Assurant (AIZ) 8-K Assurant Reports Q1 2007 Net Operating Income of $175.8 Million ($1.42

Exhibit 99.2

Assurant, Inc. (AIZ)

Financial Supplement as of March 31, 2007

ASSURANT, INC. AND SUBSIDIARIES

EARNINGS RELEASE SUPPLEMENT

AS OF MARCH 31, 2007

INDEX TO SUPPLEMENT
	Page:
REGULATION G – NON GAAP MEASURES	1
SUMMARY FINANCIAL HIGHLIGHTS (unaudited)	2
SEGMENTED 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)	15
INVESTMENT RESULTS BY ASSET CATEGORY & ANNUALIZED YIELDS (unaudited)	16
SUMMARY OF NET OPERATING INCOME DISCLOSED ITEMS (unaudited)	17

About Assurant:

Assurant is a premier provider of specialized insurance products and related services in North America and selected other international markets. The four key businesses – Assurant Solutions; Assurant Specialty Property; Assurant Health; and Assurant Employee Benefits – have partnered with clients who are leaders in their industries and have built leadership positions in a number of specialty insurance market segments in the U.S. and selected international markets. The Assurant business units provide debt protection administration; credit-related insurance; warranties and service contracts; pre-funded funeral insurance; creditor-placed homeowners insurance; manufactured housing homeowners insurance; individual health and small employer group health insurance; group dental insurance; group disability insurance; and group life 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, including, but not limited to our 10-K, as filed with the SEC.

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) 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 shares and per share amounts)	2007		2006			2006		2005
Net operating income (1)	$	175,836	$	163,819		$	602,678	$	513,289
Net realized gains (losses) on investments		3,621		(2,894	)		72,712		7,369
Assurant Solutions legal settlement		—		—			40,481		—
Excess of loss reinsurance program (1995-1997)		—		—			—		(40,263	)
Expenses directly related to the secondary public offering		—		—			—		(1,040	)
Net income before cumulative effect of change in accounting principle		179,457		160,925			715,871		479,355
Cumulative effect of change in accounting principle		—		1,547			1,547		—
Net income	$	179,457	$	162,472		$	717,418	$	479,355
Total revenues	$	2,057,263	$	1,929,782		$	8,070,584	$	7,497,675
PER SHARE AND SHARE DATA:
Basic earnings per share
Net operating income	$	1.44	$	1.26		$	4.75	$	3.78
Net income before cumulative effect of change in accounting principle	$	1.47	$	1.24		$	5.65	$	3.53
Net income	$	1.47	$	1.25		$	5.66	$	3.53
Weighted average of common shares outstanding—basic		122,149,873		129,998,426			126,846,990		135,773,551
Diluted earnings per share
Net operating income	$	1.42	$	1.24		$	4.68	$	3.75
Net income before cumulative effect of change in accounting principle	$	1.45	$	1.22		$	5.56	$	3.50
Net income	$	1.45	$	1.23		$	5.57	$	3.50
Weighted average of common shares outstanding—diluted		124,111,534		132,000,306			128,812,813		136,945,310

Page 2

Assurant, Inc. and Subsidiaries

Summary Financial Highlights (continued)

(Unaudited)

	As of			As of
	March 31,			December 31,
($ in thousands, except shares and per share amounts)	2007			2006
Total assets	$	25,461,049		$	25,165,148
Total stockholders’ equity	$	3,921,261		$	3,832,597
Total stockholders’ equity (excluding AOCI)	$	3,832,271		$	3,744,533
Basic book value per share	$	32.29		$	31.26
Basic book value per share (excluding AOCI) (2)	$	31.56		$	30.54
Shares outstanding for basic book value per share calculation		121,433,177			122,618,317
Diluted book value per share	$	31.87		$	30.68
Diluted book value per share (excluding AOCI) (2)	$	31.14		$	29.97
Shares outstanding for diluted book value per share calculation		123,055,327			124,926,639
Debt to total capital ratio (excluding AOCI)		20.6	%		21.0	%

Page 3

Assurant, Inc. and Subsidiaries

Segmented Condensed Balance Sheets

At March 31, 2007 and December 31, 2006

(Unaudited)

