Assurant (AIZ) 8-K Assurant Reports Q3 2008 Net Operating Income of $83.1 Million

Exhibit 99.2

Assurant, Inc. (AIZ)

Financial Supplement as of September 30, 2008

ASSURANT, INC. AND SUBSIDIARIES

FINANCIAL SUPPLEMENT

(UNAUDITED)

AS OF SEPTEMBER 30, 2008

INDEX TO SUPPLEMENT

	Page:
SAFE HARBOR STATEMENT & REGULATION G – NON GAAP FINANCIAL MEASURES	1
SUMMARY FINANCIAL HIGHLIGHTS	2
SEGMENTED CONDENSED BALANCE SHEETS	4
RECONCILIATION OF NET OPERATING INCOME TO NET INCOME	5
CONSOLIDATED CONDENSED STATEMENT OF OPERATIONS	6
CONDENSED SEGMENT STATEMENTS OF OPERATIONS	7
INVESTMENTS	16
INVESTMENT RESULTS BY ASSET CATEGORY & ANNUALIZED YIELDS	18
SUMMARY OF NET OPERATING INCOME DISCLOSED ITEMS	19
EXHIBIT I – TOP 30 ISSUER EXPOSURES	20
EXHIBIT II – COMMERCIAL MORTGAGE LOANS SUMMARY	21

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 $8 billion in annual revenue. Assurant has approximately 14,000 employees worldwide and is headquartered in New York's financial district.www.assurant.com.

Safe Harbor Statement:

Some of the statements included in this press release and its exhibits, 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. You can identify these statements by the fact that they may use words such as “will,” “anticipate,” “expect,” “estimate,” “project,” “intend,” “plan,” “believe,” “target,” “forecast,” or the negative versions of those words and terms with a similar meaning. Our actual results might differ materially from those projected in the forward-looking statements. The Company undertakes no obligation to update any forward-looking statements in this earnings release or the exhibits as a result of new information or future events or developments.

The following risk factors could cause our actual results to differ materially from those currently estimated by management: (i) failure to maintain significant client relationships, distribution sources and contractual arrangements; (ii) failure to attract and retain sales representatives; (iii) general global economic, financial market and political conditions (including difficult conditions in financial, capital and credit markets and the global economic slowdown including fluctuations in interest rates, mortgage rates, monetary policies and inflationary pressure); (iv) inadequacy of reserves established for future claims losses; (v) failure to predict or manage benefits, claims and other costs; (vi) diminished value of invested assets in our investment portfolio (due to, among other things, the recent volatility in financial markets and the global economic slowdown, credit and liquidity risk, environmental liability exposure and inability to target an appropriate overall risk level); (vii) losses due to natural and man-made catastrophes; (viii) unavailability, inadequacy and unaffordable pricing of reinsurance coverage; (ix) inability of reinsurers to meet their obligations; (x) insolvency of third parties to whom we have sold or may sell businesses through reinsurance or modified co-insurance; (xi) credit risk of some of our agents in Assurant Specialty Property and Solutions;

(xii) a further decline in the manufactured housing industry; (xiii) a decline in our credit or financial strength ratings (including the currently heightened risk of ratings downgrades in the insurance industry); (xiv) failure to effectively maintain and modernize our information systems; (xv) failure to protect client information and privacy; (xvi) failure to find and integrate suitable acquisitions and new insurance ventures; (xvii) inability of our subsidiaries to pay sufficient dividends; (xviii) failure to provide for succession of senior management and key executives; (xix) negative publicity and impact on our business due to unfavorable outcomes in litigation and regulatory investigations (including the potential impact on our reputation and business of a negative outcome in the ongoing SEC investigation); (xx) significant competitive pressures in our businesses and cyclicality of the insurance industry: (xxi) current or new laws and regulations that could increase our costs or limit our growth.

For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our SEC reports, including, but not limited to, our upcoming Third Quarter 2008 10-Q filing, and 2007 Annual Report on 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 net 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) Assurant uses annualized operating ROE as an important measure of the company’s operating performance. Annualized operating ROE equals year-to-date net operating income divided by average stockholders’ equity for the year to date period, excluding AOCI, and then the return is annualized. The company believes annualized operating ROE provides investors a valuable measure of the performance of the company’s ongoing business, because it excludes the effect of realized gains (losses) on investments that tend to be highly variable and those events that are unusual and/or unlikely to recur. The comparable GAAP measure for this included measure would be annualized GAAP return on equity, defined as the annualized return of net income divided by average stockholders’ equity for the period. Consolidated GAAP ROE for the three months and nine months ended September 30, 2008 was –11.2% and 9.0%, respectively. Please refer to page 6 of the financial supplement for the reconciliation of annualized operating ROE to annualized GAAP ROE.

