Assurant (AIZ) 8-K Results of Operations and Financial Condition

Exhibit 99.2

Assurant, Inc. (AIZ)

Financial Supplement as of March 31, 2006

ASSURANT, INC. AND SUBSIDIARIES

EARNINGS RELEASE SUPPLEMENT

AS OF MARCH 31, 2006

INDEX TO SUPPLEMENT

	Page:
REGULATION G — NON GAAP MEASURES		1
SUMMARY FINANCIAL HIGHLIGHTS (unaudited)		2
CONSOLIDATED CONDENSED BALANCE SHEETS (unaudited)		4
RECONCILIATION OF NET OPERATING INCOME TO NET INCOME (unaudited)		5
CONSOLIDATED CONDENSED STATEMENT OF OPERATIONS (unaudited)		6
CONDENSED SEGMENT STATEMENTS OF OPERATIONS (unaudited)		7
INVESTMENTS (unaudited)		14
INVESTMENT RESULTS BY ASSET CATEGORY & ANNUALIZED YIELDS (unaudited)		15

About Assurant:

Assurant is a premier provider of specialized insurance products and related services in North America and selected other markets. The four key business segments – Assurant Employee Benefits; Assurant Health; Assurant Preneed; and Assurant Solutions — have partnered with clients who are leaders in their industries and have built leadership positions in a number of specialty insurance markets in the U.S. and selected international markets. The Assurant business segments provide creditor-placed homeowners insurance; manufactured housing homeowners insurance; debt protection administration; credit insurance; warranties and extended services contracts; individual health and small employer group health insurance; group dental insurance; group disability insurance; group life insurance; and pre-funded funeral insurance.

The company, which is traded on the New York Stock Exchange under the symbol AIZ, has over $20 billion in assets and $7 billion in annual revenue. Assurant has more than 12,000 employees and is headquartered in New York’s financial district.

Safe Harbor Statement:

Some of the statements included in this statistical supplement, particularly those anticipating future financial performance, business prospects, growth and operating strategies and similar matters, are forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. For a discussion of the factors that could affect our actual results please refer to the risk factors identified from time to time in our SEC reports, posted on the Assurant website at www.assurant.com.

Regulation G — Non GAAP Measures

Assurant uses the following non-GAAP financial measures to analyze the company’s operating performance for the periods presented in the press release. Because Assurant’s calculation of these measures may differ from similar measures used by other companies, investors should be careful when comparing Assurant’s non-GAAP financial measures to those of other companies.

(1) Assurant uses net operating income as an important measure of the company’s operating performance. Net operating income equals net income, excluding net realized gains (losses) on investments and unusual and/or infrequent items. The company believes net operating income provides investors a valuable measure of the performance of the company’s ongoing business, because it excludes both the effect of realized gains (losses) on investments that tend to be highly variable from period to period, and those events that are unusual and/or unlikely to recur.

(2) Pro forma earnings per share has been included as a measure of operating performance. In February 2004, Assurant completed a significant capital restructuring in conjunction with its initial public offering of common stock. Pro forma earnings per share reflects earnings per share adjusted as if this capital restructuring had occurred on January 1, 2003. This restructuring included: a stock split and conversion of Class B and C shares resulting in total outstanding shares of 109,222,276; the issuance of 32,976,854 shares of Assurant common stock to Fortis Insurance N.V. in exchange for a capital contribution of $725.5 million, and the issuance of 68,976 restricted shares of Assurant common stock to certain officers and directors of the company pursuant to specific restricted stock grants. These transactions occurred subsequent to the December 31, 2003 balance sheet, but management believes that this adjusted measure provides a better indication of operating performance than the corresponding GAAP measure, earnings per share.

(3) Book value per share excluding accumulated other comprehensive income (AOCI) has been included as a measure of stockholder value. The company believes book value per share excluding AOCI provides investors a better measure of stockholder value than book value per share because it excludes the effect of unrealized gains (losses) on investments and foreign currency translation, which tend to be highly variable from period to period.