	At March 31, 2007
	Solutions		Specialty Property		Health		Employee Benefits		Corporate & Other(1)		Consolidated
	($ in thousands)
Assets
Investments and cash and cash equivalents	$	7,126,323	$	1,675,929	$	1,173,246	$	2,668,120	$	1,163,115	$	13,806,733
Reinsurance recoverables		692,607		259,526		5,045		21,110		2,889,779		3,868,067
Deferred acquisition costs		2,288,404		145,506		47,164		25,476		—		2,506,550
Goodwill		—		—		—		—		790,545		790,545
Assets held in separate accounts		257,262		—		—		—		2,971,859		3,229,121
Other assets		529,479		259,649		86,329		165,604		218,972		1,260,033
Total assets		10,894,075		2,340,610		1,311,784		2,880,310		8,034,270		25,461,049
Liabilities
Policyholder benefits and claims payable		4,242,611		278,919		532,647		1,943,246		3,164,521		10,161,944
Unearned premiums		3,595,539		820,979		128,539		13,055		44,648		4,602,760
Debt		—		—		—		—		971,796		971,796
Mandatorily redeemable preferred stock		—		—		—		—		22,160		22,160
Liabilities related to separate accounts		257,262		—		—		—		2,971,859		3,229,121
Accounts payable and other liabilities		1,208,035		418,999		171,132		271,504		482,337		2,552,007
Total liabilities		9,303,447		1,518,897		832,318		2,227,805		7,657,321		21,539,788
Stockholders’ equity
Equity, excluding accumulated other comprehensive income		1,590,628		821,713		479,466		652,505		287,959		3,832,271
Accumulated other comprehensive income		—		—		—		—		88,990		88,990
Total stockholders’ equity		1,590,628		821,713		479,466		652,505		376,949		3,921,261
Total liabilities and stockholders’ equity	$	10,894,075	$	2,340,610	$	1,311,784	$	2,880,310	$	8,034,270	$	25,461,049
	At December 31, 2006
	Solutions		Specialty Property		Health		Employee Benefits		Corporate & Other(1)		Consolidated
	($ in thousands)
Assets
Investments and cash and cash equivalents	$	6,875,585	$	1,473,357	$	1,150,679	$	2,569,710	$	1,347,486	$	13,416,817
Reinsurance recoverables		721,134		290,653		5,239		22,872		2,875,074		3,914,972
Deferred acquisition costs		2,168,708		148,635		53,059		27,504		—		2,397,906
Goodwill		—		—		—		—		790,519		790,519
Assets held in separate accounts		255,784		—		—		—		3,042,759		3,298,543
Other assets		615,941		277,028		69,131		186,251		198,040		1,346,391
Total assets		10,637,152		2,189,673		1,278,108		2,806,337		8,253,878		25,165,148
Liabilities
Policyholder benefits and claims payable		4,253,205		278,664		556,726		1,936,662		3,153,252		10,178,509
Unearned premiums		3,431,658		820,533		119,934		12,694		45,074		4,429,893
Debt		—		—		—		—		971,774		971,774
Mandatorily redeemable preferred stock		—		—		—		—		22,160		22,160
Liabilities related to separate accounts		255,784		—		—		—		3,042,759		3,298,543
Accounts payable and other liabilities		1,131,710		337,563		184,683		241,369		536,347		2,431,672
Total liabilities		9,072,357		1,436,760		861,343		2,190,725		7,771,366		21,332,551
Stockholders’ equity
Equity, excluding accumulated other comprehensive income		1,564,795		752,913		416,765		615,612		394,448		3,744,533
Accumulated other comprehensive income		—		—		—		—		88,064		88,064
Total stockholders’ equity		1,564,795		752,913		416,765		615,612		482,512		3,832,597
Total liabilities and stockholders’ equity	$	10,637,152	$	2,189,673	$	1,278,108	$	2,806,337	$	8,253,878	$	25,165,148

(1) Corporate and Other segment includes Accumulated Other Comprehensive Income, Reinsurance Recoverables related to the disposal of FFG and LTC businesses, goodwill, separate accounts related to the disposal of FFG business and all of Assurant, Inc.’s debt.

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)	2007			2006			2006			2006			2006			2006			2005
Assurant Solutions	$	44,069		$	39,810		$	41,707		$	37,148		$	39,747		$	158,412		$	133,147
Assurant Specialty Property		74,434			63,956			53,445			59,276			64,444			241,121			143,227
Assurant Health		40,524			36,960			44,847			41,016			45,096			167,919			178,055
Assurant Employee Benefits		28,957			19,428			24,400			20,590			19,185			83,603			68,366
Corporate and other		(7,632	)		(19,908	)		(7,535	)		(4,930	)		(439	)		(32,812	)		2,681
Amortization of deferred gains on disposal of businesses		5,427			5,861			6,128			6,514			5,741			24,244			27,631
Interest expense		(9,943	)		(9,949	)		(9,950	)		(9,955	)		(9,955	)		(39,809	)		(39,818	)
Net operating income		175,836			136,158			153,042			149,659			163,819			602,678			513,289
Adjustments:
Net realized gains (losses) on investments		3,621			75,868			(1,739	)		1,477			(2,894	)		72,712			7,369
Assurant Solutions legal settlement		—			40,481			—			—			—			40,481			—
Excess of loss reinsurance program (1995-1997)		—			—			—			—			—			—			(40,263	)
Expenses directly related to the secondary public offering		—			—			—			—			—			—			(1,040	)
Net income before cumulative effect of change in accounting principle		179,457			252,507			151,303			151,136			160,925			715,871			479,355
Cumulative effect of change in accounting principle		—			—			—			—			1,547			1,547			—
Net income	$	179,457		$	252,507		$	151,303		$	151,136		$	162,472		$	717,418		$	479,355