1

Assurant, Inc. and Subsidiaries

Summary Financial Highlights

(Unaudited)

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
($ in thousands, except number of shares and per share amounts)	2008			2007			2008			2007
Net operating income (1)	$	83,054		$	195,690		$	483,724		$	539,812
Net realized (losses) on investments		(194,483	)		(8,499	)		(244,999	)		(6,884	)
Gain on sale of inactive subsidiary		—			—			26,630			—
Net (loss) income	$	(111,429	)	$	187,191		$	265,355		$	532,928
Total revenues	$	1,954,535		$	2,148,192		$	6,380,620		$	6,270,182
PER SHARE AND SHARE DATA:
Basic earnings per common share
Net operating income	$	0.71		$	1.65		$	4.10		$	4.48
Net (loss) income	$	(0.95	)	$	1.58		$	2.25		$	4.43
Weighted average common shares outstanding - basic		117,750,167			118,447,175			117,897,422			120,404,471
Diluted earnings per common share
Net operating income	$	0.70		$	1.63		$	4.06		$	4.42
Net (loss) income (2)	$	(0.95	)	$	1.56		$	2.23		$	4.37
Weighted average common shares outstanding - diluted		118,722,371			119,741,434			119,144,476			122,062,011

(1) See Footnote (1) Regulation G—Non GAAP Financial Measures on page 1.

(2) In compliance with GAAP, there is no dilution of shares when calculating earnings per share due to a net loss position for the three months ended September 30, 2008.

2

Assurant, Inc. and Subsidiaries

Summary Financial Highlights (continued)

(Unaudited)

($ in thousands, except shares and per share amounts)	As of September 30, 2008			As of December 31, 2007
Total assets	$	25,354,315		$	26,750,316
Total stockholders’ equity	$	3,731,811		$	4,088,903
Total stockholders’ equity (excluding AOCI)	$	4,207,609		$	4,034,992
Basic book value per share	$	31.80		$	34.71
Basic book value per share (excluding AOCI)	$	35.85		$	34.25
Shares outstanding for basic book value per share calculation		117,362,285			117,808,007
Diluted book value per share	$	31.57		$	34.19
Diluted book value per share (excluding AOCI)	$	35.60		$	33.73
Shares outstanding for diluted book value per share calculation		118,203,724			119,609,423
Debt to total capital ratio (excluding AOCI)		18.9	%		19.7	%

3

Assurant, Inc. and Subsidiaries

Segmented Condensed Balance Sheets

(Unaudited)

	At September 30, 2008
	Solutions		Specialty Property		Health		Employee Benefits		Corporate & Other(1)			Consolidated
	($ in thousands)
Assets
Investments and cash and cash equivalents	$	7,853,790	$	2,513,877	$	943,164	$	2,419,629	$	(68,064	)	$	13,662,396
Reinsurance recoverables		656,055		366,653		7,201		20,624		2,965,284			4,015,817
Deferred acquisition costs		2,540,693		195,625		20,934		26,346		—			2,783,598
Goodwill		—		—		—		—		840,490			840,490
Assets held in separate accounts		224,292		—		—		—		2,028,096			2,252,388
Other assets		473,302		344,821		114,689		82,287		784,527			1,799,626
Total assets	$	11,748,132	$	3,420,976	$	1,085,988	$	2,548,886	$	6,550,333		$	25,354,315
Liabilities
Policyholder benefits and claims payable	$	4,683,498	$	512,137	$	477,159	$	1,783,263	$	3,200,828		$	10,656,885
Unearned premiums		4,184,624		1,210,398		127,535		14,171		42,432			5,579,160
Debt		—		—		—		—		971,933			971,933
Mandatorily redeemable preferred stock		—		—		—		—		11,160			11,160
Liabilities related to separate accounts		224,292		—		—		—		2,028,096			2,252,388
Accounts payable and other liabilities		884,269		408,791		152,519		255,814		449,585			2,150,978
Total liabilities		9,976,683		2,131,326		757,213		2,053,248		6,704,034			21,622,504
Stockholders’ equity
Equity, excluding accumulated other comprehensive loss		1,771,449		1,289,650		328,775		495,638		322,097			4,207,609
Accumulated other comprehensive loss		—		—		—		—		(475,798	)		(475,798	)
Total stockholders’ equity		1,771,449		1,289,650		328,775		495,638		(153,701	)		3,731,811
Total liabilities and stockholders’ equity	$	11,748,132	$	3,420,976	$	1,085,988	$	2,548,886	$	6,550,333		$	25,354,315
	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 income		1,595,083		1,158,074		410,897		605,358		265,580			4,034,992
Accumulated other comprehensive income		—		—		—		—		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

(1) The 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.

