Assurant (AIZ) 8-K Assurant Reports Fourth Quarter and Record Full Year Operating Results

Exhibit 99.2

Assurant, Inc. (AIZ)

Financial Supplement as of December 31, 2007

ASSURANT, INC. AND SUBSIDIARIES

FINANCIAL SUPPLEMENT

AS OF DECEMBER 31, 2007

INDEX TO SUPPLEMENT

	Page:
REGULATION G – NON GAAP FINANCIAL 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.

Assurant, a Fortune 500 company and a member of the S & P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has more than $25 billion in assets and $7 billion in annual revenue. Assurant has more than 13,000 employees worldwide and is headquartered in New York's financial district.www.assurant.com.

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 Financial Measures

Assurant uses the following non-GAAP financial measures to analyze the Company’s operating performance for the periods presented in this financial supplement. 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.

Page 1

Assurant, Inc. and Subsidiaries

Summary Financial Highlights

(Unaudited)

	For the Three Months Ended December 31,					For the Year Ended December 31,
($ in thousands, except shares and per share amounts)	2007			2006		2007			2006
Net operating income (1)	$	154,376		$	136,158	$	694,188		$	602,678
Net realized (losses) gains on investments		(33,558	)		75,868		(40,442	)		72,712
Assurant Solutions legal settlement		—			40,481		—			40,481
Net income before cumulative effect of change in accounting principle		120,818			252,507		653,746			715,871
Cumulative effect of change in accounting principle		—			—		—			1,547
Net income	$	120,818		$	252,507	$	653,746		$	717,418
Total revenues	$	2,183,333		$	2,207,633	$	8,453,515		$	8,070,584
PER SHARE AND SHARE DATA:
Basic earnings per common share
Net operating income	$	1.31		$	1.11	$	5.80		$	4.75
Net income before cumulative effect of change in accounting principle	$	1.03		$	2.05	$	5.46		$	5.65
Net income	$	1.03		$	2.05	$	5.46		$	5.66
Weighted average common shares outstanding - basic		117,758,560			123,194,025		119,737,556			126,846,990
Diluted earnings per common share
Net operating income	$	1.29		$	1.08	$	5.72		$	4.68
Net income before cumulative effect of change in accounting principle	$	1.01		$	2.01	$	5.38		$	5.56
Net income	$	1.01		$	2.01	$	5.38		$	5.57
Weighted average common shares outstanding - diluted		119,386,294			125,523,608		121,436,693			128,812,813

Page 2

Assurant, Inc. and Subsidiaries

Summary Financial Highlights (continued)

(Unaudited)

($ in thousands, except shares and per share amounts)	As of December 31, 2007			As of December 31, 2006
Total assets	$	26,750,316		$	25,165,148
Total stockholders' equity	$	4,088,903		$	3,832,597
Total stockholders' equity (excluding AOCI)	$	4,034,992		$	3,744,533
Basic book value per share	$	34.71		$	31.26
Basic book value per share (excluding AOCI)	$	34.25		$	30.54
Shares outstanding for basic book value per share calculation		117,808,007			122,618,317
Diluted book value per share	$	34.19		$	30.68
Diluted book value per share (excluding AOCI)	$	33.73		$	29.97
Shares outstanding for diluted book value per share calculation		119,609,423			124,926,639
Debt to total capital ratio (excluding AOCI)		19.7	%		21.0	%

Page 3

Assurant, Inc. and Subsidiaries

Segmented Condensed Balance Sheets

At December 31, 2007 and December 31, 2006

(Unaudited)

