Is Assurant profitable?
Yes, Assurant is profitable. The company reported generally accepted accounting principles (GAAP) net income from continuing operations of $760 million in fiscal 2024, marking its eighth consecutive year of profitability. Adjusted earnings per share were $20.35, an increase of almost 19% from 2023.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the 12-month period that ended Dec. 31, 2024, dropped by 2% to $773 million from fiscal 2023. The decline was due to steeper-than-expected losses in its Global Automotive business, which provides extended vehicle warranties and GAP insurance. Elevated inflation, which translates to higher costs for vehicle replacement parts and labor, has been an ongoing challenge for the segment.
However, Assurant's Global Housing division, which provides several niche home insurance products -- like lender-placed insurance (policies that a mortgage servicer purchases on a homeowner's behalf if they don't obtain sufficient coverage), mobile home insurance, and renter's insurance -- was a standout in 2024. Excluding catastrophes, the segment generated more than $900 million in adjusted EBITDA. The Global Housing division renewed more than 10 major contracts and added Bank of America (BAC +0.75%) as a client.
Assurant's Connected Living division, which offers mobile device insurance and extended warranties for home devices and consumer electronics, grew its net premiums earned by almost 10% for the year. The division also renewed contracts with three of the five largest mobile carriers in the U.S. in fiscal 2024.
Does Assurant pay a dividend?
Yes, Assurant has paid a quarterly dividend since 2004 and has increased its payout every year since. The company's most recent quarterly dividend was $0.80 per share. Based on its share price as of mid-May 2025, that works out to an annual yield of 1.62%. Assurant has delivered compound annual dividend growth of over 14% annually since it started paying dividends 20 years ago.
