v3.26.1
Fair Value Disclosures (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value for Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present the Company’s fair value hierarchy for assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025. The amounts presented below for short-term investments, other investments, cash equivalents, other assets and other liabilities differ from the amounts presented in the consolidated balance sheets because only certain investments or certain assets and liabilities within these line items are measured at estimated fair value. Other investments are comprised of investments in the Assurant Investment Plan (“AIP”), the American Security Insurance Company Investment Plan, the Assurant Deferred Compensation Plan, the Retiree Medical Pension 401(h), and other derivatives. Other liabilities are comprised of investments in the AIP, contingent considerations related to business
combinations and other derivatives. The fair value amounts presented for other investments are received directly from third parties.  
June 30, 2026
Total
Level 1
Level 2
Level 3
Financial Assets
Fixed maturity securities:
U.S. government and government agencies and authorities
$
62.8 
$
— 
  
$
62.8 
  
$
— 
  
States, municipalities and political subdivisions
93.7 
— 
  
93.7 
  
— 
  
Foreign governments
642.6 
— 
  
642.6 
  
— 
  
Asset-backed
856.8 
— 
  
709.7 
  
147.1 
Commercial mortgage-backed
467.0 
— 
  
464.8 
  
2.2 
  
Residential mortgage-backed
1,081.2 
— 
  
1,077.2 
  
4.0 
  
U.S. corporate
3,936.2 
— 
3,832.6 
103.6 
Foreign corporate
1,849.2 
— 
  
1,823.0 
  
26.2 
  
Equity securities:
Mutual funds
38.1 
15.9 
— 
22.2 
Common stocks
2.2 
2.2 
  
— 
  
— 
Non-redeemable preferred stocks
155.4 
— 
  
154.9 
  
0.5 
  
Short-term investments
282.3 
257.1 
(2)
25.2 
(3)
— 
  
Other investments
78.6 
78.6 
(1)
— 
— 
Cash equivalents
1,230.0 
1,212.8 
(2)
17.2 
(3)
— 
  
Other assets
2.7 
— 
— 
2.7 
(4)
Total financial assets
$
10,778.8 
$
1,566.6 
  
$
8,903.7 
  
$
308.5 
  
Financial Liabilities
Other liabilities
$
99.8 
$
73.1 
(1)
$
— 
$
26.7 
(5)
Total financial liabilities
$
99.8 
$
73.1 
  
$
— 
  
$
26.7 
  
December 31, 2025
Total
Level 1
Level 2
Level 3
Financial Assets
Fixed maturity securities:
U.S. government and government agencies and authorities
$
62.9 
$
— 
$
62.9 
$
— 
States, municipalities and political subdivisions
96.1 
— 
96.1 
— 
Foreign governments
593.9 
— 
593.9 
— 
Asset-backed
845.7 
— 
715.9 
129.8 
Commercial mortgage-backed
417.4 
— 
417.4 
— 
Residential mortgage-backed
954.7 
— 
954.7 
— 
U.S. corporate
3,877.6 
— 
3,812.0 
65.6 
Foreign corporate
1,729.4 
— 
1,721.5 
7.9 
Equity securities:
Mutual funds
37.3 
16.1 
— 
21.2 
Common stocks
2.0 
2.0 
— 
— 
Non-redeemable preferred stocks
167.8 
— 
167.5 
0.3 
Short-term investments
336.3 
329.0 
(2)
7.3 
(3)
— 
Other investments
72.2 
72.2 
(1)
— 
— 
Cash equivalents
1,349.3 
1,335.5 
(2)
13.8 
(3)
— 
Other assets
6.4 
— 
  
— 
6.4 
(4)
Total financial assets
$
10,549.0 
$
1,754.8 
$
8,563.0 
$
231.2 
Financial Liabilities
Other liabilities
$
85.0 
$
62.7 
(1)
$
— 
$
22.3 
(5)
Total financial liabilities
$
85.0 
$
62.7 
$
— 
$
22.3 
(1)Primarily includes mutual funds and related obligations.
(2)Primarily includes money market funds.
(3)Primarily includes fixed maturity securities.
(4)Primarily includes derivatives.
(5)Includes contingent consideration liabilities and other derivatives.
Schedule of Carrying Value and Fair Value of the Financial Instruments That are Not Recognized or are Not Carried at Fair Value
The following tables disclose the carrying value, fair value and hierarchy level of the financial instruments that are not recognized or are not carried at fair value in the consolidated balance sheets as of the dates indicated:
June 30, 2026
Fair Value
Carrying Value
Total
Level 1
Level 2
Level 3
Financial Assets
Commercial mortgage loans on real estate
$
305.4 
$
300.6 
$
— 
$
— 
$
300.6 
Other investments
16.9 
16.9 
1.1 
— 
15.8 
Other assets
27.4 
27.4 
— 
— 
27.4 
Total financial assets
$
349.7 
$
344.9 
$
1.1 
$
— 
$
343.8 
Financial Liabilities
Policy reserves under investment products (Individual and group annuities, subject to discretionary withdrawal) (1)
$
1.7 
$
1.7 
$
— 
$
1.7 
Funds withheld under reinsurance
282.0 
282.0 
282.0 
— 
— 
Debt
2,208.1 
2,134.1 
— 
2,134.1 
— 
Total financial liabilities
$
2,491.8 
$
2,417.8 
$
282.0 
$
2,134.1 
$
1.7 
December 31, 2025
Fair Value
  
Carrying Value
Total
Level 1
Level 2
Level 3
Financial Assets
Commercial mortgage loans on real estate
$
324.7 
$
323.1 
$
— 
$
— 
$
323.1 
Other investments
12.4 
12.4 
1.1 
— 
11.3 
Other assets
31.3 
31.3 
— 
— 
31.3 
Total financial assets
$
368.4 
$
366.8 
$
1.1 
$
— 
$
365.7 
Financial Liabilities
Policy reserves under investment products (Individual and group annuities, subject to discretionary withdrawal) (1)
$
1.8 
$
1.8 
$
— 
$
— 
$
1.8 
Funds withheld under reinsurance
266.4 
266.4 
266.4 
— 
— 
Debt
2,206.9 
2,164.5 
— 
2,164.5 
— 
Total financial liabilities
$
2,475.1 
$
2,432.7 
$
266.4 
$
2,164.5 
$
1.8 
(1)Only the fair value of the Company’s policy reserves for investment-type contracts (those without significant mortality or morbidity risk) are reflected in the tables above.