 Page 1

Assurant, Inc. and Subsidiaries
Summary Financial Highlights
(Unaudited)

	For the Three-Months Ended						For the Year Ended
	March 31,						December 31,
($ in thousands, except per share amounts)	2006			2005			2005			2004
Net operating income (1)	$	163,819		$	115,118		$	513,289		$	344,991
Net realized (loss) gains from investments		(2,894	)		320			7,369			15,800
Excess of loss reinsurance program (1995-1997)		—			—			(40,263	)		—
Loss on disposal of business		—			—			—			(6,337	)
Expenses directly related to the initial and secondary public offerings		—			(1,040	)		(1,040	)		(3,894	)
Net income before cumulative effect of change in accounting principle		160,925			114,398			479,355			350,560
Cumulative effect of change in accounting principle		1,547			—			—			—
Net income	$	162,472		$	114,398		$	479,355		$	350,560
Total revenues	$	1,929,782		$	1,862,354		$	7,497,675		$	7,410,714
PER SHARE AND SHARE DATA:
Basic earnings per share
Net operating income	$	1.26		$	0.82		$	3.78		$	2.49
Net income before cumulative effect of change in accounting principle	$	1.24		$	0.82		$	3.53		$	2.53
Net income	$	1.25		$	0.82		$	3.53		$	2.53
Weighted average of common shares outstanding — basic		129,998,426			139,736,533			135,773,551			138,358,767
Diluted earnings per share
Net operating income	$	1.24		$	0.82		$	3.75		$	2.49
Net income before cumulative effect of change in accounting principle	$	1.22		$	0.82		$	3.50		$	2.53
Net income	$	1.23		$	0.82		$	3.50		$	2.53
Weighted average of common shares outstanding — diluted		132,000,306			139,833,013			136,945,310			138,467,564
Pro forma earnings per share (2)
Net operating income		N/A			N/A			N/A		$	2.44
Net income before cumulative effect of change in accounting principle		N/A			N/A			N/A		$	2.48
Net income		N/A			N/A			N/A		$	2.48
Pro forma common shares outstanding		N/A			N/A			N/A			141,622,001

 Page 2

Assurant, Inc. and Subsidiaries
Summary Financial Highlights (continued)
(Unaudited)

	As of			As of
	March 31,			December 31,
($ in thousands, except per share amounts)	2006			2005			2004
Total assets	$	24,680,684		$	25,365,453		$	24,548,106
Total stockholders’ equity	$	3,653,569		$	3,699,559		$	3,635,431
Total stockholders’ equity (excluding AOCI)	$	3,575,169		$	3,480,060		$	3,297,268
Basic book value per share	$	28.25		$	28.33		$	26.01
Basic book value per share (excluding AOCI) (3)	$	27.64		$	26.65		$	23.59
Shares outstanding for basic book value per share calculation		129,329,491			130,591,834			139,766,177
Diluted book value per share	$	27.77		$	27.90		$	25.99
Diluted book value per share (excluding AOCI) (3)	$	27.18		$	26.25		$	23.57
Shares outstanding for diluted book value per share calculation		131,547,132			132,598,736			139,901,760
Debt to total capital ratio (excluding AOCI)		21.8	%		22.2	%		23.2	%

 Page 3

Assurant, Inc. and Subsidiaries
Consolidated Condensed Balance Sheets
(Unaudited)

	As of		As of
	March 31,		December 31,
($ in thousands)	2006		2005		2004
Assets
Investments and cash and cash equivalents	$	12,899,640	$	13,371,392	$	12,955,128
Reinsurance recoverables		4,075,817		4,447,810		4,196,810
Goodwill		804,889		804,864		823,054
Assets held in separate accounts		3,498,093		3,472,435		3,717,149
Other assets		3,402,245		3,268,952		2,855,965
Total assets		24,680,684		25,365,453		24,548,106
Liabilities
Policyholder liability		14,164,008		14,391,691		13,381,936
Debt		971,711		971,690		971,611
Mandatorily redeemable preferred stock		23,160		24,160		24,160
Liabilities related to separate accounts		3,498,093		3,472,435		3,717,149
Accounts payable and other liabilities		2,370,143		2,805,918		2,817,819
Total liabilities		21,027,115		21,665,894		20,912,675
Stockholders’ equity
Equity, excluding accumulated other comprehensive income		3,575,169		3,480,060		3,297,268
Accumulated other comprehensive income		78,400		219,499		338,163
Total stockholders’ equity		3,653,569		3,699,559		3,635,431
Total liabilities and stockholders’ equity	$	24,680,684	$	25,365,453	$	24,548,106