	At December 31, 2007
	Solutions		Specialty Property		Health		Employee Benefits		Corporate & Other(1)		Consolidated
	($ in thousands)
Assets
Investments and cash and cash equivalents	$	7,691,655	$	2,237,372	$	1,113,771	$	2,564,741	$	944,576	$	14,552,115
Reinsurance recoverables		687,441		277,395		5,036		17,584		2,916,892		3,904,348
Deferred acquisition costs		2,658,207		178,398		34,175		24,565		—		2,895,345
Goodwill		—		—		—		—		832,656		832,656
Assets held in separate accounts		255,341		—		—		—		2,887,947		3,143,288
Other assets		644,132		263,249		83,609		200,808		230,766		1,422,564
Total assets		11,936,776		2,956,414		1,236,591		2,807,698		7,812,837		26,750,316
Liabilities
Policyholder benefits and claims payable		4,676,416		314,062		500,126		1,842,861		3,159,115		10,492,580
Unearned premiums		4,171,003		1,052,326		128,756		14,259		44,365		5,410,709
Debt		—		—		—		—		971,863		971,863
Mandatorily redeemable preferred stock		—		—		—		—		21,160		21,160
Liabilities related to separate accounts		255,341		—		—		—		2,887,947		3,143,288
Accounts payable and other liabilities		1,238,933		431,952		196,812		345,220		408,896		2,621,813
Total liabilities		10,341,693		1,798,340		825,694		2,202,340		7,493,346		22,661,413
Stockholders' equity
Equity, excluding accumulated other comprehensive loss		1,595,083		1,158,074		410,897		605,358		265,580		4,034,992
Accumulated other comprehensive loss		—		—		—		—		53,911		53,911
Total stockholders' equity		1,595,083		1,158,074		410,897		605,358		319,491		4,088,903
Total liabilities and stockholders' equity	$	11,936,776	$	2,956,414	$	1,236,591	$	2,807,698	$	7,812,837	$	26,750,316
	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		1,841,366		3,153,252		10,083,213
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		336,665		536,347		2,526,968
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 (Loss), 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
($ in thousands, net of tax)	December 31, 2007			September 30, 2007			June 30, 2007			March 31, 2007			December 31, 2006			September 30, 2006			June 30, 2006			March 31, 2006			December 31, 2007			December 31, 2006
Assurant Solutions	$	32,265		$	37,377		$	30,210		$	44,069		$	39,810		$	41,707		$	37,148		$	39,747		$	143,921		$	158,412
Assurant Specialty Property		99,917			114,682			90,207			74,434			63,956			53,445			59,276			64,444			379,240			241,121
Assurant Health		38,016			39,365			33,838			40,524			36,960			44,847			41,016			45,096			151,743			167,919
Assurant Employee Benefits		16,197			20,392			21,475			28,957			19,428			24,400			20,590			19,185			87,021			83,603
Corporate and other		(27,437	)		(11,583	)		(2,862	)		(7,632	)		(19,908	)		(7,535	)		(4,930	)		(439	)		(49,514	)		(32,812	)
Amortization of deferred gains on disposal of businesses		5,360			5,394			5,360			5,427			5,861			6,128			6,514			5,741			21,541			24,244
Interest expense		(9,942	)		(9,937	)		(9,942	)		(9,943	)		(9,949	)		(9,950	)		(9,955	)		(9,955	)		(39,764	)		(39,809	)
Net operating income		154,376			195,690			168,286			175,836			136,158			153,042			149,659			163,819			694,188			602,678
Adjustments:
Net realized (losses) gains on investments		(33,558	)		(8,499	)		(2,006	)		3,621			75,868			(1,739	)		1,477			(2,894	)		(40,442	)		72,712
Assurant Solutions legal settlement		—			—			—			—			40,481			—			—			—			—			40,481
Net income before cumulative effect of change in accounting principle		120,818			187,191			166,280			179,457			252,507			151,303			151,136			160,925			653,746			715,871
Cumulative effect of change in accounting principle		—			—			—			—			—			—			—			1,547			—			1,547
Net income	$	120,818		$	187,191		$	166,280		$	179,457		$	252,507		$	151,303		$	151,136		$	162,472		$	653,746		$	717,418

Page 5

Assurant, Inc. and Subsidiaries

Consolidated Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																								For the Year Ended
($ in thousands)	December 31, 2007			September 30, 2007			June 30, 2007			March 31, 2007			December 31, 2006			September 30, 2006			June 30, 2006			March 31, 2006			December 31, 2007			December 31, 2006
Revenues:
Net earned premiums and other considerations	$	1,956,146		$	1,893,388		$	1,798,687		$	1,759,509		$	1,768,160		$	1,717,640		$	1,685,322		$	1,672,653		$	7,407,730		$	6,843,775
Net investment income		197,826			194,049			190,302			216,896			183,014			180,672			180,438			192,562			799,073			736,686
Net realized (losses) gains on investments		(51,628	)		(13,076	)		(3,086	)		5,570			116,720			(2,675	)		2,272			(4,452	)		(62,220	)		111,865
Amortization of deferred gains on disposal of businesses		8,246			8,298			8,246			8,349			9,017			9,428			10,022			8,833			33,139			37,300
Fees and other income*		72,743			65,533			70,578			66,939			130,722			79,014			71,036			60,186			275,793			340,958
		2,183,333			2,148,192			2,064,727			2,057,263			2,207,633			1,984,079			1,949,090			1,929,782			8,453,515			8,070,584
Benefits, losses and expenses:
Policyholder benefits		985,591			935,545			902,053			889,522			885,653			887,513			873,458			888,897			3,712,711			3,535,521
Selling, underwriting, general and administrative expenses		985,543			913,214			894,904			874,926			916,492			850,218			828,154			783,214			3,668,587			3,378,078
Interest expense		15,296			15,288			15,296			15,297			15,306			15,307			15,315			15,315			61,177			61,243
		1,986,430			1,864,047			1,812,253			1,779,745			1,817,451			1,753,038			1,716,927			1,687,426			7,442,475			6,974,842
Income before provision for income taxes and cumulative effect of change in accounting principle		196,903			284,145			252,474			277,518			390,182			231,041			232,163			242,356			1,011,040			1,095,742
Provision for income taxes		76,085			96,954			86,194			98,061			137,675			79,738			81,027			81,431			357,294			379,871
Net income before cumulative effect of change in accounting principle		120,818			187,191			166,280			179,457			252,507			151,303			151,136			160,925			653,746			715,871
Cumulative effect of change in accounting principle		—			—			—			—			—			—			—			1,547			—			1,547
Net income	$	120,818		$	187,191		$	166,280		$	179,457		$	252,507		$	151,303		$	151,136		$	162,472		$	653,746		$	717,418
Share repurchase program:
Shares repurchased		—			2,283,100			1,984,400			1,421,833			1,826,416			3,081,000			2,140,000			1,416,800			5,689,333			8,464,216
Average repurchase price per share	$	—		$	52.07		$	58.56		$	54.48		$	54.45		$	50.34		$	48.43		$	45.17		$	54.94		$	49.88
Repurchase price	$	—		$	118,887		$	116,216		$	77,460		$	99,444		$	155,109		$	103,630		$	64,001		$	312,563		$	422,184
AIZ Closing stock price (NYSE)	$	66.90		$	53.50		$	58.92		$	53.63		$	55.25		$	53.41		$	48.40		$	49.25		$	66.90		$	55.25
Investment yield (1)		5.70	%		5.73	%		5.69	%		5.66	%		5.73	%		5.66	%		5.83	%		5.75	%		5.69	%		5.67	%
Investment income from real estate joint venture partnerships	$	127		$	534		$	2,972		$	33,540		$	614		$	3,229		$	—		$	14,735		$	37,173		$	18,578

