Insurance solutions provider Assurant Inc. (AIZ) on Monday reported sharply higher first-quarter net profit, driven by lower catastrophe losses and strong performance in its Global Lifestyle segment.
Net income rose to $274.1 million, or $5.41 per share, from $146.6 million, or $2.83 per share, in the same period last year. Adjusted earnings per share climbed to $5.95 from $3.39.
Total revenues increased to $3.42 billion from $3.07 billion a year ago.
The improvement in earnings was primarily due to significantly lower reportable catastrophe losses, along with higher earnings in the Global Lifestyle segment.
Assurant raised its full-year 2026 outlook and expects adjusted EBITDA and adjusted earnings per share to grow at a low single-digit rate.
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