Page 5

Assurant, Inc. and Subsidiaries

Consolidated Condensed Statements 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)	2007			2006			2006			2006			2006			2006			2005
Revenues:
Net earned premiums and other considerations	$	1,759,509		$	1,768,160		$	1,717,640		$	1,685,322		$	1,672,653		$	6,843,775		$	6,520,796
Net investment income		216,896			183,014			180,672			180,438			192,562			736,686			687,257
Net realized gains (losses) on investments		5,570			116,720			(2,675	)		2,272			(4,452	)		111,865			8,235
Amortization of deferred gains on disposal of businesses		8,349			9,017			9,428			10,022			8,833			37,300			42,508
Fees and other income*		66,939			130,722			79,014			71,036			60,186			340,958			238,879
		2,057,263			2,207,633			1,984,079			1,949,090			1,929,782			8,070,584			7,497,675
Benefits, losses and expenses:
Policyholder benefits		890,449			886,747			888,317			874,204			889,679			3,538,947			3,707,809
Selling, underwriting, general and administrative expenses		873,999			915,398			849,414			827,408			782,432			3,374,652			3,073,000
Interest expense		15,297			15,306			15,307			15,315			15,315			61,243			61,258
		1,779,745			1,817,451			1,753,038			1,716,927			1,687,426			6,974,842			6,842,067
Income before income taxes and cumulative effect of change in accounting principle		277,518			390,182			231,041			232,163			242,356			1,095,742			655,608
Income taxes		98,061			137,675			79,738			81,027			81,431			379,871			176,253
Net income before cumulative effect of change in accounting principle		179,457			252,507			151,303			151,136			160,925			715,871			479,355
Cumulative effect of change in accounting principle		—			—			—			—			1,547			1,547			—
Net income	$	179,457		$	252,507		$	151,303		$	151,136		$	162,472		$	717,418		$	479,355
Share repurchase program:
Shares repurchased		1,421,833			1,826,416			3,081,000			2,140,000			1,416,800			8,464,216			9,432,894
Average repurchase price per share	$	54.48		$	54.45		$	50.34		$	48.43		$	45.17		$	49.88		$	36.36
Repurchase price	$	77,460		$	99,444		$	155,109		$	103,630		$	64,001		$	422,184		$	342,990
AIZ Closing stock price (NYSE)	$	53.63		$	55.25		$	53.41		$	48.40		$	49.25		$	53.41		$	43.49
Investment yield(1)		5.66	%		5.73	%		5.66	%		5.83	%		5.75	%		5.73	%		5.54	%
Real estate investment income(1)	$	33,540		$	614		$	3,229		$	—		$	14,735		$	18,578		$	12,565

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

* The three months ended and year ended December 31, 2006 includes $62,278 related to a legal settlement in Assurant Solutions. See page 7.