(1) Investment yield excludes investment income from real estate joint venture partnerships shown above.

* The three months 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
($ in thousands)	December 31, 2007		September 30, 2007		June 30, 2007		March 31, 2007		December 31, 2006		September 30, 2006		June 30, 2006		March 31, 2006		December 31, 2007		December 31, 2006
Revenues:
Net earned premiums and other considerations	$	678,844	$	649,915	$	618,675	$	583,011	$	617,798	$	591,237	$	592,182	$	570,388	$	2,530,445	$	2,371,605
Net investment income		108,899		105,631		100,784		112,017		99,852		96,625		98,951		97,082		427,331		392,510
Fees and other income*		43,580		36,623		40,957		38,051		38,516		47,262		39,525		34,170		159,211		159,473
		831,323		792,169		760,416		733,079		756,166		735,124		730,658		701,640		3,116,987		2,923,588
Benefits, losses and expenses:
Policyholder benefits		287,232		284,755		258,527		243,344		252,296		250,886		247,208		248,380		1,073,858		998,770
Selling, underwriting, general and administrative expenses		496,414		451,510		455,140		427,645		446,185		424,284		424,429		394,878		1,830,709		1,689,776
		783,646		736,265		713,667		670,989		698,481		675,170		671,637		643,258		2,904,567		2,688,546
Income before provision for income taxes		47,677		55,904		46,749		62,090		57,685		59,954		59,021		58,382		212,420		235,042
Provision for income taxes*		15,412		18,527		16,539		18,021		17,875		18,247		21,873		18,635		68,499		76,630
Net operating income*	$	32,265	$	37,377	$	30,210	$	44,069	$	39,810	$	41,707	$	37,148	$	39,747	$	143,921	$	158,412
Net earned premiums and other considerations:
Domestic:
Credit	$	70,563	$	75,638	$	76,109	$	80,921	$	86,185	$	88,470	$	98,206	$	95,851	$	303,231	$	368,712
Service contracts		322,092		292,762		280,274		261,863		278,691		255,962		256,135		249,982		1,156,991		1,040,770
Other		16,007		14,496		15,517		16,689		19,791		18,034		19,759		23,699		62,709		81,283
Total Domestic		408,662		382,896		371,900		359,473		384,667		362,466		374,100		369,532		1,522,931		1,490,765
International:
Credit		88,988		98,431		92,413		96,877		104,288		104,372		97,612		88,210		376,709		394,482
Service contracts		79,982		64,561		62,543		42,717		41,449		18,868		24,416		14,761		249,803		99,494
Other		11,598		8,307		10,260		8,979		15,158		24,327		13,311		13,933		39,144		66,729
Total International		180,568		171,299		165,216		148,573		160,895		147,567		135,339		116,904		665,656		560,705
Preneed		89,614		95,720		81,559		74,965		72,236		81,204		82,743		83,952		341,858		320,135
Total	$	678,844	$	649,915	$	618,675	$	583,011	$	617,798	$	591,237	$	592,182	$	570,388	$	2,530,445	$	2,371,605
Fee income:
Domestic:
Debt protection	$	7,459	$	7,415	$	7,469	$	8,750	$	13,523	$	13,698	$	13,750	$	13,082	$	31,093	$	54,053
Service contracts		19,963		16,679		17,190		16,877		15,872		23,556		14,432		12,567		70,709		66,427
Other		7,021		6,320		5,205		6,493		4,092		4,884		4,796		4,022		25,039		17,794
Total Domestic		34,443		30,414		29,864		32,120		33,487		42,138		32,978		29,671		126,841		138,274
International		8,113		5,179		4,384		4,492		4,433		4,069		4,165		4,276		22,168		16,943
Preneed		1,025		1,030		6,709		1,439		596		1,055		2,382		223		10,203		4,256
Total	$	43,581	$	36,623	$	40,957	$	38,051	$	38,516	$	47,262	$	39,525	$	34,170	$	159,212	$	159,473

