\n| \n (Unaudited)<\/b><\/p>\n<\/td>\n | \n Q2’25<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Q2’24<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Change<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 6M’25<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 6M’24<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Change<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n $ in millions<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n GAAP net income<\/b><\/p>\n<\/td>\n | \n 235.3<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 188.7<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 25%<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 381.9<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 425.1<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n (10)%<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted EBITDA<\/span><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGlobal Lifestyle<\/p>\n<\/td>\n | \n \n201.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n189.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n399.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n397.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGlobal Housing<\/p>\n<\/td>\n | \n \n214.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n160.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n33%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n326.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n353.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(8)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCorporate and Other<\/p>\n<\/td>\n | \n \n(29.8)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(27.2)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(10)%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(57.8)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(56.7)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(2)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted EBITDA1<\/sup><\/b><\/p>\n<\/td>\n| \n 386.0<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 323.4<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 19%<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 668.2<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 694.1<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n (4)%<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nReportable catastrophes<\/p>\n<\/td>\n | \n \n29.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n45.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n186.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n58.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted EBITDA, ex. reportable catastrophes<\/span><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGlobal Lifestyle2<\/sup><\/p>\n<\/td>\n| \n \n201.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n189.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n399.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n397.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGlobal Housing2<\/sup><\/p>\n<\/td>\n| \n \n244.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n206.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n18%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n513.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n411.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n25%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCorporate and Other<\/p>\n<\/td>\n | \n \n(29.8)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(27.2)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(10)%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(57.8)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(56.7)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(2)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n Adjusted EBITDA, ex. reportable catastrophes2<\/sup><\/b><\/p>\n<\/td>\n| \n 415.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 369.1<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 13%<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 855.0<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 752.8<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 14%<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nNote: Adjusted EBITDA of the Global Lifestyle, Global Housing, and Corporate and Other segments is the segment measure of profitability in our GAAP financial statements and includes reportable catastrophes. Some of the metrics throughout this press release are non-GAAP measures of performance. A full reconciliation of each non-GAAP measure to the most comparable GAAP measure can be found in the Non-GAAP Financial Measures section.<\/p>\n Second Quarter 2025 Consolidated Results<\/b><\/p>\n\n- GAAP net income<\/b> increased 25 percent to $235.3 million compared to second quarter 2024 of $188.7 million, primarily due to growth within Global Housing, lower reportable catastrophes, and growth within Global Lifestyle.\n<\/li>\n<\/ul>\n
\n- GAAP net income<\/b>per diluted share <\/b>increased 27 percent to $4.56 compared to second quarter 2024 of $3.58. The increase was primarily driven by the factors noted above and the impact of share repurchases.\n<\/li>\n<\/ul>\n
\n- Adjusted EBITDA1<\/sup><\/b>increased 19 percent to $386.0 million compared to the prior year period of $323.4 million, primarily due to growth within Global Housing, lower reportable catastrophes and growth within Global Lifestyle. Excluding reportable catastrophes, Adjusted EBITDA2<\/sup> increased 13 percent, or similar on a constant currency basis5<\/sup>, to $415.8 million, mainly due to the factors noted above.\n<\/li>\n<\/ul>\n
\n- Adjusted earnings, excluding reportable catastrophes, per diluted share<\/b>4<\/sup>, increased 17 percent to $5.56 compared to the prior year period of $4.77. The increase was driven by the factors noted above and the impact of share repurchases.\n<\/li>\n<\/ul>\n
\n- Net earned premiums, fees and other income <\/b>from the Global Lifestyle and Global Housing segments totaled $3.05 billion compared to second quarter 2024 of $2.82 billion , up 8 percent, or similar on a constant currency basis5<\/sup>, driven by growth in both Global Lifestyle and Global Housing.\n<\/li>\n<\/ul>\n
Global Lifestyle<\/b><\/p>\n\n\n| \n $ in millions<\/b><\/p>\n<\/td>\n | \n Q2’25<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Q2’24<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Change<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 6M’25<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 6M’24<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Change<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nAdjusted EBITDA<\/p>\n<\/td>\n | \n \n201.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n189.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n399.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n397.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet earned premiums, fees and other income<\/p>\n<\/td>\n | \n \n2,350.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,183.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n8%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,657.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n4,371.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n7%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n- Adjusted EBITDA <\/b>increased 6 percent compared to second quarter 2024, or 7 percent on a constant currency basis5<\/sup>,primarily due to Connected Living growth, which was mainly driven by higher contributions from global mobile protection and trade-in programs. Global Automotive results increased modestly from improved loss experience.\n<\/li>\n<\/ul>\n
\n- Net earned premiums, fees and other income <\/b>increased 8 percent compared to second quarter 2024, or similar on a constant currency basis5<\/sup>, primarily driven by Connected Living, mainly from the factors noted above, as well as a new program within financial services launched late last year.\n<\/li>\n<\/ul>\n
Global Housing<\/b><\/p>\n\n\n| \n $ in millions<\/b><\/p>\n<\/td>\n | \n Q2’25<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Q2’24<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Change<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 6M’25<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 6M’24<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Change<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nAdjusted EBITDA<\/p>\n<\/td>\n | \n \n214.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n160.9<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n33%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n326.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n353.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(8)%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nReportable catastrophes<\/p>\n<\/td>\n | \n \n29.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n45.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n186.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n58.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted EBITDA, ex. reportable catastrophes2<\/sup><\/p>\n<\/td>\n| \n \n244.2<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n206.4<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n18%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n513.3<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n411.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n25%<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nNet earned premiums, fees and other income<\/p>\n<\/td>\n | \n \n697.7<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n633.6<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,354.5<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,205.8<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n12%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n- Adjusted EBITDA <\/b>increased 33 percent compared to second quarter 2024. Results included $15.7 million of lower pre-tax reportable catastrophes. Excluding reportable catastrophes, Adjusted EBITDA2<\/sup> increased 18 percent, primarily from favorable non-catastrophe loss experience, including favorable prior period reserve development(a)<\/sup> and lower claims frequency. Top-line growth within Homeowners also contributed to the increase, including higher policies in-force which benefitted from voluntary insurance market pressure.
\n
(a) <\/sup>Second quarter 2025 had $33.9 million of favorable non-catastrophe prior period reserve development, of which $37.0 million was related to prior years, compared to $17.0 million of favorable non-catastrophe prior period reserve development in second quarter 2024. Year-to-date 2025 prior year reserve development was $63.4 million and year-to-date 2024 prior year reserve development was $46.6 million.<\/p>\n<\/li>\n<\/ul>\n\n- Net earned premiums, fees and other income<\/b> increased 10 percent compared to second quarter 2024, mainly driven by Homeowners top-line growth, including growth in policies in-force and higher average premiums within lender-placed and growth across various specialty products within Homeowners. Renters also contributed to growth.\n<\/li>\n<\/ul>\n
Corporate and Other<\/b><\/p>\n\n\n| \n $ in millions<\/b><\/p>\n<\/td>\n | \n Q2’25<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Q2’24<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Change<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 6M’25<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 6M’24<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Change<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nAdjusted EBITDA<\/p>\n<\/td>\n | \n \n(29.8)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(27.2)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(10)%<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(57.8)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(56.7)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(2)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n- Adjusted EBITDA loss<\/b> increased in second quarter 2025 compared to the prior year period, primarily driven by higher employee-related expenses and lower investment income.\n<\/li>\n<\/ul>\n
Holding Company Liquidity Position<\/b><\/p>\n | | | | | | | | | | | | | | |