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Assurant AIZ Long Duration — Direct policyholder benefits

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CLOVInsurance Operations — Claims incurred, gross
$384.46M+55.6%

Other financials

Income statement

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Revenue$3.5B+9.4%
Net income$298.6M+26.9%
EPS (diluted)$5.95+30.5%

Balance sheet

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Cash & equivalents$1.7B+14.3%
Total debt$73.9M+18.4%
Total equity$6.1B+10.9%
Total assets$36.1B+1.6%

Cash flow

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Operating cash flow$454.4M+71.1%
CapEx$45.2M-24.5%
Free cash flow$409.2M+99.0%

Valuation

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Market cap$14.94B+40.3%
P/E14.1×-0.8×
P/S1.1×+0.2×

Profitability

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Net margin7.9%+2.1pp
FCF margin12.3%+4.4pp

Returns & leverage

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Return on equity18.3%+4.7pp
Debt / equity0.0×

Where this comes from

Reported directly by Assurant in its filing.

Tagged under the XBRL concept us-gaap:PolicyholderBenefitsAndClaimsIncurredGross.

The source filing: Assurant’s 10-K, filed February 19, 2026.

Filed
Feb 19, 2026, 4:19 PM EST
Fiscal year
FY2025
Accession
0001267238-26-000010
Line itemYears Ended December 31, 2025 / Long DurationYears Ended December 31, 2025 / Short DurationYears Ended December 31, 2025 / TotalYears Ended December 31, 2024 / Long DurationYears Ended December 31, 2024 / Short DurationYears Ended December 31, 2024 / TotalYears Ended December 31, 2023 / Long DurationYears Ended December 31, 2023 / Short DurationYears Ended December 31, 2023 / Total
Direct earned premiums$12.4$19,379.7$19,392.1$13.4$18,820.1$18,833.5$14.4$18,308.4$18,322.8
Premiums assumed408.2408.2178.6178.6186.4186.4
Premiums ceded(7.6)(9,309.8)(9,317.4)(8.0)(9,208.3)(9,216.3)(7.9)(9,113.3)(9,121.2)
Net earned premiums$4.8$10,478.1$10,482.9$5.4$9,790.4$9,795.8$6.5$9,381.5$9,388.0
Direct policyholder benefits$37.2$7,975.4$8,012.6$33.7$8,777.1$8,810.8$36.5$7,568.2$7,604.7
Policyholder benefits assumed242.8242.80.1276.9277.0241.9241.9
Policyholder benefits ceded(33.7)(5,293.9)(5,327.6)(30.3)(6,291.0)(6,321.3)(31.8)(5,293.0)(5,324.8)
Net policyholder benefits$3.5$2,924.3$2,927.8$3.5$2,763.0$2,766.5$4.7$2,517.1$2,521.8

Item 16. Form 10-K Summary

FAQ

What is Assurant's long duration — direct policyholder benefits?
Assurant (AIZ) reported long duration — direct policyholder benefits of $9.3M in Q4 2025.
How has Assurant's long duration — direct policyholder benefits changed year-over-year?
Assurant's long duration — direct policyholder benefits increased by 10.4% year-over-year, from $8.43M to $9.3M.
What is the long-term trend for Assurant's long duration — direct policyholder benefits?
Over 4 years (2021 to 2025), Assurant's long duration — direct policyholder benefits has grown at a -41.7% compound annual growth rate (CAGR), from $322.2M to $37.2M.
What does long duration — direct policyholder benefits mean?
The total claims and benefit payments incurred by the company for long-duration policies before accounting for reinsurance recoveries. This reflects the gross cost of fulfilling policy obligations.

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