* 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 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, 2007 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)	December 31, 2007			September 30, 2007			June 30, 2007			March 31, 2007			December 31, 2006			September 30, 2006			June 30, 2006			March 31, 2006			December 31, 2007			December 31, 2006
Gross written premiums:
Domestic:
Credit	$	159,259		$	168,135		$	167,738		$	161,843		$	179,255		$	184,120		$	182,489		$	168,927		$	656,975		$	714,791
Service contracts		491,036			434,465			448,143			454,404			468,820			398,170			378,636			354,962			1,828,048			1,600,588
Other		19,773			22,353			22,014			20,865			26,905			25,851			24,335			31,478			85,005			108,569
Total Domestic		670,068			624,953			637,895			637,112			674,980			608,141			585,460			555,367			2,570,028			2,423,948
International:
Credit		221,181			219,945			201,353			191,415			184,448			175,417			159,208			161,024			833,894			680,097
Service contracts		137,385			118,754			86,948			79,582			112,893			91,407			71,330			66,256			422,669			341,886
Other		11,059			11,176			13,933			10,422			10,048			11,353			11,817			11,437			46,590			44,655
Total International		369,625			349,875			302,234			281,419			307,389			278,177			242,355			238,717			1,303,153			1,066,638
Total	$	1,039,693		$	974,828		$	940,129		$	918,531		$	982,369		$	886,318		$	827,815		$	794,084		$	3,873,181		$	3,490,586
Preneed (face sales)	$	100,031		$	107,341		$	102,360		$	86,058		$	84,246		$	105,031		$	120,545		$	123,688		$	395,790		$	433,510
Combined ratios (a):
Domestic		101.9	%		100.9	%		100.8	%		100.9	%		100.1	%		98.4	%		99.1	%		100.0	%		101.1	%		99.4	%
International		106.1	%		102.3	%		109.7	%		102.1	%		99.3	%		101.7	%		100.0	%		95.2	%		105.1	%		99.2	%
Preneed yield (1)		6.30	%		6.50	%		6.27	%		6.29	%		6.36	%		6.21	%		6.35	%		6.32	%		6.32	%		6.42	%
Preneed average invested assets	$	3,986,933		$	3,832,047		$	3,650,784		$	3,600,420		$	3,600,069		$	3,644,564		$	3,565,666		$	3,468,298		$	3,767,556		$	3,509,475
Investment yield (1)		5.83	%		5.84	%		5.83	%		5.80	%		5.93	%		5.67	%		5.94	%		5.77	%		5.80	%		5.84	%
Investment income from real estate joint venture partnerships	$	44		$	187		$	1,045		$	14,448		$	276		$	1,453		$	—		$	2,506		$	15,724		$	4,235

(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 joint venture partnerships shown above.

Page 8

Assurant Specialty Property

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																								For the Year Ended
	December 31,			September 30,			June 30,			March 31,			December 31,			September 30,			June 30,			March 31,			December 31,			December 31,
($ in thousands)	2007			2007			2007			2007			2006			2006			2006			2006			2007			2006
Revenues:
Net earned premiums and other considerations	$	476,400		$	445,211		$	393,614		$	367,041		$	350,946		$	313,644		$	290,972		$	252,749		$	1,682,266		$	1,208,311
Net investment income		28,812			25,862			23,667			21,869			20,204			19,584			17,923			16,790			100,210			74,501
Fees and other income		13,943			12,063			12,654			12,596			13,050			13,329			13,587			9,458			51,256			49,424
		519,155			483,136			429,935			401,506			384,200			346,557			322,482			278,997			1,833,732			1,332,236
Benefits, losses and expenses:
Policyholder benefits		171,866			129,354			130,866			116,787			112,409			115,379			110,474			70,459			548,873			408,721
Selling, underwriting, general and administrative expenses		194,129			177,738			159,292			170,799			173,454			148,540			122,369			109,089			701,958			553,452
		365,995			307,092			290,158			287,586			285,863			263,919			232,843			179,548			1,250,831			962,173
Income before provision for income taxes		153,160			176,044			139,777			113,920			98,337			82,638			89,639			99,449			582,901			370,063
Provision for income taxes		53,243			61,362			49,570			39,486			34,381			29,193			30,363			35,005			203,661			128,942
Net operating income	$	99,917		$	114,682		$	90,207		$	74,434		$	63,956		$	53,445		$	59,276		$	64,444		$	379,240		$	241,121
Net earned premiums for selected product groupings:
Homeowners (Creditor Placed & Voluntary)	$	342,931		$	317,607		$	276,663		$	250,889		$	233,181		$	198,733		$	178,363		$	142,892		$	1,188,090		$	753,169
Manufactured Housing (Creditor Placed & Voluntary)		53,850			54,132			50,452			50,670			51,774			52,535			54,184			55,968			209,104			214,461
Other		79,619			73,472			66,499			65,482			65,991			62,376			58,425			53,889			285,072			240,681
Total	$	476,400		$	445,211		$	393,614		$	367,041		$	350,946		$	313,644		$	290,972		$	252,749		$	1,682,266		$	1,208,311
Gross written premiums for selected product groupings:
Homeowners (Creditor Placed & Voluntary)	$	462,730		$	420,184		$	380,099		$	319,053		$	330,882		$	271,632		$	247,538		$	184,096		$	1,582,066		$	1,034,148
Manufactured Housing (Creditor Placed & Voluntary)		79,193			77,885			77,042			67,785			73,590			82,401			80,981			69,610			301,905			306,582
Other		146,182			156,235			150,435			112,322			121,711			130,820			127,555			101,386			565,174			481,472
Total	$	688,105		$	654,304		$	607,576		$	499,160		$	526,183		$	484,853		$	456,074		$	355,092		$	2,449,145		$	1,822,202
Ratios:
Loss ratio (a)		36.1	%		29.1	%		33.2	%		31.8	%		32.0	%		36.8	%		38.0	%		27.9	%		32.6	%		33.8	%
Expense ratio (b)		39.6	%		38.9	%		39.2	%		45.0	%		47.7	%		45.4	%		40.2	%		41.6	%		40.5	%		44.0	%
Combined ratio (c)		74.6	%		67.2	%		71.4	%		75.8	%		78.5	%		80.7	%		76.5	%		68.5	%		72.2	%		76.5	%
Investment yield (1)		5.58	%		5.46	%		5.28	%		5.51	%		5.54	%		5.62	%		5.70	%		5.82	%		5.57	%		5.73	%
Investment income from real estate joint venture partnerships	$	13		$	53		$	297		$	159		$	—		$	—		$	—		$	—		$	522		$	—

