Page 1

ASSURANTⓇ Assurant Reports First Quarter 2021 Financial Results Strong Performance Led by More Favorable Loss Experience in Global Housing and Continued Growth in Global Automotive , Multifamily Housing and Connected Living Company Increases 2021 Outlook to Deliver Double - Digit EPS Growth , Ex . Catastrophes NEW YORK , May 4 , 2021 – Assurant , Inc. ( NYSE : AIZ ) , a leading global provider of lifestyle and housing solutions that support , protect and connect major consumer purchases , today reported results for the first quarter ended March 31 , 2021 . " Our first quarter results came in stronger than expected , due to more favorable loss experience in our specialty P & C products , as well as continued growth across our Global Automotive , Multifamily Housing and Connected Living businesses , " said Assurant President and CEO Alan Colberg . " Our success has been supported by the breadth and depth of our multi - channel distribution strategy across our businesses , together with an unrelenting focus on innovation , both of which have contributed to our significant growth . " Colberg added , " Following a strong start to the year , we now expect net operating income , excluding catastrophes , per diluted share to increase by 10 to 14 percent from continued profitable growth and share repurchases . Through the actions we've taken to focus our portfolio and drive momentum across our Connected World offerings , we continue to feel confident about the long - term growth opportunities across the global markets where we compete . " GAAP net income GAAP net income per diluted share Net operating income¹ Net operating income per diluted share² Net operating income , ex . reportable catastrophes³ Net operating income , ex . reportable catastrophes , per diluted share4 ( Unaudited ) $ in millions , except where noted ● ● ● ● Q1'21 148.5 $ 2.41 147.8 $ 2.47 182.3 $ 3.03 Q1'20 148.6 $ 2.32 302.2 148.5 $ 2.41 161.4 $ 2.61 Adjusted EBITDA , ex . reportable catastrophes5 First Quarter 2021 Summary : Net income was flat versus prior year period , while net income per diluted share increased 4 percent Net operating income , excluding reportable catastrophes³ , up 13 percent to $ 182.3 milion Net operating income , excluding reportable catastrophes , per diluted share * , up 16 percent to $ 3.03 Adjusted EBITDA , excluding reportable catastrophes5 , up 14 percent to $ 302.2 million Change 0 % 4 % 264.0 0 % 2 % 13 % 16 % 14 %