 Page 4

Assurant, Inc. and Subsidiaries
Reconciliation of Net Operating Income to Net Income
(Unaudited)

	For the Three Months Ended															For the Year Ended
	March 31,			December 31,			September 30,			June 30,			March 31,			December 31,			December 31,
($ in thousands, net of tax)	2006			2005			2005			2005			2005			2005			2004
Assurant Solutions	$	97,339		$	69,636		$	53,149		$	63,765		$	54,770		$	241,320		$	126,158
Assurant Health		45,096			33,297			45,718			49,367			49,673			178,055			158,287
Assurant Employee Benefits		19,185			19,329			22,846			9,812			16,379			68,366			62,210
Assurant Preneed		6,852			4,783			10,475			12,840			6,956			35,054			34,235
Corporate and other		(439	)		20,701			(4,289	)		(3,314	)		(10,417	)		2,681			(35,282	)
Amortization of deferred gain on disposal of businesses		5,741			4,651			7,609			7,660			7,711			27,631			37,461
Interest expense		(9,955	)		(9,955	)		(9,955	)		(9,954	)		(9,954	)		(39,818	)		(38,078	)
Net operating income		163,819			142,442			125,553			130,176			115,118			513,289			344,991
Adjustments:
Net realized (loss) gains on investments		(2,894	)		(5,396	)		9,794			2,651			320			7,369			15,800
Excess loss of reinsurance program (1995-1997)		—			—			(35,060	)		(5,203	)		—			(40,263	)		—
Loss on disposal of business		—			—			—			—			—			—			(6,337	)
Expenses directly related to the initial and secondary public offerings		—			—			—			—			(1,040	)		(1,040	)		(3,894	)
Net income before cumulative effect of change in accounting principle		160,925			137,046			100,287			127,624			114,398			479,355			350,560
Cumulative effect of change in accounting principle		1,547			—			—			—			—			—			—
Net income	$	162,472		$	137,046		$	100,287		$	127,624		$	114,398		$	479,355		$	350,560

 Page 5

Assurant, Inc. and Subsidiaries
Consolidated Condensed Statement of Operations
(Unaudited)

												��
	For the Three Months Ended															For the Year Ended
	March 31,			December 31,			September 30,			June 30,			March 31,			December 31,			December 31,
($ in thousands)	2006			2005			2005			2005			2005			2005			2004
Revenues:
Net earned premiums and other considerations	$	1,672,653		$	1,644,477		$	1,621,186		$	1,623,239		$	1,631,894		$	6,520,796		$	6,482,871
Net investment income		192,562			170,864			175,175			177,018			164,200			687,257			634,749
Net realized (loss) gain on investments		(4,452	)		(8,301	)		11,965			4,079			492			8,235			24,308
Loss on disposal of businesses		—			—			—			—			—			—			(9,232	)
Amortization of deferred gain on disposal of businesses		8,833			7,155			11,706			11,784			11,863			42,508			57,632
Fees and other income		60,186			67,382			59,409			58,183			53,905			238,879			220,386
		1,929,782			1,881,577			1,879,441			1,874,303			1,862,354			7,497,675			7,410,714
Benefits, losses and expenses:
Policyholder benefits		889,679			869,678			970,596			924,011			943,524			3,707,809			3,839,769
Selling, underwriting, general and administrative expenses		782,432			847,172			752,156			746,879			726,793			3,073,000			2,976,436
Interest expense		15,315			15,315			15,315			15,314			15,314			61,258			58,581
		1,687,426			1,732,165			1,738,067			1,686,204			1,685,631			6,842,067			6,874,786
Income before income taxes and cumulative effect of change in accounting principle		242,356			149,412			141,374			188,099			176,723			655,608			535,928
Income taxes		81,431			12,366			41,087			60,475			62,325			176,253			185,368
Net income before cumulative effect of change in accounting principle		160,925			137,046			100,287			127,624			114,398			479,355			350,560
Cumulative effect of change in accounting principle		1,547			—			—			—			—			—			—
Net income	$	162,472		$	137,046		$	100,287		$	127,624		$	114,398		$	479,355		$	350,560
Share repurchase program:
Shares repurchased		1,416,800			2,014,468			3,910,926			2,797,500			710,000			9,432,894			2,411,500
Average repurchase price per share	$	45.17		$	38.00		$	37.38		$	34.32		$	34.16		$	36.36		$	26.04
Repurchase price	$	64,001		$	76,551		$	146,181		$	96,006		$	24,252		$	342,990		$	62,786
AIZ Closing stock price (NYSE)	$	49.25		$	43.49		$	38.06		$	36.10		$	33.70		$	43.49		$	30.55
Investment yield(1)		5.75	%		5.54	%		5.71	%		5.63	%		5.51	%		5.54	%		5.46	%
Real estate investment income(1)	$	14,735		$	—		$	3,156		$	9,409		$	—		$	12,565		$	—