(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 joint venture partnerships shown above.

Page 9

Assurant Health

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																For the Year Ended
	December 31,		September 30,		June 30,		March 31,		December 31,		September 30,		June 30,		March 31,		December 31,		December 31,
($ in thousands)	2007		2007		2007		2007		2006		2006		2006		2006		2007		2006
Revenues:
Net earned premiums and other considerations	$	509,327	$	514,233	$	513,936	$	512,784	$	519,438	$	521,527	$	519,587	$	523,405	$	2,050,280	$	2,083,957
Net investment income		15,321		15,753		16,290		19,270		16,415		17,689		17,110		24,001		66,634		75,215
Fees and other income		9,762		10,688		10,445		9,688		10,549		11,035		10,250		9,726		40,583		41,560
		534,410		540,674		540,671		541,742		546,402		550,251		546,947		557,132		2,157,497		2,200,732
Benefits, losses and expenses:
Policyholder benefits		321,851		326,479		329,327		317,784		328,769		325,325		321,322		325,401		1,295,441		1,300,817
Selling, underwriting, general and administrative expenses		152,922		153,928		159,088		161,410		160,411		155,186		163,019		162,712		627,348		641,328
		474,773		480,407		488,415		479,194		489,180		480,511		484,341		488,113		1,922,789		1,942,145
Income before provision for income taxes		59,637		60,267		52,256		62,548		57,222		69,740		62,606		69,019		234,708		258,587
Provision for income taxes		21,621		20,902		18,418		22,024		20,262		24,893		21,590		23,923		82,965		90,668
Net operating income	$	38,016	$	39,365	$	33,838	$	40,524	$	36,960	$	44,847	$	41,016	$	45,096	$	151,743	$	167,919
Net earned premiums and other considerations:
Individual:
Individual medical	$	324,727	$	323,490	$	320,442	$	314,662	$	310,826	$	305,246	$	300,267	$	297,338	$	1,283,321	$	1,213,677
Short-term medical		24,441		26,336		23,499		22,561		24,125		26,839		25,489		25,001		96,837		101,454
Subtotal		349,168		349,826		343,941		337,223		334,951		332,085		325,756		322,339		1,380,158		1,315,131
Small employer group		160,159		164,407		169,995		175,561		184,487		189,442		193,831		201,066		670,122		768,826
Total	$	509,327	$	514,233	$	513,936	$	512,784	$	519,438	$	521,527	$	519,587	$	523,405	$	2,050,280	$	2,083,957

Page 10

Assurant Health (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																								For the Year Ended
	December 31,			September 30,			June 30,			March 31,			December 31,			September 30,			June 30,			March 31,			December 31,			December 31,
($ in thousands)	2007			2007			2007			2007			2006			2006			2006			2006			2007			2006
Sales (annualized issued premiums):
Individual:
Individual medical	$	67,680		$	85,089		$	100,468		$	99,614		$	88,154		$	90,271		$	76,616		$	76,192		$	352,851		$	331,233
Short-term medical		30,219			35,285			33,606			31,939			29,078			34,841			33,612			35,014			131,049			132,545
Subtotal		97,899			120,374			134,074			131,553			117,232			125,112			110,228			111,206			483,900			463,778
Small employer group		27,345			27,414			28,307			29,520			28,652			33,336			32,527			34,573			112,586			129,088
Total	$	125,244		$	147,788		$	162,381		$	161,073		$	145,884		$	158,448		$	142,755		$	145,779		$	596,486		$	592,866
Membership by product line:
Individual:
Individual medical		619			638			650			641			641			639			632			636			619			641
Short-term medical		87			101			99			85			87			99			105			100			87			87
Subtotal		706			739			749			726			728			738			737			736			706			728
Small employer group		165			171			181			191			207			216			226			239			165			207
Total		871			910			930			917			935			954			963			975			871			935
Ratios:
Loss ratio (a)		63.2	%		63.5	%		64.1	%		62.0	%		63.3	%		62.4	%		61.8	%		62.2	%		63.2	%		62.4	%
Expense ratio (b)		29.5	%		29.3	%		30.3	%		30.9	%		30.3	%		29.1	%		30.8	%		30.5	%		30.0	%		30.2	%
Combined ratio (c)		91.5	%		91.5	%		93.1	%		91.7	%		92.3	%		90.2	%		91.4	%		91.6	%		92.0	%		91.4	%
Investment yield (1)		5.79	%		5.93	%		5.84	%		5.70	%		5.69	%		5.76	%		5.83	%		5.70	%		5.81	%		5.91	%
Investment income from real estate joint venture partnerships	$	25		$	107		$	590		$	3,535		$	123		$	646		$	—		$	7,372		$	4,257		$	8,141

(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 joint venture partnerships shown above.