Page 6

Assurant Solutions

Condensed Statements 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)	2007		2006		2006		2006		2006		2006		2005
Revenues:
Net earned premiums and other considerations	$	583,011	$	617,798	$	591,237	$	592,182	$	570,388	$	2,371,605	$	2,220,145
Net investment income		112,017		99,852		96,625		98,951		97,082		392,510		371,565
Fees and other income*		38,051		38,516		47,262		39,525		34,170		159,473		132,730
		733,079		756,166		735,124		730,658		701,640		2,923,588		2,724,440
Benefits, losses and expenses:
Policyholder benefits		243,344		252,296		250,886		247,208		248,380		998,770		1,046,900
Selling, underwriting, general and administrative expenses		427,645		446,185		424,284		424,429		394,878		1,689,776		1,477,505
		670,989		698,481		675,170		671,637		643,258		2,688,546		2,524,405
Income before income taxes		62,090		57,685		59,954		59,021		58,382		235,042		200,035
Income taxes*		18,021		17,875		18,247		21,873		18,635		76,630		66,888
Net operating income*	$	44,069	$	39,810	$	41,707	$	37,148	$	39,747	$	158,412	$	133,147
Net earned premiums and other considerations:
Domestic:
Credit	$	80,921	$	86,185	$	88,470	$	98,206	$	95,851	$	368,712	$	351,339
Service contracts		261,863		278,691		255,962		256,135		249,982		1,040,770		835,825
Other		16,689		19,791		18,034		19,759		23,699		81,283		154,493
Total Domestic		359,473		384,667		362,466		374,100		369,532		1,490,765		1,341,657
International:
Credit		96,877		104,288		104,372		97,612		88,210		394,482		339,227
Service contracts		42,717		41,449		18,868		24,416		14,761		99,494		41,006
Other		8,979		15,158		24,327		13,311		13,933		66,729		32,276
Total International		148,573		160,895		147,567		135,339		116,904		560,705		412,509
Preneed		74,965		72,236		81,204		82,743		83,952		320,135		465,979
Total	$	583,011	$	617,798	$	591,237	$	592,182	$	570,388	$	2,371,605	$	2,220,145
Fee income:
Domestic:
Debt protection	$	8,750	$	13,523	$	13,698	$	13,750	$	13,082	$	54,053	$	51,420
Service contracts		16,877		15,872		23,556		14,432		12,567		66,427		46,523
Other		6,493		4,092		4,884		4,796		4,022		17,794		18,993
Total Domestic		32,120		33,487		42,138		32,978		29,671		138,274		116,936
International		4,492		4,433		4,069		4,165		4,276		16,943		12,302
Preneed		1,439		596		1,055		2,382		223		4,256		3,492
Total	$	38,051	$	38,516	$	47,262	$	39,525	$	34,170	$	159,473	$	132,730

* For supplemental purposes, segment net operating income for the three months and year ended December 31, 2006 excludes $62,278 of fees and other income and related tax expense of $21,797 resulting from a third-party legal settlement. These amounts are included in the Consolidated Statements of Operations for the three months and year ended December 31, 2006 in this disclosure (see Page 5). In compliance with GAAP standards and SEC reporting requirements, the impact of this legal settlement is included in the Assurant Solutions segment statements of operations in Assurant, Inc.’s annual report on Form 10-K for the fiscal year ended December 31, 2006 filed with the SEC.

Page 7

Assurant Solutions (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended															For the Year Ended
($ in thousands)	March 31, 2007			December 31, 2006			September 30, 2006			June 30, 2006			March 31, 2006			December 31, 2006			December 31, 2005
Gross written premiums:
Domestic:
Credit	$	161,843		$	179,255		$	184,120		$	182,489		$	168,927		$	714,791		$	767,466
Service contracts		454,404			468,820			398,170			378,636			354,962			1,600,588			1,414,529
Other		20,865			26,905			25,851			24,335			31,478			108,569			192,856
Total Domestic		637,112			674,980			608,141			585,460			555,367			2,423,948			2,374,851
International:
Credit		191,415			184,448			175,417			159,208			161,024			680,097			647,467
Service contracts		79,582			112,893			91,407			71,330			66,256			341,886			247,506
Other		10,422			10,048			11,353			11,817			11,437			44,655			105,962
Total International		281,419			307,389			278,177			242,355			238,717			1,066,638			1,000,935
Total	$	918,531		$	982,369		$	886,318		$	827,815		$	794,084		$	3,490,586		$	3,375,786
Preneed (face sales)	$	86,058		$	84,246		$	105,031		$	120,545		$	123,688		$	433,510		$	542,515
Combined ratios (a):
Domestic		100.9	%		100.1	%		98.4	%		99.1	%		100.0	%		99.4	%		99.9	%
International		102.1	%		99.3	%		101.7	%		100.0	%		95.2	%		99.2	%		99.7	%
Preneed yield (1)		6.29	%		6.36	%		6.21	%		6.35	%		6.32	%		6.42	%		6.35	%
Preneed average invested assets	$	3,600,420		$	3,600,069		$	3,644,564		$	3,565,666		$	3,468,298		$	3,509,475		$	3,414,937
Investment yield(1) *		5.80	%		5.93	%		5.67	%		5.94	%		5.77	%		5.84	%		N/A
Real estate investment income (1)	$	14,448		$	276		$	1,453		$	—		$	2,506		$	4,235		$	9,409

(a) The combined ratio is equal to total benefits, losses and expenses divided by net earned premiums and other considerations and fees and other income excluding the preneed business.

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

 * Segment balance sheets as of December 31, 2004 are not available. Therefore, investment yield for the year ended December 31, 2005 is not available.