(1) Investment yield excludes investment income from real estate partnerships.

Page 6

Assurant Solutions and Assurant Specialty Property
Condensed Statement of Operations
(Unaudited)

	For the Three Months Ended															For the Year Ended
	March 31,			December 31,			September 30,			June 30,			March 31,			December 31,			December 31,
($ in thousands)	2006			2005			2005			2005			2005			2005			2004
Revenues:
Net earned premiums and other considerations	$	739,185		$	713,068		$	648,011		$	636,688		$	615,247		$	2,613,014		$	2,448,641
Net investment income		58,786			51,621			52,514			52,262			48,165			204,562			184,951
Fees and other income		43,405			50,365			39,991			40,938			36,103			167,397			143,718
		841,376			815,054			740,516			729,888			699,515			2,984,973			2,777,310
Benefits, losses and expenses:
Policyholder benefits		221,919			223,627			238,148			213,678			203,265			878,718			935,431
Selling, underwriting, general and administrative expenses		472,107			484,256			422,215			420,797			414,589			1,741,857			1,658,402
		694,026			707,883			660,363			634,475			617,854			2,620,575			2,593,833
Income before income taxes		147,350			107,171			80,153			95,413			81,661			364,398			183,477
Income taxes		50,011			37,535			27,004			31,648			26,891			123,078			57,319
Net operating income	$	97,339		$	69,636		$	53,149		$	63,765		$	54,770		$	241,320		$	126,158
Net earned premiums and other considerations by major product groupings:
Assurant Specialty Property	$	252,746		$	230,692		$	219,324		$	207,723		$	201,118		$	858,857		$	768,875
Assurant Solutions		486,439			482,376			428,687			428,965			414,129			1,754,157			1,679,766
Total	$	739,185		$	713,068		$	648,011		$	636,688		$	615,247		$	2,613,014		$	2,448,641
Gross written premiums for selected product groupings:
Domestic Credit	$	168,927		$	199,082		$	182,999		$	194,667		$	190,718		$	767,466		$	853,011
International Credit	$	161,024		$	160,858		$	166,413		$	157,449		$	162,747		$	647,467		$	594,646
Domestic extended service contracts	$	285,504		$	326,974		$	298,969		$	241,035		$	253,249		$	1,120,227		$	960,352
International extended service contracts	$	66,256		$	86,674		$	62,669		$	50,593		$	47,570		$	247,506		$	73,103
Specialty Property Solutions	$	355,088		$	411,212		$	378,474		$	341,298		$	299,357		$	1,430,341		$	1,275,357
Investment yield(1)		5.14	%		4.75	%		5.10	%		5.28	%		4.87	%		4.88	%		4.78	%
Real estate investment income(1)	$	2,506		$	—		$	—		$	—		$	—		$	—		$	—

(1) Investment yield excludes investment income from real estate partnerships.

