cover360 continues to improve penetration rates and coverage. Overall, …
🍪 Cookies
We use cookies to operate this site and for analytics. Declining won't affect your access to content.