Page 8

Assurant Specialty Property

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended															For the Year Ended
($ in thousands)	March 31, 2007			December 31, 2006			September 30, 2006			June 30, 2006			March 31, 2006			December 31, 2006			December 31, 2005
Revenues:
Net earned premiums and other considerations	$	367,041		$	350,946		$	313,644		$	290,972		$	252,749		$	1,208,311		$	858,848
Net investment income		21,869			20,204			19,584			17,923			16,790			74,501			61,953
Fees and other income		12,596			13,050			13,329			13,587			9,458			49,424			38,159
		401,506			384,200			346,557			322,482			278,997			1,332,236			958,960
Benefits, losses and expenses:
Policyholder benefits		116,787			112,409			115,379			110,474			70,459			408,721			317,507
Selling, underwriting, general and administrative expenses		170,799			173,454			148,540			122,369			109,089			553,452			422,999
		287,586			285,863			263,919			232,843			179,548			962,173			740,506
Income before income taxes		113,920			98,337			82,638			89,639			99,449			370,063			218,454
Income taxes		39,486			34,381			29,193			30,363			35,005			128,942			75,227
Net operating income	$	74,434		$	63,956		$	53,445		$	59,276		$	64,444		$	241,121		$	143,227
Net Earned Premiums for selected product groupings:
Homeowners (Creditor Placed & Voluntary)	$	250,889		$	233,181		$	198,733		$	178,363		$	142,892		$	753,169		$	443,526
Manufactured Housing (Creditor Placed & Voluntary)		50,670			51,774			52,535			54,184			55,968			214,461			217,424
Other		65,482			65,991			62,376			58,425			53,889			240,681			197,898
Total	$	367,041		$	350,946		$	313,644		$	290,972		$	252,749		$	1,208,311		$	858,848
Gross Written Premiums for selected product groupings:
Homeowners (Creditor Placed & Voluntary)	$	319,053		$	330,882		$	271,632		$	247,538		$	184,096		$	1,034,148		$	697,651
Manufactured Housing (Creditor Placed & Voluntary)		67,785			73,590			82,401			80,981			69,610			306,582			311,792
Other		112,322			121,711			130,820			127,555			101,386			481,472			420,791
Total	$	499,160		$	526,183		$	484,853		$	456,074		$	355,092		$	1,822,202		$	1,430,234
Ratios:
Loss ratio (a)		31.8	%		32.0	%		36.8	%		38.0	%		27.9	%		33.8	%		37.0	%
Expense ratio (b)		45.0	%		47.7	%		45.4	%		40.2	%		41.6	%		44.0	%		47.2	%
Combined ratio (c)		75.8	%		78.5	%		80.7	%		76.5	%		68.5	%		76.5	%		82.6	%
Investment yield(1)*		5.51	%		5.54	%		5.62	%		5.70	%		5.82	%		5.67	%		N/A
Real estate investment income(1)	$	159		$	—		$	—		$	—		$	—		$	—		$	—

(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.

• Segment balance sheets as of December 31, 2004 are not available. Therefore, investment yield for the year ended December 31, 2005 is not available.

Page 9

Assurant Health

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended										For the Year Ended
($ in thousands)	March 31, 2007		December 31, 2006		September 30, 2006		June 30, 2006		March 31, 2006		December 31, 2006		December 31, 2005
Revenues:
Net earned premiums and other considerations	$	512,784	$	519,438	$	521,527	$	519,587	$	523,405	$	2,083,957	$	2,163,965
Net investment income		19,270		16,415		17,689		17,110		24,001		75,215		69,056
Fees and other income		9,688		10,549		11,035		10,250		9,726		41,560		40,344
		541,742		546,402		550,251		546,947		557,132		2,200,732		2,273,365
								��
Benefits, losses and expenses:
Policyholder benefits		317,784		328,769		325,325		321,322		325,401		1,300,817		1,344,624
Selling, underwriting, general and administrative expenses		161,410		160,411		155,186		163,019		162,712		641,328		657,899
		479,194		489,180		480,511		484,341		488,113		1,942,145		2,002,523
Income before income taxes		62,548		57,222		69,740		62,606		69,019		258,587		270,842
Income taxes		22,024		20,262		24,893		21,590		23,923		90,668		92,787
Net operating income	$	40,524	$	36,960	$	44,847	$	41,016	$	45,096	$	167,919	$	178,055
Net earned premiums and other considerations:
Individual:
Individual medical	$	314,662	$	310,826	$	305,246	$	300,267	$	297,338	$	1,213,677	$	1,164,498
Short-term medical		22,561		24,125		26,839		25,489		25,001		101,454		110,912
Subtotal		337,223		334,951		332,085		325,756		322,339		1,315,131		1,275,410
Small employer group		175,561		184,487		189,442		193,831		201,066		768,826		888,555
Total	$	512,784	$	519,438	$	521,527	$	519,587	$	523,405	$	2,083,957	$	2,163,965

