Assurant, Inc. FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$12.8B
Gross margin	— not reported
Operating income	— not reported
Net income	$872.7M
Diluted EPS	$16.93
Cash & equivalents	$1.8B
Total assets	$36.3B
Long-term debt	— not reported

Key takeaway

Assurant reported $12.81 billion in revenue and $872.7 million in net income for fiscal 2025, with an effective tax rate of 19.7%.

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Beneath the surface

Goodwill equals 45% of total equity and intangibles another 9%, meaning more than half of book value rests on assets vulnerable to impairment if future cash flow assumptions weaken.

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