Page 11

Assurant Employee Benefits

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																For the Year Ended
	December 31,		September 30,		June 30,		March 31,		December 31,		September 30,		June 30,		March 31,		December 31,		December 31,
($ in thousands)	2007		2007		2007		2007		2006		2006		2006		2006		2007		2006
Revenues:
Net earned premiums and other considerations	$	291,575	$	284,029	$	272,462	$	296,673	$	279,978	$	291,232	$	282,581	$	326,111	$	1,144,739	$	1,179,902
Net investment income		37,614		38,046		39,408		51,887		39,049		39,893		38,744		40,839		166,955		158,525
Fees and other income		5,301		6,040		6,379		6,277		6,477		6,685		7,547		6,832		23,997		27,541
		334,490		328,115		318,249		354,837		325,504		337,810		328,872		373,782		1,335,691		1,365,968
Benefits, losses and expenses:
Policyholder benefits		200,673		194,957		183,333		211,607		192,179		195,923		194,449		244,657		790,570		827,208
Selling, underwriting, general and administrative expenses		108,847		101,978		102,090		98,953		103,447		104,530		102,573		99,896		411,868		410,446
		309,520		296,935		285,423		310,560		295,626		300,453		297,022		344,553		1,202,438		1,237,654
Income before provision for income taxes		24,970		31,180		32,826		44,277		29,878		37,357		31,850		29,229		133,253		128,314
Provision for income taxes		8,773		10,788		11,351		15,320		10,450		12,957		11,260		10,044		46,232		44,711
Net operating income	$	16,197	$	20,392	$	21,475	$	28,957	$	19,428	$	24,400	$	20,590	$	19,185	$	87,021	$	83,603
Net earned premiums and other considerations by:
Major product grouping:
Group dental	$	104,938	$	103,770	$	102,567	$	101,535	$	104,448	$	104,367	$	108,010	$	111,393	$	412,810	$	428,218
Group disability single premiums for closed blocks		14,326		12,283		—		22,847		—		12,393		—		33,920		49,456		46,313
All other group disability		118,858		114,904		115,539		118,189		119,812		119,679		119,847		121,586		467,490		480,924
Group life		53,453		53,072		54,356		54,102		55,718		54,793		54,724		59,212		214,983		224,447
Total	$	291,575	$	284,029	$	272,462	$	296,673	$	279,978	$	291,232	$	282,581	$	326,111	$	1,144,739	$	1,179,902

Page 12

Assurant Employee Benefits (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																								For the Year Ended
	December 31,			September 30,			June 30,			March 31,			December 31,			September 30,			June 30,			March 31,			December 31,			December 31,
($ in thousands)	2007			2007			2007			2007			2006			2006			2006			2006			2007			2006
Sales:
Group dental	$	16,969		$	26,780		$	19,747		$	42,212		$	17,119		$	20,678		$	12,843		$	26,979		$	105,708		$	77,619
Group disability		10,984			12,314			14,121			20,394			11,126			12,362			10,022			13,633			57,813			47,143
Group life		6,069			6,210			7,051			11,875			5,859			6,954			5,344			6,681			31,205			24,838
Total	$	34,022		$	45,304		$	40,919		$	74,481		$	34,104		$	39,994		$	28,209		$	47,293		$	194,726		$	149,600
Ratios:
Loss ratio (a)		68.8	%		68.6	%		67.3	%		71.3	%		68.6	%		67.3	%		68.8	%		75.0	%		69.1	%		70.1	%
Expense ratio (b)		36.7	%		35.2	%		36.6	%		32.7	%		36.1	%		35.1	%		35.4	%		30.0	%		35.2	%		34.0	%
Investment yield (1)		6.16	%		6.19	%		6.21	%		6.09	%		6.32	%		6.25	%		6.17	%		6.47	%		6.17	%		6.31	%
Investment income from real estate joint venture partnerships	$	45		$	187		$	1,040		$	14,164		$	215		$	1,130		$	—		$	—		$	15,436		$	1,345

(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 joint venture partnerships shown above.