Page 7

Assurant Health
Condensed Statement of Operations
(Unaudited)

	For the Three Months Ended										For the Year Ended
	March 31,		December 31,		September 30,		June 30,		March 31,		December 31,		December 31,
($ in thousands)	2006		2005		2005		2005		2005		2005		2004
Revenues:
Net earned premiums and other considerations	$	523,405	$	531,345	$	538,800	$	544,294	$	549,526	$	2,163,965	$	2,231,298
Net investment income		24,001		16,474		17,707		17,170		17,705		69,056		67,902
Fees and other income		9,726		9,323		10,420		10,270		10,331		40,344		38,708
		557,132		557,142		566,927		571,734		577,562		2,273,365		2,337,908
Benefits, losses and expenses:
Policyholder benefits		325,401		329,793		336,362		333,101		345,368		1,344,624		1,422,783
Selling, underwriting, general and administrative expenses		162,712		176,626		161,125		163,385		156,763		657,899		674,907
		488,113		506,419		497,487		496,486		502,131		2,002,523		2,097,690
Income before income taxes		69,019		50,723		69,440		75,248		75,431		270,842		240,218
Income taxes		23,923		17,426		23,722		25,881		25,758		92,787		81,931
Net operating income	$	45,096	$	33,297	$	45,718	$	49,367	$	49,673	$	178,055	$	158,287
Net earned premiums and other considerations:
Individual:
Individual medical	$	297,338	$	295,322	$	291,817	$	290,047	$	287,312	$	1,164,498	$	1,100,869
Short-term medical		25,001		26,664		30,257		28,115		25,876		110,912		114,583
Subtotal		322,339		321,986		322,074		318,162		313,188		1,275,410		1,215,452
Small employer group		201,066		209,359		216,726		226,132		236,338		888,555		1,015,846
Total	$	523,405	$	531,345	$	538,800	$	544,294	$	549,526	$	2,163,965	$	2,231,298

Page 8

Assurant Health (continued)
Condensed Statement of Operations
(Unaudited)

	For the Three Months Ended															For the Year Ended
	March 31,			December 31,			September 30,			June 30,			March 31,			December 31,			December 31,
($ in thousands)	2006			2005			2005			2005			2005			2005			2004
Sales (Annualized issued premiums):
Individual:
Individual medical	$	76,192		$	71,745		$	69,343		$	68,137		$	76,389		$	285,614		$	344,794
Short-term medical		30,248			24,747			34,889			31,566			28,716			119,918			117,396
Subtotal		106,440			96,492			104,232			99,703			105,105			405,532			462,190
Small employer group		34,573			36,466			36,224			41,211			45,486			159,387			233,809
Total	$	141,013		$	132,958		$	140,456		$	140,914		$	150,591		$	564,919		$	695,999
Membership by product line:
Individual:
Individual medical		636			644			647			662			671			644			675
Short-term medical		100			102			122			129			116			102			107
Subtotal		736			746			769			791			787			746			782
Small employer group		239			255			267			287			308			255			333
Total		975			1,001			1,036			1,078			1,095			1,001			1,115
Ratios:
Loss ratio (a)		62.2	%		62.1	%		62.4	%		61.2	%		62.8	%		62.1	%		63.8	%
Expense ratio (b)		30.5	%		32.7	%		29.3	%		29.5	%		28.0	%		29.8	%		29.7	%
Combined ratio (c)		91.6	%		93.7	%		90.6	%		89.5	%		89.7	%		90.8	%		92.4	%
Investment yield(1)		5.70	%		5.57	%		5.48	%		5.23	%		5.44	%		5.61	%		5.47	%
Real estate investment income(1)	$	7,372		$	—		$	596		$	—		$	—		$	596		$	—

(a)	The loss ratio is equal to policyholder benefits divided by net earned premiums and other considerations.
(b)	The expense ratio is equal to selling, underwriting and general expenses divided by net earned premiums and other considerations and fees and other income.
(c)	The combined ratio is equal to total benefits, losses and expenses divided by net earned premiums and other considerations and fees and other income.
(1)	Investment yield excludes investment income from real estate partnerships.