Page 10

Assurant Health (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended															For the Year Ended
($ in thousands)	March 31, 2007			December 31, 2006			September 30, 2006			June 30, 2006			March 31, 2006			December 31, 2006			December 31, 2005
Sales (Annualized issued premiums):
Individual:
Individual medical	$	99,614		$	88,154		$	90,271		$	76,616		$	76,192		$	331,233		$	285,614
Short-term medical		31,939			29,078			34,841			33,612			35,014			132,545			144,476
Subtotal		131,553			117,232			125,112			110,228			111,206			463,778			430,090
Small employer group		29,520			28,652			33,336			32,527			34,573			129,088			159,387
Total	$	161,073		$	145,884		$	158,448		$	142,755		$	145,779		$	592,866		$	589,477
Membership by product line:
Individual:
Individual medical		641			641			639			632			636			641			644
Short-term medical		85			87			99			105			100			87			102
Subtotal		726			728			738			737			736			728			746
Small employer group		191			207			216			226			239			207			255
Total		917			935			954			963			975			935			1,001
Ratios:
Loss ratio (a)		62.0	%		63.3	%		62.4	%		61.8	%		62.2	%		62.4	%		62.1	%
Expense ratio (b)		30.9	%		30.3	%		29.1	%		30.8	%		30.5	%		30.2	%		29.8	%
Combined ratio (c)		91.7	%		92.3	%		90.2	%		91.4	%		91.6	%		91.4	%		90.8	%
Investment yield(1)		5.70	%		5.69	%		5.76	%		5.83	%		5.70	%		5.78	%		5.61	%
Real estate investment income(1)	$	3,535		$	123		$	646		$	—		$	7,372		$	8,141		$	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 11

Assurant Employee Benefits

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended										For the Year Ended
($ in thousands)	March 31, 2007		December 31, 2006		September 30, 2006		June 30, 2006		March 31, 2006		December 31, 2006		December 31, 2005
Revenues:
Net earned premiums and other considerations	$	296,673	$	279,978	$	291,232	$	282,581	$	326,111	$	1,179,902	$	1,277,838
Net investment income		51,887		39,049		39,893		38,744		40,839		158,525		156,889
Fees and other income		6,277		6,477		6,685		7,547		6,832		27,541		26,214
		354,837		325,504		337,810		328,872		373,782		1,365,968		1,460,941
Benefits, losses and expenses:
Policyholder benefits		212,534		193,273		196,727		195,195		245,439		830,634		936,835
Selling, underwriting, general and administrative expenses		98,026		102,353		103,726		101,827		99,114		407,020		418,542
		310,560		295,626		300,453		297,022		344,553		1,237,654		1,355,377
Income before income taxes		44,277		29,878		37,357		31,850		29,229		128,314		105,564
Income taxes		15,320		10,450		12,957		11,260		10,044		44,711		37,198
Net operating income	$	28,957	$	19,428	$	24,400	$	20,590	$	19,185	$	83,603	$	68,366
Net earned premiums and other considerations by:
Major product grouping:
Group dental	$	101,535	$	104,448	$	104,367	$	108,010	$	111,393	$	428,218	$	502,789
Group disability single premiums for closed blocks		22,847		—		12,393		—		33,920		46,313		26,700
All other group disability		118,189		119,812		119,679		119,847		121,586		480,924		489,840
Group life		54,102		55,718		54,793		54,724		59,212		224,447		258,509
Total	$	296,673	$	279,978	$	291,232	$	282,581	$	326,111	$	1,179,902	$	1,277,838

Page 12

Assurant Employee Benefits (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended															For the Year Ended
($ in thousands)	March 31, 2007			December 31, 2006			September 30, 2006			June 30, 2006			March 31, 2006			December 31, 2006			December 31, 2005
Sales:
Group dental	$	42,212		$	17,119		$	20,678		$	12,843		$	26,979		$	77,619		$	98,848
Group disability		20,394			11,126			12,362			10,022			13,633			47,143			62,655
Group life		11,875			5,859			6,954			5,344			6,681			24,838			42,044
Total	$	74,481		$	34,104		$	39,994		$	28,209		$	47,293		$	149,600		$	203,547
Ratios:
Loss ratio (a)		71.6	%		69.0	%		67.5	%		69.1	%		75.3	%		70.4	%		73.3	%
Expense ratio (b)		32.4	%		35.7	%		34.8	%		35.1	%		29.8	%		33.7	%		32.1	%
Investment yield(1)		6.09	%		6.32	%		6.25	%		6.17	%		6.47	%		6.30	%		6.19	%
Real estate investment income(1)	$	14,164		$	215		$	1,130		$	—		$	—		$	1,345		$	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 13