Page 13

Assurant Corporate and Other

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																								For the Year Ended
	December 31,			September 30,			June 30,			March 31,			December 31,			September 30,			June 30,			March 31,			December 31,			December 31,
($ in thousands)	2007			2007			2007			2007			2006			2006			2006			2006			2007			2006
Revenues:
Net earned premiums and other considerations	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net investment income		7,180			8,757			10,153			11,853			7,494			6,881			7,710			13,850			37,943			35,935
Net realized (losses) gains on investments		(51,628	)		(13,076	)		(3,086	)		5,570			116,720			(2,675	)		2,272			(4,452	)		(62,220	)		111,865
Amortization of deferred gains on disposal of businesses		8,246			8,298			8,246			8,349			9,017			9,428			10,022			8,833			33,139			37,300
Fees and other income		157			119			143			327			(148	)		703			127			—			746			682
		(36,045	)		4,098			15,456			26,099			133,083			14,337			20,131			18,231			9,608			185,782
Benefits, losses and expenses:
Policyholder benefits		3,969			—			—			—			—			—			5			—			3,969			5
Selling, underwriting, general and administrative expenses		33,231			28,060			19,294			16,119			32,995			17,678			15,764			16,639			96,704			83,076
Interest expense		15,296			15,288			15,296			15,297			15,306			15,307			15,315			15,315			61,177			61,243
		52,496			43,348			34,590			31,416			48,301			32,985			31,084			31,954			161,850			144,324
(Loss) income before provision for income taxes and cumulative effect of change in accounting principle		(88,541	)		(39,250	)		(19,134	)		(5,317	)		84,782			(18,648	)		(10,953	)		(13,723	)		(152,242	)		41,458
Provision for income taxes		(22,964	)		(14,625	)		(9,684	)		3,210			32,910			(5,552	)		(4,059	)		(6,176	)		(44,063	)		17,123
Net operating (loss) income before cumulative effect of change in accounting principle		(65,577	)		(24,625	)		(9,450	)		(8,527	)		51,872			(13,096	)		(6,894	)		(7,547	)		(108,179	)		24,335
Cumulative effect of change in accounting principle		—			—			—			—			—			—			—			1,547			—			1,547
Net operating (loss) income	$	(65,577	)	$	(24,625	)	$	(9,450	)	$	(8,527	)	$	51,872		$	(13,096	)	$	(6,894	)	$	(6,000	)	$	(108,179	)	$	25,882
Investment income from real estate joint venture partnerships	$	—		$	—		$	—		$	1,234		$	—		$	—		$	—		$	4,857		$	1,234		$	4,857
Corporate and Other Reconciliation
Assurant Corporate and Other Segment Net Operating Income	$	(65,577	)	$	(24,625	)	$	(9,450	)	$	(8,527	)	$	51,872		$	(13,096	)	$	(6,894	)	$	(6,000	)	$	(108,179	)	$	25,882
Adjustments, net of tax:
Amortization of deferred gains on disposal of businesses		(5,360	)		(5,394	)		(5,360	)		(5,427	)		(5,861	)		(6,128	)		(6,514	)		(5,741	)		(21,541	)		(24,244	)
Interest expense		9,942			9,937			9,942			9,943			9,949			9,950			9,955			9,955			39,764			39,809
Net realized losses (gains) on investments		33,558			8,499			2,006			(3,621	)		(75,868	)		1,739			(1,477	)		2,894			40,442			(72,712	)
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)	$	(27,437	)	$	(11,583	)	$	(2,862	)	$	(7,632	)	$	(19,908	)	$	(7,535	)	$	(4,930	)	$	(439	)	$	(49,514	)	$	(32,812	)

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Assurant, Inc. and Subsidiaries

Investments

(Unaudited)

	As of				As of
	December 31,				December 31,
($ in thousands)	2007				2006
Investments by Type
Fixed maturities: available for sale, at fair value	$	10,126,415			$	9,118,049
Equity securities: available for sale, at fair value
Preferred stocks		613,525				740,603
Common stocks		22,476				1,036
Commercial mortgage loans on real estate, at amortized cost		1,433,626				1,266,158
Policy loans		57,107				58,733
Cash and short-term investments		1,215,842				1,301,786
Collateral held under securities lending		541,650				365,958
Other investments		541,474				564,494
Total	$	14,552,115			$	13,416,817
Fixed Maturity Securities by Credit Quality (Fair Value)
Aaa / Aa / A	$	6,917,249	69	%	$	6,127,830	67	%
Baa		2,570,640	25	%		2,386,317	26	%
Ba		492,822	5	%		479,037	5	%
B and lower		145,704	1	%		124,865	2	%
Total	$	10,126,415	100	%	$	9,118,049	100	%
Fixed Maturity Securities by Issuer Type (Fair Value)
U.S government and government agencies and authorities	$	297,278	3	%	$	327,463	3	%
State, municipalities and political subdivisions		646,549	6	%		236,429	3	%
Foreign government		704,246	7	%		652,662	7	%
Public utilities		1,173,747	12	%		1,104,167	12	%
Mortgage backed securities		1,020,614	10	%		1,206,597	14	%
All other corporate bonds		6,283,981	62	%		5,590,731	61	%
Total	$	10,126,415	100	%	$	9,118,049	100	%

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Assurant, Inc. and Subsidiaries

Investment Results by Asset Category and Annualized Yields

(Unaudited)

