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Assurant Reports First Quarter Earnings Transcript

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Assurant Q1 2024 Earnings Transcript

Assurant Reports First Quarter Earnings Transcript

Assurant delivered a strong first quarter, driven by continued strength in global housing and growth in global lifestyle.

Keith Demmings, President & CEO of Assurant Inc., highlighted the company's market leadership positions, competitive advantages, and unique business model, emphasizing the ability to achieve rate adequacy and deliver strong financial performance with attractive returns.

Keith Meier, Executive Vice President and CFO, discussed the company's first-quarter results in detail, including adjusted EBITDA growth of 31% to $384 million and adjusted EPS increasing by 42% to $4.97, both excluding reportable catastrophes.

The company reported continued growth in connected living, tech repairs, and partnerships with Telstra and Spectrum Mobile, along with an acquisition of iSmash to scale its walk-in repair offerings in the UK.

Looking ahead, Assurant continues to expect enterprise Adjusted EBITDA to grow by mid-single digits excluding cats. The company is committed to deep partner and end consumer understanding, executing on opportunities, and disciplined capital management to enable long-term growth.

For more information, the audio replay of the conference call will be available on the Assurant website.

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