Assurant Corporate and Other

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended															For the Year Ended
($ in thousands)	March 31, 2007			December 31, 2006			September 30, 2006			June 30, 2006			March 31, 2006			December 31, 2006			December 31, 2005
Revenues:
Net earned premiums and other considerations	$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net investment income		11,853			7,494			6,881			7,710			13,850			35,935			27,794
Net realized gains (losses) on investments		5,570			116,720			(2,675	)		2,272			(4,452	)		111,865			8,235
Amortization of deferred gains on disposal of businesses		8,349			9,017			9,428			10,022			8,833			37,300			42,508
Fees and other income		327			(148	)		703			127			—			682			1,432
		26,099			133,083			14,337			20,131			18,231			185,782			79,969
Benefits, losses and expenses:
Policyholder benefits					—			—			5			—			5			61,943
Selling, underwriting, general and administrative expenses		16,119			32,995			17,678			15,764			16,639			83,076			96,055
Interest expense		15,297			15,306			15,307			15,315			15,315			61,243			61,258
		31,416			48,301			32,985			31,084			31,954			144,324			219,256
Loss before income taxes and cumulative effect of change in accounting principle		(5,317	)		84,782			(18,648	)		(10,953	)		(13,723	)		41,458			(139,287	)
Income taxes		3,210			32,910			(5,552	)		(4,059	)		(6,176	)		17,123			(95,847	)
Net operating (loss) income before cumulative effect of change in accounting principle		(8,527	)		51,872			(13,096	)		(6,894	)		(7,547	)		24,335			(43,440	)
Cumulative effect of change in accounting principle		—			—			—			—			1,547			1,547			—
Net operating (loss) income	$	(8,527	)	$	51,872		$	(13,096	)	$	(6,894	)	$	(6,000	)	$	25,882		$	(43,440	)
Real estate investment income	$	1,234		$	—		$	—		$	—		$	4,857		$	4,857		$	—
Corporate and Other Reconciliation
Assurant Corporate and Other Segment Net Operating Income	$	(8,527	)	$	51,872		$	(13,096	)	$	(6,894	)	$	(6,000	)	$	25,882		$	(43,440	)
Adjustments, net of tax:
Amortization of deferred gains on disposal of businesses		(5,427	)		(5,861	)		(6,128	)		(6,514	)		(5,741	)		(24,244	)		(27,631	)
Interest expense		9,943			9,949			9,950			9,955			9,955			39,809			39,818
Net realized (gains) losses on investments		(3,621	)		(75,868	)		1,739			(1,477	)		2,894			(72,712	)		(7,369	)
Excess of loss reinsurance program (1995-1997)		—			—			—			—			—			—			40,263
Expenses directly related to the secondary public offering		—			—			—			—			—			—			1,040
Cumulative effect of change in accounting principle		—			—			—			—			(1,547	)		(1,547	)		—
Corporate and other per Reconciliation of Net Operating
Income to Net Income (page 5)	$	(7,632	)	$	(19,908	)	$	(7,535	)	$	(4,930	)	$	(439	)	$	(32,812	)	$	2,681

Page 14

Assurant, Inc. and Subsidiaries

Investments

(Unaudited)

	As of				As of
($ in thousands)	March 31, 2007				December 31, 2006
Investments by Type
Fixed maturities: available-for-sale, at fair value	$	9,377,836			$	9,118,049
Equity Securities: available-for-sale, at fair value
Preferred stocks		750,956				740,603
Common stocks		842				1,036
Commercial mortgage loans on real estate, at amortized cost		1,287,058				1,266,158
Policy loans		58,413				58,733
Cash and short-term investments		1,190,605				1,301,786
Collateral held under securities lending		576,129				365,958
Other investments		564,894				564,494
Total	$	13,806,733			$	13,416,817
Fixed Maturity Securities by Credit Quality (Fair Value)
Aaa / Aa / A	$	6,334,781	68	%	$	6,416,438	70	%
Baa		2,422,981	26	%		2,067,922	23	%
Ba		485,836	5	%		531,685	6	%
B		120,670	1	%		87,359	1	%
Caa and lower		13,568	0	%		14,203	0	%
In or near default		—	0	%		442	0	%
Total	$	9,377,836	100	%	$	9,118,049	100	%
Fixed Maturity Securities by Issuer Type (Fair Value)
U.S government and government agencies and authorities	$	302,173	3	%	$	219,245	2	%
State, municipalities and political subdivisions		401,900	4	%		236,429	3	%
Foreign government		696,747	8	%		652,662	7	%
Public utilities		1,111,055	12	%		1,104,167	12	%
Mortgage backed securities		1,150,261	12	%		1,314,815	15	%
All other corporate bonds		5,715,700	61	%		5,590,731	61	%
Total	$	9,377,836	100	%	$	9,118,049	100	%

