Assurant Q3 GAAP net income falls 30% to $133.8 million; raises 2024 outlook
Assurant reported third quarter 2024 GAAP net income of $133.8 million, down 30% from a year earlier, as reportable catastrophes cut results, mainly in Global Housing. Excluding those catastrophes, adjusted earnings per share rose 9% to $5.08, and the company raised its 2024 outlook, which matters to shareholders because it signals stronger expected underlying earnings growth and planned share repurchases.
Key points
- GAAP net income was $133.8 million, down 30% from $190.1 million; diluted EPS was $2.55 versus $3.54.
- Reportable catastrophes totaled $138.2 million pre-tax in Q3 2024, compared with $26.4 million a year earlier.
- Adjusted EBITDA excluding catastrophes rose 8% to $385.1 million; 2024 outlook now calls for low double-digit growth in that measure and mid- to high-teens growth in adjusted EPS excluding catastrophes.
- The company expects to return $300 million through share repurchases in 2024, with $475 million remaining under its current authorization.
The filing
Written by AI on Nov 8, 2026, 1:11 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 05, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.