Page 9

Assurant Employee Benefits
Condensed Statement of Operations
(Unaudited)

	For the Three Months Ended										For the Year Ended
	March 31,		December 31,		September 30,		June 30,		March 31,		December 31,		December 31,
($ in thousands)	2006		2005		2005		2005		2005		2005		2004
Revenues:
Net earned premiums and other considerations	$	326,111	$	308,568	$	306,928	$	316,420	$	345,922	$	1,277,838	$	1,276,812
Net investment income		40,839		38,754		41,878		38,274		37,983		156,889		149,718
Fees and other income		6,832		6,056		6,976		6,993		6,189		26,214		29,306
		373,782		353,378		355,782		361,687		390,094		1,460,941		1,455,836
Benefits, losses and expenses:
Policyholder benefits		245,439		215,538		212,022		241,537		267,738		936,835		950,235
Selling, underwriting, general and administrative expenses		99,114		108,095		108,403		105,027		97,017		418,542		409,737
		344,553		323,633		320,425		346,564		364,755		1,355,377		1,359,972
Income before income taxes		29,229		29,745		35,357		15,123		25,339		105,564		95,864
Income taxes		10,044		10,416		12,511		5,311		8,960		37,198		33,654
Net operating income	$	19,185	$	19,329	$	22,846	$	9,812	$	16,379	$	68,366	$	62,210
Net earned premiums and other considerations by:
Major product grouping:
Group dental	$	111,393	$	121,444	$	124,780	$	128,323	$	128,242	$	502,789	$	520,513
Group disability single premiums for closed blocks		33,920		—		—		—		26,700		26,700		40,906
All other group disability		121,586		123,390		118,595		123,078		124,777		489,840		465,517
Group life		59,212		63,734		63,553		65,019		66,203		258,509		249,876
Total	$	326,111	$	308,568	$	306,928	$	316,420	$	345,922	$	1,277,838	$	1,276,812

Page 10

Assurant Employee Benefits (continued)
Condensed Statement of Operations
(Unaudited)

	For the Three Months Ended															For the Year Ended
	March 31,			December 31,			September 30,			June 30,			March 31,			December 31,			December 31,
($ in thousands)	2006			2005			2005			2005			2005			2005			2004
Sales:
Group dental	$	26,979		$	17,316		$	21,588		$	18,187		$	41,757		$	98,848		$	119,064
Group disability		13,633			9,722			12,649			14,864			25,420			62,655			70,387
Group life		6,681			6,702			5,883			10,898			18,561			42,044			48,486
Total	$	47,293		$	33,740		$	40,120		$	43,949		$	85,738		$	203,547		$	237,937
Ratios:
Loss ratio (a)		75.3	%		69.9	%		69.1	%		76.3	%		77.4	%		73.3	%		74.4	%
Expense ratio (b)		29.8	%		34.4	%		34.5	%		32.5	%		27.6	%		32.1	%		31.4	%
Investment yield(1)		6.47	%		6.15	%		6.29	%		6.14	%		6.12	%		6.19	%		6.22	%
Real estate investment income(1)	$	—		$	—		$	2,560		$	—		$	—		$	2,560		$	—

(a)	The loss ratio is equal to policyholder benefits divided by net earned premiums and other considerations.
(b)	The expense ratio is equal to selling, underwriting and general expenses divided by net earned premiums and other considerations and fees and other income.
(1)	Investment yield excludes investment income from real estate partnerships.

Page 11

Assurant Preneed
Condensed Statement of Operations
(Unaudited)