Page 15

Assurant, Inc. and Subsidiaries

Investment Results by Asset Category and Annualized Yields

(Unaudited)

	For the Three Months Ended March 31, 2007								For the Three Months Ended March 31, 2006								For the Year Ended December 31, 2006								For the Year Ended December 31, 2005
($ in thousands)	Yield		Investment Income			Investment Gain (Loss)			Yield		Investment Income			Investment Gain (Loss)			Yield		Investment Income			Investment Gain (Loss)			Yield		Investment Income			Investment Gain (Loss)
Fixed maturities: available for sale, at fair value	5.83	%	$	132,142		$	3,476		5.83	%	$	126,841		$	(2,617	)	5.89	%	$	517,744		$	(147	)	5.82	%	$	499,950		$	(8,628	)
Equity Securities: available for sale, at fair value	6.56	%		12,140			(348	)	6.32	%		11,783			(1,653	)	6.80	%		49,779			(3,742	)	6.95	%		45,621			(2,929	)
Commercial mortgage loans on real estate, at amortized cost	6.76	%		21,559			—		7.64	%		23,353			(126	)	7.26	%		90,000			15,177		7.59	%		85,942			(2,714	)
Policy loans	5.96	%		873			—		5.77	%		873			—		6.13	%		3,669			—		5.87	%		3,699			—
Cash and short-term investments	4.77	%		14,863			17		3.66	%		10,056			141		4.38	%		42,411			163		2.03	%		24,316			346
Other investments	29.49	%		41,630			2,425		18.79	%		25,965			(197	)	10.38	%		57,836			100,414		9.54	%		52,296			22,160
Total				223,207		$	5,570					198,871		$	(4,452	)				761,439		$	111,865					711,824		$	8,235
Investment expenses				(6,311	)							(6,309	)							(24,753	)							(24,567	)
Net investment income			$	216,896							$	192,562							$	736,686							$	687,257
Gross investment gain						$	10,455							$	6,125							$	153,607							$	55,845
Gross investment loss							(4,885	)							(10,577	)							(40,932	)							(46,845	)
Write-downs on available for sale securities							—								—								(810	)							(765	)
Net investment gain						$	5,570							$	(4,452	)						$	111,865							$	8,235

Page 16

Assurant, Inc. and Subsidiaries

Summary of Net Operating Income Disclosed Items—(Note 1)

Income / (Expense) Items

(unaudited)

			For the Three Months Ended
($ in millions, after-tax)			March 31, 2007					December 31, 2006					September 30, 2006			June 30, 2006					March 31, 2006
						Diluted					Diluted				Diluted				Diluted					Diluted
			$			EPS		$			EPS		$		EPS	$			EPS		$			EPS
Assurant Solutions:
Closed block of extended service contracts	(a	)	$	—		—		$	—		—		$	5.4	0.04	$	—		—		$	—		—
Expense on sale of US pre-need independent franchise	(c	)	$	—		—		$	—		—		$	—	—	$	(0.7	)	(0.01	)	$	(1.3	)	(0.01	)
Assurant Specialty Property:
Client related settlements	(b	)	$	—		—		$	5.5		0.04		$	—	—	$	—		—		$	—		—
Processing fees for the National Flood Insurance Program	(b	)	$	—		—		$	—		—		$	0.3	0.00	$	1.3		0.01		$	5.2		0.04
Catastrophe losses, net of reinsurance	(b	)	$	—		—		$	—		—		$	—	—	$	(4.5	)	(0.03	)	$	—		—
Assurant Health:
Legal related settlements	(c	)	$	—		—		$	—		—		$	2.6	0.02	$	—		—		$	—		—
Assurant Corporate and Other:
Assurant Foundation funding	(c	)	$	—		—		$	(3.3	)	(0.03	)	$	—	—	$	—		—		$	—		—
Change in certain tax liabilities	(d	)	$	(5.8	)	(0.05	)	$	(6.2	)	(0.05	)	$	—	—	$	—		—		$	—		—

(a) Fees and other income

(b) Policyholder benefits

(c) Selling, underwriting, general and administrative expenses

(d) Income taxes

(Note 1) Schedule excludes investment income from real estate joint ventures, which are shown separately in the Consolidated and Segment statements of operations.

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