ASSURANT, INC. : Costs Associated with Exit or Disposal Activities, Financial Statements and Exhibits (form 8-K)

Item 2.05. Costs associated with eviction or disposal activities.

upon December 13, 2022, Assurant Co., Ltd. (the “Company”) has finalized plans to achieve operational efficiencies by continuing to simplify its business portfolio and leverage its global footprint to reduce costs. This includes reorganizing our organizational structure and personnel to support our business strategy. The company is also accelerating its ongoing real estate consolidation to support work-from-home arrangements in light of an increasingly hybrid workforce. We plan to complete these actions in 2023.

The Company has total pre-tax restructuring costs of approximately $60 million To $65 million,approximately $51 million To $56 million will occur in Q4 2022 and the rest in 2023.The total expected range should be approximately $29 million To $34 million Relating to retirement and employee benefits, approximately $31 million Relates to property move-out costs, which consist of lease impairments and abandonment costs. We estimate that substantially all fees will be cash.

Our company is approximately $55 million These actions are expected to realize total annual run-rate savings by the end of 2024, with more than half realized by 2023. These savings will partially mitigate the impact of headwinds from rising labor costs and the macroeconomic environment. Fund additional investments, including increasing automation, to continue driving a more efficient cost structure over the long term. The company expects to announce its full-year 2023 outlook during its fourth quarter 2022 earnings call.


Certain of the statements contained in this Form 8-K may constitute forward-looking statements, including statements relating to the timing and amount of retirement benefits, real estate costs and estimated total savings. we Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this Form 8-K are based on our historical experience and current plans, estimates and expectations. The inclusion of this forward-looking information should not be taken as a representation by us or any other person that our future plans, estimates or expectations will be achieved. Actual results may differ materially from those projected in the forward-looking statements, due to factors such as our ability to perform actions as anticipated. We undertake no obligation to update or confirm any forward-looking statements, whether as a result of new information, future events or other developments.For additional information regarding factors that may affect our actual results, please contact us at US Securities and Exchange CommissionThis includes risk factors identified in our most recent annual report on Form 10-K and quarterly report on Form 10-Q.

Item 9.01. Financial Statements and Materials.

(d) Exhibits
Exhibit No.         Exhibit
                    The cover page from this Current Report on Form 8-K, formatted in Inline
104                 XBRL.


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