	For the Three Months Ended															For the Year Ended
	March 31,			December 31,			September 30,			June 30,			March 31,			December 31,			December 31,
($ in thousands)	2006			2005			2005			2005			2005			2005			2004
Revenues:
Net earned premiums and other considerations	$	83,952		$	91,496		$	127,447		$	125,837		$	121,199		$	465,979		$	526,120
Net investment income		55,086			57,052			56,204			62,688			53,012			228,956			206,300
Fees and other income		223			587			1,922			(196	)		1,179			3,492			6,810
		139,261			149,135			185,573			188,329			175,390			698,427			739,230
Benefits, losses and expenses:
Policyholder benefits		96,920			100,720			129,916			127,900			127,153			485,689			531,320
Selling, underwriting, general and administrative expenses		31,860			40,814			39,570			40,732			37,531			158,647			156,486
		128,780			141,534			169,486			168,632			164,684			644,336			687,806
Income before income taxes		10,481			7,601			16,087			19,697			10,706			54,091			51,424
Income taxes		3,629			2,818			5,612			6,857			3,750			19,037			17,189
Net operating income	$	6,852		$	4,783		$	10,475		$	12,840		$	6,956		$	35,054		$	34,235
Net earned premiums and other considerations by channel:
AMLIC	$	60,248		$	56,738		$	64,210		$	64,299		$	64,589		$	249,836		$	273,147
Independent — United States		15,953			27,633			56,703			55,353			50,859			190,548			234,176
Independent — Canada		7,751			7,125			6,534			6,185			5,751			25,595			18,797
Total	$	83,952		$	91,496		$	127,447		$	125,837		$	121,199		$	465,979		$	526,120
Life and annuity sales by channel:
AMLIC	$	68,799		$	60,631		$	68,715		$	72,531		$	71,370		$	273,247		$	294,708
Independent — United States (2)		31,999			39,335			50,614			49,499			43,552			183,000			214,623
Independent — Canada		22,890			23,236			22,457			22,478			18,097			86,268			72,866
Total	$	123,688		$	123,202		$	141,786		$	144,508		$	133,019		$	542,515		$	582,197
Investment yield(1)		6.35	%		6.59	%		6.49	%		6.18	%		6.23	%		6.43	%		6.34	%
Real estate investment income(1)	$	—		$	—		$	—		$	9,409		$	—		$	9,409		$	—

(1)	Investment yield excludes investment income from real estate partnerships.
(2)	Per the announced sale of the US preneed independent insurance franchise, all sales written by Assurant are 100% reinsured as of November 1, 2005.

Page 12

Assurant Corporate and Other
Condensed Statement of Operations
(Unaudited)

	For the Three Months Ended															For the Year Ended
	March 31,			December 31,			September 30,			June 30,			March 31,			December 31,			December 31,
($ in thousands)	2006			2005			2005			2005			2005			2005			2004
Revenues:
Net earned premiums and other considerations	$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net investment income (1)		13,850			6,963			6,872			6,624			7,335			27,794			25,878
Net realized (loss) gain on investments		(4,452	)		(8,301	)		11,965			4,079			492			8,235			24,308
Loss on disposal of businesses		—			—			—			—			—			—			(9,232	)
Amortization of deferred gain on disposal of businesses		8,833			7,155			11,706			11,784			11,863			42,508			57,632
Fees and other income		—			1,051			100			178			103			1,432			1,844
		18,231			6,868			30,643			22,665			19,793			79,969			100,430
Benefits, losses and expenses:
Policyholder benefits		—			—			54,148			7,795			—			61,943			—
Selling, underwriting, general and administrative expenses		16,639			37,381			20,843			16,938			20,893			96,055			76,904
Interest expense		15,315			15,315			15,315			15,314			15,314			61,258			58,581
		31,954			52,696			90,306			40,047			36,207			219,256			135,485
Loss before income taxes and cumulative effect of change in accounting principle		(13,723	)		(45,828	)		(59,663	)		(17,382	)		(16,414	)		(139,287	)		(35,055	)
Income taxes		(6,176	)		(55,829	)		(27,762	)		(9,222	)		(3,034	)		(95,847	)		(4,725	)
Net operating (loss) income before cumulative effect of change in accounting principle		(7,547	)		10,001			(31,901	)		(8,160	)		(13,380	)		(43,440	)		(30,330	)
Cumulative effect of change in accounting principle		1,547			—			—			—			—			—			—
Net operating (loss) income	$	(6,000	)	$	10,001		$	(31,901	)	$	(8,160	)	$	(13,380	)	$	(43,440	)	$	(30,330	)
Real estate investment income	$	4,857		$	—		$	—		$	—		$	—		$	—		$	—
Corporate and Other Reconciliation
Assurant Corporate and Other Segment Net Operating Income	$	(6,000	)	$	10,001		$	(31,901	)	$	(8,160	)	$	(13,380	)	$	(43,440	)	$	(30,330	)
Adjustments, net of tax:
Amortization of deferred gain on disposal of businesses		(5,741	)		(4,651	)		(7,609	)		(7,660	)		(7,711	)		(27,631	)		(37,461	)
Interest expense		9,955			9,955			9,955			9,954			9,954			39,818			38,078
Net realized loss (gain) on investments		2,894			5,396			(9,794	)		(2,651	)		(320	)		(7,369	)		(15,800	)
Excess loss of reinsurance program (1995-1997)		—			—			35,060			5,203			—			40,263			—
Loss on disposal of business		—			—			—			—			—			—			6,337
Expense directly related to the initial and secondary public offerings		—			—			—			—			1,040			1,040			3,894
Cumulative effect of change in accounting principle		(1,547	)		—			—			—			—			—			—
Corporate and other per Reconciliation of Net Operating Income to Net Income (page 5)	$	(439	)	$	20,701		$	(4,289	)	$	(3,314	)	$	(10,417	)	$	2,681		$	(35,282	)

