Перейти к анализу отчёта
← Назад к ленте
AIZ FY2026 Q2 IMPROVING

Отчётный звонок Assurant, Inc.

Aug 05, 2026 · 08:00 ET Keith DemmingsKeith MeierSean Moshier
Вывод Buzzberg

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.

Вывод Buzzberg 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. Читать полный анализСвернуть анализ

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).
  • Full-year 2026 guidance raised: mid-single digit growth (incl. reserve development headwinds), ~10% underlying growth ex-reserve development.
Revenue $3.4542B +1% QoQ
EPS $6.41 +8% QoQ
Gross margin 78.34% reported
Op margin 10.91% reported

Что изменилось в этом квартале

01
Guidance

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, капзатраты и спрос

AI

Платформа и монетизация

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.

Спрос

Заказы и конверсия

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.

Капзатраты

Инвестиции и мощности

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.

Тон · Upbeat

Management expressed pride in record results, raised full-year guidance, and highlighted strong momentum across all segments, indicating a positive and confident outlook.

Альфа цепочки поставок

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…”
Keith Meier
A2

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,…”
Keith Meier
A3

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.”
Keith Meier
A4

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.”
Keith Meier

Прогноз компании

ImprovingGuidance tone · was IN LINE last Q
Прогноз компании
ПоказательПериодДиапазонСерединаСтатус
EPSFY20265%5%RAISED
EPSFY202610%10%RAISED

Сигналы по компаниям

USM
Непубличная компания
Клиенты

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.”
Keith Demmings
+6.7%
с момента звонка
$174.97$186.66
Клиенты

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.”
Keith Demmings
-7.4%
с момента звонка
$5.00$4.63
+2.8%
с момента звонка
$84.82$87.20
-0.9%
с момента звонка
$359.44$356.03
Клиенты

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.”
Keith Demmings
с момента звонка
Клиенты

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.