Assurant AIZ Global Automotive — Prior years

For the years ended December 31, 2025, 2024 and 2023, non-core operations contributed net unfavorable loss development of $3.0 million, $13.6 million, and $40.1 million, including $0.0 million, $1.3 million and $(0.5) million from small commercial and $3.0 million, $12.3 million and $40.6 million from sharing economy products, respectively. The Company stopped writing new small commercial business in 2019 and the claims are in runoff. In 2023, the Company entered into a retroactive reinsurance treaty to cover certain known losses and adverse development up to a $50.0 million aggregate limit, relating to the small commercial business. For the year ended December 31, 2025, the net unfavorable development was primarily attributable to sharing economy due to the deterioration in the anticipated portion and amount of claims exceeding the per policy deductible. For the year ended December 31, 2024, the net unfavorable development in sharing economy was attributable to reserve increases related to higher settlement values, primarily for accident years 2019 and 2020. For the year ended December 31, 2023, the net unfavorable development from sharing economy was driven by emerging adverse claim development trends on known claims as well as reserve assumption revisions to reflect relevant industry benchmarks.