4

Assurant, Inc. and Subsidiaries

Reconciliation of Net Operating Income to Net Income

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands, net of tax)	September 30, 2008			June 30, 2008			March 31, 2008			December 31, 2007			September 30, 2007			June 30, 2007			March 31, 2007			September 30, 2008			September 30, 2007
Assurant Solutions	$	20,387		$	32,355		$	47,557		$	32,265		$	37,377		$	30,210		$	44,069		$	100,299		$	111,656
Assurant Specialty Property		30,942			131,042			124,744			99,917			114,682			90,207			74,434			286,728			279,323
Assurant Health		30,204			27,721			37,263			38,016			39,365			33,838			40,524			95,188			113,727
Assurant Employee Benefits		21,457			18,630			16,332			16,197			20,392			21,475			28,957			56,419			70,824
Corporate and other		(14,858	)		(18,777	)		(5,882	)		(27,436	)		(11,583	)		(2,862	)		(7,632	)		(39,517	)		(22,077	)
Amortization of deferred gains on disposal of businesses		4,796			4,763			4,796			5,360			5,394			5,360			5,427			14,355			16,181
Interest expense		(9,874	)		(9,937	)		(9,937	)		(9,943	)		(9,937	)		(9,942	)		(9,943	)		(29,748	)		(29,822	)
Net operating income		83,054			185,797			214,873			154,376			195,690			168,286			175,836			483,724			539,812
Adjustments:
Net realized (losses) gains on investments		(194,483	)		(22,473	)		(28,043	)		(33,558	)		(8,499	)		(2,006	)		3,621			(244,999	)		(6,884	)
Gain on sale of inactive subsidiary		—			26,630			—			—			—			—			—			26,630			—
Net (loss) income	$	(111,429	)	$	189,954		$	186,830		$	120,818		$	187,191		$	166,280		$	179,457		$	265,355		$	532,928

5

Assurant, Inc. and Subsidiaries

Consolidated Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands, except per share data and closing stock price)	September 30, 2008			June 30, 2008			March 31, 2008			December 31, 2007			September 30, 2007			June 30, 2007			March 31, 2007			September 30, 2008			September 30, 2007
Revenues:
Net earned premiums and other considerations	$	1,984,136		$	1,995,516		$	1,941,417		$	1,956,146		$	1,893,388		$	1,798,687		$	1,759,509		$	5,921,069		$	5,451,584
Net investment income		192,314			201,211			197,774			197,826			194,049			190,302			216,896			591,299			601,247
Net realized (losses) gains on investments		(299,205	)		(34,574	)		(43,143	)		(51,628	)		(13,076	)		(3,086	)		5,570			(376,922	)		(10,592	)
Amortization of deferred gains on disposal of businesses		7,379			7,327			7,379			8,246			8,298			8,246			8,349			22,085			24,893
Fees and other income		69,911			79,280			73,898			72,743			65,533			70,578			66,939			223,089			203,050
		1,954,535			2,248,760			2,177,325			2,183,333			2,148,192			2,064,727			2,057,263			6,380,620			6,270,182
Benefits, losses and expenses:
Policyholder benefits		1,095,048			998,208			937,459			985,591			935,545			902,053			889,522			3,030,715			2,727,120
Selling, underwriting, general and administrative expenses		1,007,817			985,851			938,650			985,542			913,214			894,904			874,926			2,932,318			2,683,044
Interest expense		15,190			15,287			15,288			15,297			15,288			15,296			15,297			45,765			45,881
		2,118,055			1,999,346			1,891,397			1,986,430			1,864,047			1,812,253			1,779,745			6,008,798			5,456,045
(Loss) income before provision for income taxes		(163,520	)		249,414			285,928			196,903			284,145			252,474			277,518			371,822			814,137
(Benefit) provision for income taxes		(52,091	)		59,460			99,098			76,085			96,954			86,194			98,061			106,467			281,209
Net (loss) income	$	(111,429	)	$	189,954		$	186,830		$	120,818		$	187,191		$	166,280		$	179,457		$	265,355		$	532,928
Diluted per share data:
Net operating income per diluted share	$	0.70		$	1.55		$	1.80		$	1.29		$	1.63		$	1.37		$	1.42		$	4.06		$	4.42
Book value per diluted share (excluding AOCI)	$	35.60		$	36.68		$	35.33		$	33.73		$	32.99		$	31.81		$	31.14		$	35.60		$	32.99
Annualized operating return on average equity (excluding AOCI) (1)		7.7	%		17.3	%		20.8	%		15.5	%		20.1	%		17.5	%		18.6	%		15.6	%		18.8	%
Net realized (losses) gains on investments		-18.1	%		-2.1	%		-2.7	%		-3.4	%		-0.9	%		-0.2	%		0.4	%		-7.9	%		-0.2	%
Gain on sale of inactive subsidiary		—			2.5	%		—			—			—			—			—			0.9	%		—
Change due to effect of including AOCI		-0.8	%		0.3	%		-0.1	%		—			0.2	%		-0.1	%		-0.4	%		0.4	%		-0.2	%
Annualized GAAP return on average equity (1)		-11.2	%		18.0	%		18.0	%		12.1	%		19.4	%		17.2	%		18.5	%		9.0	%		18.3	%
Share repurchases:
Shares repurchased		1,000,000			—			—			—			2,283,100			1,984,400			1,421,833			1,000,000			5,689,333
Average repurchase price per share	$	59.00		$	—		$	—		$	—		$	52.07		$	58.56		$	54.48		$	59.00		$	54.94
Repurchase price	$	59,000		$	—		$	—		$	—		$	118,887		$	116,216		$	77,460		$	59,000		$	312,563
AIZ Closing stock price (NYSE)	$	55.00		$	65.96		$	60.86		$	66.90		$	53.50		$	58.92		$	53.63		$	55.00		$	53.50
Investment yield(1)		5.44	%		5.56	%		5.61	%		5.70	%		5.73	%		5.69	%		5.66	%		5.59	%		5.68	%
Investment income from real estate joint venture partnerships	$	—		$	3,457		$	—		$	127		$	534		$	2,972		$	33,540		$	3,457		$	37,046

