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Schedule II - Parent Only Condensed Financial Statements
 12 Months Ended
Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]  
Schedule II - Parent Only Condensed Financial Statements
Schedule II – Condensed Balance Sheet (Parent Only)
 December 31,
 20202019
 (in millions, except number
of shares)
Assets
Investments:
Equity investment in subsidiaries$7,620.2 $6,915.8 
Fixed maturity securities available for sale, at fair value (amortized cost – $127.6 and $256.6 at December 31, 2020 and 2019, respectively)
139.2 269.5 
Equity securities at fair value4.7 6.4 
Short-term investments8.1 2.7 
Other investments108.7 112.7 
Total investments7,880.9 7,307.1 
Cash and cash equivalents277.4 256.7 
Receivable from subsidiaries, net47.4 74.8 
Income tax receivable41.4 — 
Accrued investment income1.2 2.3 
Property and equipment, at cost less accumulated depreciation190.0 174.8 
Other assets70.9 77.4 
Total assets$8,509.2 $7,893.1 
Liabilities
Accounts payable and other liabilities$304.9 $222.1 
Income tax payable— 11.3 
Debt2,252.9 2,006.9 
Total liabilities2,557.8 2,240.3 
Commitments and Contingencies
Stockholders’ equity
6.50% Series D mandatory convertible preferred stock, par value $1.00 per share, 2,875,000 shares authorized, issued and outstanding at December 31, 2020 and 2019, respectively
2.9 2.9 
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 62,967,808 and 161,607,866 shares issued and 57,967,808 and 59,945,893 shares outstanding at December 31, 2020 and 2019, respectively
0.6 1.6 
Additional paid-in capital1,956.8 4,537.7 
Retained earnings3,548.7 5,966.4 
Accumulated other comprehensive income709.8 411.5 
Treasury stock, at cost; 5,000,000 and 101,661,973 shares at December 31, 2020 and 2019, respectively
(267.4)(5,267.3)
Total stockholders’ equity5,951.4 5,652.8 
Total liabilities and stockholders’ equity$8,509.2 $7,893.1 
See the accompanying Notes to the Parent Only Condensed Financial Statements
Schedule II – Condensed Income Statement (Parent Only)
 
 Years Ended December 31,
 202020192018
 (in millions)
Revenues
Net investment income$3.4 $10.8 $14.7 
Net realized gains (losses) on investments4.2 1.1 (0.1)
Fees and other income239.7 205.2 106.0 
Equity in net income of subsidiaries607.7 593.6 453.9 
Total revenues855.0 810.7 574.5 
Expenses
General and administrative expenses376.9 333.9 269.9 
Interest expense104.5 110.6 100.3 
Loss on extinguishment of debt— 31.4 — 
Total expenses481.4 475.9 370.2 
Income before benefit for income taxes373.6 334.8 204.3 
Benefit for income taxes(69.1)(52.0)(48.3)
Net income442.7 386.8 252.6 
Less: Net income attributable to non-controlling interest(0.9)(4.2)(1.6)
Net income attributable to stockholders$441.8 $382.6 $251.0 

See the accompanying Notes to the Parent Only Condensed Financial Statements
Schedule II – Condensed Statements of Comprehensive Income (Parent Only)
Years Ended December 31,
202020192018
(in millions)
Net income$442.7 $386.8 $252.6 
Other comprehensive income (loss):
Change in unrealized gains on securities, net of taxes of $—, $(4.3) and $3.0 for the years ended December 31, 2020, 2019 and 2018, respectively
0.1 16.3 (11.3)
Change in unrealized gains on derivative transactions, net of taxes of $0.6, $0.4 and $(4.9) for the years ended December 31, 2020, 2019 and 2018, respectively
(2.3)(1.3)18.4 
Change in foreign currency translation, net of taxes of $—, $— and $— for the years ended December 31, 2020, 2019 and 2018, respectively
(0.1)— — 
Amortization of pension and postretirement unrecognized net periodic benefit cost and change in funded status, net of taxes of $(3.2), $1.1 and $3.4 for the years ended December 31, 2020, 2019 and 2018, respectively
11.9 (4.2)(12.7)
Change in subsidiary other comprehensive income288.7 556.1 (431.9)
Total other comprehensive income (loss)298.3 566.9 (437.5)
Total comprehensive income (loss)741.0 953.7 (184.9)
Less: Net income attributable to non-controlling interest(0.9)(4.2)(1.6)
Total comprehensive income (loss) attributable to stockholders$740.1 $949.5 $(186.5)