Page 13

Assurant, Inc. and Subsidiaries
Investments
(Unaudited)

	As of				As of
	March 31,				December 31,
($ in thousands)	2006				2005
Investments by Type
Fixed maturities: available-for-sale, at fair value	$	8,847,534			$	8,961,778
Equity Securities: available-for-sale
Preferred stocks		735,773				691,523
Common stocks		10,258				1,578
Commercial mortgage loans on real estate, at amortized cost		1,234,185				1,212,006
Policy loans		60,044				61,043
Cash and short-term investments		912,887				1,283,043
Collateral held under securities lending		543,198				610,662
Other investments		555,761				549,759
Total	$	12,899,640			$	13,371,392
Fixed Maturity Securities by Credit Quality (Fair Value)
Aaa / Aa / A	$	6,111,759	69	%	$	6,211,058	69	%
Baa		2,097,445	24	%		2,122,752	24	%
Ba		509,981	6	%		515,740	6	%
B		122,648	1	%		101,724	1	%
Caa and lower		4,953	0	%		9,764	0	%
In or near default		748	0	%		740	0	%
Total	$	8,847,534	100	%	$	8,961,778	100	%
Fixed Maturity Securities by Issuer Type (Fair Value)
U.S government and government agencies and authorities	$	180,351	2	%	$	207,711	2	%
State, municipalities and political subdivisions		263,298	3	%		235,933	3	%
Foreign government		570,428	6	%		589,353	6	%
Public utilities		1,111,267	13	%		1,064,591	12	%
Mortgage backed securities		1,467,888	17	%		1,492,684	17	%
All other corporate bonds		5,254,302	59	%		5,371,506	60	%
Total	$	8,847,534	100	%	$	8,961,778	100	%

Page 14

Assurant, Inc.
Investment Results by Asset Category and Annualized Yields
(Unaudited)

	For the Three Months Ended March 31, 2006									For the Three Months Ended March 31, 2005
				Investment			Investment						Investment			Investment
($ in thousands)	Yield			Income			Gain (Loss)			Yield			Income			Gain (Loss)
Fixed maturities: available-for-sale, at fair value		5.83	%	$	126,841		$	(2,617	)		5.76	%	$	125,248		$	286
Equity Securities: available-for-sale		6.32	%		11,783			(1,653	)		6.68	%		9,267			278
Commercial mortgage loans on real estate, at amortized cost		7.64	%		23,353			(126	)		7.54	%		19,757			(425	)
Policy loans		5.77	%		873			—			6.85	%		1,105			—
Cash and short-term investments		3.66	%		10,056			141			2.15	%		5,427			(2	)
Other investments		18.79	%		25,965			(197	)		6.92	%		9,406			355
Total					198,871		$	(4,452	)					170,210		$	492
Investment expenses					(6,309	)								(6,010	)
Net investment income				$	192,562								$	164,200
Gross investment gain							$	6,125								$	8,167
Gross investment loss								(10,577	)								(7,675	)
Write-downs on available-for-sale securities								—									—
Net investment gain (loss)							$	(4,452	)							$	492

Page 15