	For the Three Months Ended December 31, 2007								For the Three Months Ended December 31, 2006								For the Year Ended December 31, 2007								For the Year Ended December 31, 2006
($ in thousands)	Yield		Investment Income			Realized Gain (Loss)			Yield		Investment Income			Realized Gain (Loss)			Yield		Investment Income			Realized Gain (Loss)			Yield		Investment Income			Realized Gain (Loss)
Fixed maturities: available for sale, at fair value	5.99	%	$	148,887		$	(30,357	)	5.82	%	$	130,748		$	4,485		5.96	%	$	564,369		$	(45,587	)	5.84	%	$	517,744		$	(147	)
Equity securities: available for sale, at fair value	6.28	%		11,299			(21,154	)	6.56	%		12,247			(1,164	)	6.46	%		47,264			(27,248	)	6.65	%		49,779			(3,742	)
Commercial mortgage loans on real estate, at amortized cost	6.79	%		24,112			(532	)	7.34	%		23,200			15,581		6.79	%		91,702			(532	)	7.23	%		90,000			15,177
Policy loans	7.78	%		1,117			—		7.75	%		1,137			—		6.84	%		3,967			—		6.17	%		3,669			—
Cash and short-term investments	4.73	%		13,904			—		4.22	%		11,701			12		4.69	%		57,353			94		3.99	%		42,411			163
Other investments	3.81	%		5,187			415		7.33	%		10,079			97,806		10.85	%		59,998			11,053		10.53	%		57,836			100,414
Total				204,506		$	(51,628	)				189,112		$	116,720					824,653		$	(62,220	)				761,439		$	111,865
Investment expenses				(6,680	)							(6,098	)							(25,580	)							(24,753	)
Net investment income			$	197,826							$	183,014							$	799,073							$	736,686
Gross realized gain						$	11,854							$	131,535							$	41,863							$	153,607
Gross realized loss							(21,997	)							(14,005	)							(55,899	)							(40,932	)
Other than temporary impairments on available for sale securities							(41,485	)							(810	)							(48,184	)							(810	)
Net realized (losses)						$	(51,628	)						$	116,720							$	(62,220	)						$	111,865

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Assurant, Inc. and Subsidiaries

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

Income / (Expense) Items

(unaudited)

		For the Three Months Ended
		December 31,						September 30,					June 30,					March 31,					December 31,					September 30,			June 30,					March 31,
($ in millions, after-tax)		2007						2007					2007					2007					2006					2006			2006					2006
					Diluted						Diluted					Diluted					Diluted					Diluted				Diluted				Diluted					Diluted
		$			EPS			$			EPS		$			EPS		$			EPS		$			EPS		$		EPS	$			EPS		$			EPS
Assurant Solutions:
Closed block of extended service contracts	(a)	$	—		$	—		$	—		—		$	—		—		$	—		—		$	—		—		$	5.4	0.04	$	—		—		$	—		—
Fees/(Expenses) from sale of US pre-need independent franchise	(a)(c)	$	—		$	—		$	—		—		$	3.5		0.03		$	—		—		$	—		—		$	—	—	$	(0.7	)	(0.01	)	$	(1.3	)	(0.01	)
Loss from repriced/discontinued international product	(b)(c)	$	—		$	—		$	(2.2	)	(0.02	)	$	(4.4	)	(0.04	)	$	—		—		$	—		—		$	—	—	$	—		—		$	—		—
Reconciliation of client commissions project	(c)	$	3.8		$	0.03		$	0.6		0.01		$	4.5		0.04		$	—		—		$	—		—		$	—	—	$	—		—		$	—		—
Client related settlements	(a)	$	(3.4	)	$	(0.03	)	$	—		—		$	—		—		$	—		—		$	—		—		$	—	—	$	—		—		$	—		—
Assurant Specialty Property:
Reconciliation of client commissions project	(c)	$	5.9		$	0.05		$	2.3		0.02		$	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)	$	(22.2	)	$	(0.19	)	$	—		—		$	—		—		$	—		—		$	—		—		$	—	—	$	(4.5	)	(0.03	)	$	—		—
Client related settlements	(b)	$	—		$	—		$	—		—		$	—		—		$	—		—		$	5.5		0.04		$	—	—	$	—		—		$	—		—
Assurant Health:
Legal related settlements	(c)	$	2.5		$	0.02		$	—		—		$	—		—		$	—		—		$	—		—		$	2.6	0.02	$	—		—		$	—		—
Assurant Employee Benefits:
Change in administration of state specific contract provisions	(b)	$	(2.1	)	$	(0.02	)	$	—		—		$	—		—		$	—		—		$	—		—		$	—	—	$	—		—		$	—		—
Assurant Corporate and Other:
Assurant Foundation funding	(c)	$	—		$	—		$	—		—		$	—		—		$	—		—		$	(3.3	)	(0.03	)	$	—	—	$	—		—		$	—		—
Expenses related to SEC investigation	(c)	$	(4.3	)	$	(0.04	)	$	(3.2	)	(0.03	)	$	—		—		$	—		—		$	—		—		$	—	—	$	—		—		$	—		—
Change in certain tax liabilities/receivables	(d)	$	(6.4	)	$	(0.05	)	$	(0.6	)	(0.01	)	$	2.9		0.02		$	(5.8	)	(0.05	)	$	(6.2	)	(0.05	)	$	—	—	$	—		—		$	—		—

Statement of Operations line impact:

(a) Fees and other income

(b) Policyholder benefits

(c) Selling, underwriting, general and administrative expenses

(d) Income taxes

Page 17