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Schedule II – Condensed Financial Statements (Parent Only)
 12 Months Ended
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]  
Schedule II – Condensed Financial Statements (Parent Only)
Schedule II – Condensed Balance Sheet (Parent Only)
 December 31,
 20232022
 (in millions, except number
of shares)
Assets
Investments:
Equity investment in subsidiaries$5,945.1 $5,670.9 
Fixed maturity securities available for sale, at fair value (amortized cost – $492.2 and $326.0 at December 31, 2023 and 2022, respectively)
488.6 306.1 
Short-term investments15.7 16.2 
Other investments79.5 83.0 
Total investments6,528.9 6,076.2 
Cash and cash equivalents106.2 126.8 
Receivable from subsidiaries, net77.7 81.8 
Income tax receivable10.9 13.0 
Accrued investment income4.6 2.4 
Property and equipment, at cost less accumulated depreciation327.5 197.5 
Other assets126.2 169.7 
Total assets$7,182.0 $6,667.4 
Liabilities
Accounts payable and other liabilities$291.9 $308.8 
Debt2,080.6 2,129.9 
Total liabilities2,372.5 2,438.7 
Stockholders’ equity
Common stock, par value $0.01 per share, 800,000,000 shares authorized, 54,252,083 and 55,126,470 shares issued and 51,955,994 and 52,830,381 shares outstanding at December 31, 2023 and 2022, respectively
0.6 0.6 
Additional paid-in capital1,668.5 1,637.8 
Retained earnings4,028.2 3,699.3 
Accumulated other comprehensive loss(765.0)(986.2)
Treasury stock, at cost; 2,296,089 shares at December 31, 2023 and 2022
(122.8)(122.8)
Total stockholders’ equity4,809.5 4,228.7 
Total liabilities and stockholders’ equity$7,182.0 $6,667.4 
See the accompanying Notes to the Parent Only Condensed Financial Statements
Schedule II – Condensed Income Statement (Parent Only)
 Years Ended December 31,
 202320222021
 (in millions)
Revenues
Net investment income$21.0 $13.8 $12.6 
Net realized losses on investments and fair value changes to equity securities(9.8)(35.8)(1.3)
Fees and other income318.8 283.9 290.5 
Equity in net income of subsidiaries786.3 462.1 805.6 
Total revenues1,116.3 724.0 1,107.4 
Expenses
General and administrative expenses419.0 402.4 426.8 
Interest expense108.0 108.3 111.8 
(Gain) loss on extinguishment of debt (Note 19 to the Consolidated Financial Statements)(0.1)0.9 20.7 
Total expenses526.9 511.6 559.3 
Income from continuing operations before benefit for income taxes589.4 212.4 548.1 
Benefit for income taxes(53.1)(64.2)(54.8)
Net income from continuing operations642.5 276.6 602.9 
Net income from discontinued operations (Note 4 to the Consolidated Financial Statements)— — 758.9 
Net income attributable to stockholders$642.5 $276.6 $1,361.8 

See the accompanying Notes to the Parent Only Condensed Financial Statements
Schedule II – Condensed Statements of Comprehensive Income (Parent Only)
Years Ended December 31,
202320222021
(in millions)
Net income$642.5 $276.6 $1,361.8 
Other comprehensive income (loss):
Change in unrealized gains on securities, net of taxes of $(3.4), $4.5 and $1.2 for the years ended December 31, 2023, 2022 and 2021, respectively
29.0 (20.2)(7.8)
Change in unrealized gains on derivative transactions, net of taxes of $0.3, $0.7 and $0.6 for the years ended December 31, 2023, 2022 and 2021, respectively
(1.3)(2.6)(2.3)
Change in foreign currency translation, net of taxes of $0.0, $0.4 and $(0.4) for the years ended December 31, 2023, 2022 and 2021, respectively
— (1.4)1.4 
Amortization of pension and postretirement unrecognized net periodic benefit cost and change in funded status, net of taxes of $7.2, $(0.8) and $(3.9) for the years ended December 31, 2023, 2022 and 2021, respectively
(27.1)3.0 14.6 
Change in subsidiary other comprehensive income220.6 (815.0)(865.7)
Total other comprehensive income (loss)221.2 (836.2)(859.8)
Total comprehensive income attributable to stockholders$863.7 $(559.6)$502.0 

See the accompanying Notes to the Parent Only Condensed Financial Statements
Schedule II – Condensed Cash Flows (Parent Only)
 Years Ended December 31,
 202320222021
 (in millions)
Operating Activities
Net cash provided by operating activities - discontinued operations$— $— $11.7 
Net cash provided by operating activities - continuing operations345.1 209.0 385.5 
Net cash provided by operating activities345.1 209.0 397.2 
Investing Activities
Sales of:
Fixed maturity securities available for sale183.4 659.0 575.0 
Equity securities— 5.0 0.8 
Other invested assets8.0 2.2 4.7 
Property, buildings and equipment1.0 3.1 0.1 
Subsidiary, net of cash transferred (1)— 4.8 1,342.9 
Maturities, calls, prepayments, and scheduled redemption of:
Fixed maturity securities available for sale172.2 178.4 70.9 
Purchases of:
Fixed maturity securities available for sale(155.4)(3.9)(1,231.4)
Equity securities— (1.5)— 
Other invested assets— (0.2)(0.7)
Property and equipment and other(175.1)(145.6)(123.1)
Capital contributed to subsidiaries(8.9)(91.8)(67.0)
Return of capital contributions from subsidiaries 7.1 10.5 2.5 
Change in short-term investments3.4 33.4 (76.6)
Other— (0.1)— 
Net cash provided by investing activities35.7 653.3 498.1 
Financing Activities
Issuance of debt, net of issuance costs (Note 19 to the Consolidated Financial Statements)173.2 — 347.2 
Repayment of debt (Note 19)(225.0)(75.9)(419.8)
Acquisition of common stock(193.1)(572.8)(839.3)
Preferred stock dividends paid— — (4.7)
Common stock dividends paid(152.3)(150.2)(157.6)
Employee stock purchases and withholdings(4.2)(19.5)(15.6)
Net cash used in financing activities(401.4)(818.4)(1,089.8)
Change in cash and cash equivalents(20.6)43.9 (194.5)
Cash and cash equivalents at beginning of period126.8 82.9 277.4 
Cash and cash equivalents at end of period$106.2 $126.8 $82.9 
(1)Amount for the year ended December 31, 2021 related to the sale of the disposed Global Preneed business. For additional information, refer to Note 4 to the Consolidated Financial Statements.

See the accompanying Notes to the Parent Only Condensed Financial Statements
Notes to the Parent Only Condensed Financial Statements
Assurant, 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, 2023 filed with the Securities and Exchange Commission on February 15, 2024.