(1) See Footnote (2) Regulation G - Non GAAP Financial Measures on page 1.

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

6

Assurant Solutions

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended															For the Nine Months Ended
($ in thousands)	September 30, 2008			June 30, 2008		March 31, 2008		December 31, 2007		September 30, 2007		June 30, 2007		March 31, 2007		September 30, 2008		September 30, 2007
Revenues:
Net earned premiums and other considerations	$	707,115		$	700,629	$	683,493	$	678,844	$	649,915	$	618,675	$	583,011	$	2,091,237	$	1,851,601
Net investment income		105,539			108,425		106,730		108,899		105,631		100,784		112,017		320,694		318,432
Fees and other income		40,623			47,668		44,281		43,580		36,623		40,957		38,051		132,572		115,631
		853,277			856,722		834,504		831,323		792,169		760,416		733,079		2,544,503		2,285,664
Benefits, losses and expenses:
Policyholder benefits		295,190			306,173		286,680		287,232		284,755		258,527		243,344		888,043		786,626
Selling, underwriting, general and administrative expenses		527,779			503,073		475,533		496,414		451,510		455,140		427,645		1,506,385		1,334,295
		822,969			809,246		762,213		783,646		736,265		713,667		670,989		2,394,428		2,120,921
Income before provision for income taxes		30,308			47,476		72,291		47,677		55,904		46,749		62,090		150,075		164,743
Provision for income taxes		9,921			15,121		24,734		15,412		18,527		16,539		18,021		49,776		53,087
Net operating income	$	20,387		$	32,355	$	47,557	$	32,265	$	37,377	$	30,210	$	44,069	$	100,299	$	111,656
Net earned premiums and other considerations:
Domestic:
Credit	$	70,270		$	69,808	$	73,253	$	70,563	$	75,638	$	76,109	$	80,921	$	213,331	$	232,668
Service contracts		334,386			335,552		319,515		322,092		292,762		280,274		261,863		989,453		834,899
Other		13,685			15,186		15,434		16,007		14,496		15,517		16,689		44,305		46,702
Total Domestic		418,341			420,546		408,202		408,662		382,896		371,900		359,473		1,247,089		1,114,269
International:
Credit		98,645			88,661		98,264		88,988		98,431		92,413		96,877		285,570		287,721
Service contracts		93,745			90,128		77,667		79,982		64,561		62,543		42,717		261,540		169,821
Other		(139	)		6,903		9,598		11,598		8,307		10,260		8,979		16,362		27,546
Total International		192,251			185,692		185,529		180,568		171,299		165,216		148,573		563,472		485,088
Preneed:
Domestic and international		88,293			85,253		80,654		79,446		85,050		70,358		63,288		254,200		218,696
Domestic independent runoff		8,230			9,138		9,108		10,168		10,670		11,201		11,677		26,476		33,548
Total Preneed		96,523			94,391		89,762		89,614		95,720		81,559		74,965		280,676		252,244
Total	$	707,115		$	700,629	$	683,493	$	678,844	$	649,915	$	618,675	$	583,011	$	2,091,237	$	1,851,601
Fee income:
Domestic:
Debt protection	$	8,495		$	8,284	$	7,915	$	7,459	$	7,415	$	7,469	$	8,750	$	24,694	$	23,634
Service contracts		18,472			19,941		18,370		19,963		16,679		17,190		16,877		56,783		50,746
Other		6,873			7,439		5,735		7,021		6,320		5,205		6,493		20,047		18,018
Total Domestic		33,840			35,664		32,020		34,443		30,414		29,864		32,120		101,524		92,398
International		7,272			9,706		9,740		8,113		5,179		4,384		4,492		26,718		14,055
Preneed		(489	)		2,298		2,521		1,024		1,030		6,709		1,439		4,330		9,178
Total	$	40,623		$	47,668	$	44,281	$	43,580	$	36,623	$	40,957	$	38,051	$	132,572	$	115,631

