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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Schedule of Financial Information by Segment | The following tables provide information about the segments’ Adjusted EBITDA.
| Three Months Ended March 31, |  |
| 2026 |  | 2025 |  |  |  |
Global Lifestyle: |  |  |  |  |  |  |
Net earned premiums, fees and other income: |  |  |  |  |  |  |
Connected Living | $ | 1,480.2 |  |  | $ | 1,233.4 |  |  |  |  |
Global Automotive | 1,070.8 |  |  | 1,073.2 |  |  |  |  |
Net investment income | 108.9 |  |  | 84.0 |  |  |  |  |
Total revenues | 2,659.9 |  |  | 2,390.6 |  |  |  |  |
Policyholder benefits | 503.7 |  |  | 442.4 |  |  |  |  |
Selling and underwriting expense (1) | 1,327.2 |  |  | 1,265.8 |  |  |  |  |
Cost of sales (2) | 265.0 |  |  | 184.8 |  |  |  |  |
General expenses (3) | 327.3 |  |  | 299.8 |  |  |  |  |
Segment Adjusted EBITDA | $ | 236.7 |  |  | $ | 197.8 |  |  |  |  |
Global Housing: |  |  |  |  |  |  |
Net earned premiums, fees and other income: |  |  |  |  |  |  |
Homeowners | $ | 580.1 |  |  | $ | 522.9 |  |  |  |  |
Renters and Other | 149.0 |  |  | 133.9 |  |  |  |  |
Net investment income | 40.7 |  |  | 33.7 |  |  |  |  |
Total revenues | 769.8 |  |  | 690.5 |  |  |  |  |
Policyholder benefits | 263.9 |  |  | 333.0 |  |  |  |  |
Selling and underwriting expense (1) | 59.9 |  |  | 39.5 |  |  |  |  |
General expenses (4) | 209.3 |  |  | 205.6 |  |  |  |  |
Segment Adjusted EBITDA | $ | 236.7 |  |  | $ | 112.4 |  |  |  |  |
Corporate: |  |  |  |  |  |  |
Fees and other income | $ | — |  |  | $ | 0.4 |  |  |  |  |
Net investment income | 9.3 |  |  | 5.8 |  |  |  |  |
Total revenues | 9.3 |  |  | 6.2 |  |  |  |  |
Policyholder benefits | — |  |  | — |  |  |  |  |
General expenses (3) | 41.2 |  |  | 34.2 |  |  |  |  |
Segment Adjusted EBITDA | $ | (31.9) |  |  | $ | (28.0) |  |  |  |  |
(1)Consists primarily of commissions, premium taxes and amortization of deferred acquisition costs. (2)Consists primarily of costs to acquire, and repair or refurbish mobile and other electronic devices the Company sells to third-parties. (3)Consists primarily of licenses, fees, and general operating expenses. (4)Consists primarily of lender-placed tracking, licenses, fees, and general operating expenses. The following table presents total assets by segment:
| March 31, 2026 |  | December 31, 2025
Global Lifestyle (1) | $ | 29,083.4 |  |  | $ | 28,846.7 |
Global Housing (1) | 5,158.0 |  |  | 5,159.2 |
Corporate and Other (2) | 1,527.1 |  |  | 2,283.7 |
Segment assets | $ | 35,768.5 |  |  | $ | 36,289.6 |
(1)Segment assets for Global Lifestyle and Global Housing do not include net unrealized gains (losses) on securities attributable to those segments, which are all included within Corporate and Other. (2)Corporate and Other included the assets held for sale of $512.4 million as of December 31, 2025, related to the sale of a subsidiary, and $46.0 million of assets related to the Miami, Florida property as of both March 31, 2026 and December 31, 2025, which met held-for-sale criteria and was included in other assets. Refer to Note 4 for more information on the sale of a subsidiary. During first quarter 2025, the Company entered into an agreement to sell the Miami, Florida property to a buyer for a purchase price of $126.0 million, subject to certain adjustments. The transaction is subject to the buyer receiving the requisite development approvals from relevant state and local government authorities, including approvals relating to land use, rezoning and site plan. There can be no assurance that the transaction will be consummated. The Company has ceased depreciation of these assets which are recorded at carrying value, which is less than the estimated fair value less estimated costs to sell.
Schedule of Segment Adjusted EBITDA with Reconciliation to Net income | The following table presents segment Adjusted EBITDA with a reconciliation to net income:
| Three Months Ended March 31, |  |
| 2026 |  | 2025 |  |  |  |
Adjusted EBITDA by segment: |  |  |  |  |  |  |
Global Lifestyle | $ | 236.7 |  |  | $ | 197.8 |  |  |  |  |
Global Housing | 236.7 |  |  | 112.4 |  |  |  |  |
Corporate and Other | (31.9) |  |  | (28.0) |  |  |  |  |
Reconciling items to consolidated net income: |  |  |  |  |  |  |
Interest expense | (28.3) |  |  | (26.8) |  |  |  |  |
Depreciation expense | (43.3) |  |  | (35.1) |  |  |  |  |
Amortization of purchased intangible assets | (17.7) |  |  | (18.4) |  |  |  |  |
Net realized losses on investments and fair value changes to equity securities | (21.2) |  |  | (16.0) |  |  |  |  |
Other adjustments | 4.6 |  |  | (2.2) |  |  |  |  |
Total reconciling items | (105.9) |  |  | (98.5) |  |  |  |  |
Income before income tax expense | 335.6 |  |  | 183.7 |  |  |  |  |
Income tax expense | 61.5 |  |  | 37.1 |  |  |  |  |
Net income | $ | 274.1 |  |  | $ | 146.6 |  |  |  |  |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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