The company strategically deploys capital to support business growth through investments and acquisitions, pays dividends, and repurchases shares, indicating a balanced approach to capital allocation.

The company continues to expand its presence in key international markets across Europe, Latin America, and Asia Pacific to support its global client portfolio, indicating a commitment to international growth.

The opening of the Innovation and Device Care Center supports mobile device lifecycle solutions in Global Lifestyle and the development of new and innovative ways to leverage automation, robotics and artificial intelligence.

The company continues to drive ongoing expense leverage from its scale and operating efficiencies supported by ongoing technology innovation, indicating effective cost management.

The company completed contract renewals with several key clients including major U.S. mobile device protection clients, expanded offerings with existing clients and onboarded new client programs, indicating effective client relationship management.

The company introduced a new Sustainability vision focused on three areas: Connected Communities, Respected Resources and Protected Planet, indicating a commitment to ESG initiatives.

The company's revenues and profits may decline if it is unable to maintain relationships with significant clients, distributors and other parties, or renew contracts with them on favorable terms, or if those parties face financial, reputational or regulatory issues.

Significant competitive pressures, changes in customer preferences and disruption could adversely affect the company's results of operations, highlighting the need for continuous innovation and adaptation.

Catastrophe and non-catastrophe losses, including as a result of climate change and the current inflationary environment, could materially reduce the company's profitability and have a material adverse effect on results of operations and financial condition.

The company competes for business with many insurance companies, warranty and protection companies, financial services companies, mobile device repair and logistics companies, technology and software companies and specialized competitors.

Competition in each business is based on a number of factors, including scope of products and services offered, ability to tailor products and services to client and consumer needs, product features and terms, pricing, technology offerings, diversity of distribution resources, brand recognition, costs, financial strength and ratings, resources, and quality of service.

To remain competitive in many of our businesses, we must also anticipate and respond effectively to changes in customer preferences, new industry standards, evolving distribution models, disruptive technology developments and alternate business models.

As the company continues to improve operating efficiencies, it relies on vendors and other third parties, including independent contractors, to conduct business and provide services to clients.

The company continued its ongoing real estate consolidation to support work-from-home arrangements given our increasingly hybrid workforce, while making necessary investments in key facilities and markets to support the long-term strategy of the Company.

The Company uses the three lines of defense operating model to provide structure around risk management and internal controls, indicating a structured approach to operational risk management.

The company leverages insights to invest in emerging technologies and operations, including digital solutions supported by artificial intelligence (“AI”), to introduce innovative products and services and continuously adapt those offerings to the changing needs of consumers.

The company has also migrated many of its systems and applications to the cloud, which is key to our technology strategy.

The company is monitoring increased regulatory activity related to artificial intelligence, including machine learning tools. For example, the NAIC has adopted a model bulletin, The Use of Artificial Intelligence Systems by Insurers, to inform and articulate general expectations on how insurers will govern the development, acquisition and use of certain artificial intelligence technologies.

The company generally deploys capital to support business growth by funding investments and through acquisitions, to pay dividends and to repurchase shares, indicating a balanced approach.

In October 2024, we opened our Innovation and Device Care Center, which supports our mobile device lifecycle solutions in Global Lifestyle and the development of new and innovative ways to leverage automation, robotics and artificial intelligence.

Throughout the year, the company returned $455.8 million to shareholders through share repurchases and common stock dividends.

Assurant is a purpose-driven company that remains committed to integrating sustainability into our long-term strategy. In 2024, we introduced a new Sustainability vision focused on three areas: Connected Communities, Respected Resources and Protected Planet.

Our Board of Directors (the "Board"), Management Committee and global workforce understand the importance of our sustainability initiatives in supporting the successful execution of our long-term strategy.

We look for opportunities to embed circularity across our operations and to integrate programs and services into our suite of offerings that embrace circular practices to help our customers live connected lives.

In the lender-placed market, placement rates have increased in certain areas, due to reduced availability within the voluntary homeowners' insurance market, including in California and Texas.

The U.S. renters insurance market is a growing market with new building development, high occupancy and favorable relocation trends.

Our business is subject to fluctuations in mobile device trade-in and upgrade volumes based on the release of new devices and carrier promotional programs, as well as customer preferences.