7

Assurant Solutions (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands)	September 30, 2008			June 30, 2008			March 31, 2008			December 31, 2007			September 30, 2007			June 30, 2007			March 31, 2007			September 30, 2008			September 30, 2007
Gross written premiums:
Domestic:
Credit	$	151,717		$	152,730		$	152,341		$	159,259		$	168,135		$	167,738		$	161,843		$	456,788		$	497,716
Service contracts		385,153			396,157			393,811			491,036			434,465			448,143			454,404			1,175,121			1,337,012
Other		17,858			17,076			16,758			19,773			22,353			22,014			20,865			51,692			65,232
Total Domestic		554,728			565,963			562,910			670,068			624,953			637,895			637,112			1,683,601			1,899,960
International:
Credit		213,322			214,407			219,212			221,181			219,945			201,353			191,415			646,941			612,713
Service contracts		133,226			110,714			101,002			137,385			118,754			86,948			79,582			344,942			285,284
Other		1,375			8,962			11,348			11,059			11,176			13,933			10,422			21,685			35,531
Total International		347,923			334,083			331,562			369,625			349,875			302,234			281,419			1,013,568			933,528
Total	$	902,651		$	900,046		$	894,472		$	1,039,693		$	974,828		$	940,129		$	918,531		$	2,697,169		$	2,833,488
Preneed (face sales)	$	121,021		$	120,859		$	104,424		$	100,031		$	107,341		$	102,360		$	86,058		$	346,304		$	295,759
Foreign currency translation (FX) impact (1):
Gross written premiums:
Including FX impact		-7.40	%		-4.26	%		-2.62	%		5.84	%		9.99	%		13.57	%		15.67	%		-4.81	%		12.97	%
FX impact		0.96	%		2.34	%		3.43	%		3.09	%		1.21	%		0.85	%		0.48	%		2.22	%		0.86	%
Excluding FX impact		-8.36	%		-6.60	%		-6.05	%		2.75	%		8.78	%		12.72	%		15.19	%		-7.03	%		12.11	%
Net earned premiums:
Including FX impact		8.80	%		13.25	%		17.23	%		9.88	%		9.92	%		4.47	%		2.21	%		12.94	%		5.58	%
FX impact		0.56	%		1.65	%		2.42	%		2.40	%		1.15	%		0.87	%		0.67	%		1.51	%		0.90	%
Excluding FX impact		8.24	%		11.60	%		14.81	%		7.48	%		8.77	%		3.60	%		1.54	%		11.43	%		4.68	%
Net operating income (2):
Including FX impact		-45.45	%		7.10	%		7.91	%		-18.95	%		-10.38	%		-18.68	%		10.87	%		-10.17	%		-5.86	%
FX impact		-1.42	%		-4.64	%		1.99	%		-0.88	%		-1.49	%		-2.01	%		-1.33	%		-1.34	%		-1.60	%
Excluding FX impact		-44.03	%		11.74	%		5.92	%		-18.07	%		-8.89	%		-16.67	%		12.20	%		-8.83	%		-4.26	%
Combined ratios (a):
Domestic		104.7	%		99.4	%		96.5	%		101.9	%		100.9	%		100.8	%		100.9	%		100.2	%		100.9	%
International		105.6	%		111.4	%		102.3	%		106.1	%		102.3	%		109.7	%		102.1	%		106.4	%		104.7	%
Preneed yield (3)		6.04	%		6.28	%		6.13	%		6.30	%		6.50	%		6.27	%		6.29	%		6.11	%		6.29	%
Preneed average invested assets	$	3,919,388		$	3,937,722		$	3,963,127		$	3,986,933		$	3,832,047		$	3,650,784		$	3,600,420		$	3,940,415		$	3,717,137
Investment yield(3)		5.60	%		5.76	%		5.72	%		5.83	%		5.84	%		5.83	%		5.80	%		5.68	%		5.77	%
Investment income from real estate joint venture partnerships	$	—		$	1,210		$	—		$	44		$	187		$	1,045		$	14,448		$	1,210		$	15,680