See the accompanying Notes to the Parent Only Condensed Financial Statements
Schedule II – Condensed Cash Flows (Parent Only)
 Years Ended December 31,
 202020192018
 (in millions)
Operating Activities
Net cash provided by operating activities$644.0 $550.2 $548.8 
Investing Activities
Sales of:
Fixed maturity securities available for sale165.0 363.3 413.1 
Equity securities1.6 5.9 12.6 
Other invested assets9.6 15.8 74.1 
Property, buildings and equipment (1)37.3 3.3 0.1 
Subsidiary, net of cash transferred (2)— — 31.5 
Maturities, calls, prepayments, and scheduled redemption of:
Fixed maturity securities available for sale17.4 16.2 26.2 
Purchases of:
Fixed maturity securities available for sale(45.7)(328.8)(372.8)
Equity securities— (5.7)(2.8)
Other invested assets(3.6)(15.2)(38.8)
Property and equipment and other(82.9)(59.7)(31.9)
Subsidiary, net of cash transferred (3)— — (1,490.9)
Capital contributed to subsidiaries(592.2)(74.8)(61.0)
Return of capital contributions from subsidiaries 139.2 24.9 14.0 
Change in short-term investments(5.4)— 11.5 
Net cash used in investing activities(359.7)(54.8)(1,415.1)
Financing Activities
Issuance of debt, net of issuance costs (Note 19 to the Consolidated Financial Statements)243.7 346.7 1,285.7 
Borrowings under secured revolving credit facility200.0 — — 
Payments on secured revolving credit facility(200.0)— — 
Repayment of debt, including tender offer premium— (379.6)(350.0)
Issuance of mandatory convertible preferred stock, net of issuance costs (Note 19)— — 276.4 
Acquisition of common stock(297.0)(271.8)(139.3)
Preferred stock dividends paid(18.7)(18.7)(14.2)
Common stock dividends paid(154.6)(151.3)(133.8)
Employee stock purchases and withholdings(10.3)13.3 1.4 
Proceeds from transfer of rights to ACA recoverables (Note 4 to the Consolidated Financial Statements)— 26.7 — 
Proceeds paid back on transfer of rights to ACA recoverable(26.7)— — 
Other— — 0.1 
Net cash (used in) provided by financing activities(263.6)(434.7)926.3 
Change in cash and cash equivalents20.7 60.7 60.0 
Cash and cash equivalents at beginning of period256.7 196.0 136.0 
Cash and cash equivalents at end of period$277.4 $256.7 $196.0 
(1)Amount for the year ended December 31, 2020 related to the sale of a building from the Parent to a subsidiary (which is eliminated for consolidated reporting).
(2)Amounts for the year ended December 31, 2018 relate to cash received from the sale of Time Insurance Company ($23.9 million). For additional information, refer to Note 4 to the Consolidated Financial Statements.
(3)Amounts for the year ended December 31, 2018 primarily consist of $1.49 billion of cash used to fund a portion of the total purchase of the TWG acquisition, inclusive of the $595.9 million repayment of pre-existing TWG debt at the acquisition date.
See the accompanying Notes to the Parent Only Condensed Financial StatementsNotes to the Parent Only Condensed Financial StatementsAssurant, Inc.’s (the “Registrant”) investments in consolidated subsidiaries are stated at cost plus equity in income of consolidated subsidiaries. The accompanying Parent Only Condensed Financial Statements of the Registrant should be read in conjunction with the Consolidated Financial Statements and Notes thereto of the registrant and its subsidiaries included in the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 filed with the Securities and Exchange Commission on February 19, 2021.