(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) Total Solutions percentage growth from year-ago period due to conversion of income statement transactions at weighted average foreign currency exchange rates.

(2) Net operating income growth for the three months ended December 31, 2007 compared to the year-ago period excludes $40,481 of after-tax income related to a third-party legal settlement previously disclosed in the Financial Supplement as of December 31, 2007.

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

8

Assurant Specialty Property

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands)	September 30, 2008			June 30, 2008			March 31, 2008			December 31, 2007			September 30, 2007			June 30, 2007			March 31, 2007			September 30, 2008			September 30, 2007
Revenues:
Net earned premiums and other considerations	$	513,228		$	533,914		$	481,427		$	476,400		$	445,211		$	393,614		$	367,041		$	1,528,569		$	1,205,866
Net investment income		31,129			31,997			29,375			28,812			25,862			23,667			21,869			92,501			71,398
Fees and other income		12,501			11,996			13,593			13,943			12,063			12,654			12,596			38,090			37,313
		556,858			577,907			524,395			519,155			483,136			429,935			401,506			1,659,160			1,314,577
Benefits, losses and expenses:
Policyholder benefits		302,105			171,793			144,813			171,866			129,354			130,866			116,787			618,711			377,007
Selling, underwriting, general and administrative expenses		208,519			206,339			188,842			194,129			177,738			159,292			170,799			603,700			507,829
		510,624			378,132			333,655			365,995			307,092			290,158			287,586			1,222,411			884,836
Income before provision for income taxes		46,234			199,775			190,740			153,160			176,044			139,777			113,920			436,749			429,741
Provision for income taxes		15,292			68,733			65,996			53,243			61,362			49,570			39,486			150,021			150,418
Net operating income	$	30,942		$	131,042		$	124,744		$	99,917		$	114,682		$	90,207		$	74,434		$	286,728		$	279,323
Net earned premiums for selected product groupings:
Homeowners (Creditor Placed & Voluntary)	$	368,066		$	391,153		$	342,335		$	342,931		$	317,607		$	276,663		$	250,889		$	1,101,554		$	845,159
Manufactured Housing (Creditor Placed & Voluntary)		55,389			56,484			57,061			53,850			54,132			50,452			50,670			168,934			155,254
Other		89,773			86,277			82,031			79,619			73,472			66,499			65,482			258,081			205,453
Total	$	513,228		$	533,914		$	481,427		$	476,400		$	445,211		$	393,614		$	367,041		$	1,528,569		$	1,205,866
Gross written premiums for selected product groupings:
Homeowners (Creditor Placed & Voluntary)	$	492,069		$	529,444		$	419,501		$	462,730		$	420,184		$	380,099		$	319,053		$	1,441,014		$	1,119,336
Manufactured Housing (Creditor Placed & Voluntary)		80,909			79,451			70,131			79,193			77,885			77,042			67,785			230,491			222,712
Other		187,929			169,849			125,316			146,182			156,235			150,435			112,322			483,094			418,992
Total	$	760,907		$	778,744		$	614,948		$	688,105		$	654,304		$	607,576		$	499,160		$	2,154,599		$	1,761,040
Ratios:
Loss ratio (a)		58.9	%		32.2	%		30.1	%		36.1	%		29.1	%		33.2	%		31.8	%		40.5	%		31.3	%
Expense ratio (b)		39.7	%		37.8	%		38.1	%		39.6	%		38.9	%		39.2	%		45.0	%		38.5	%		40.8	%
Combined ratio (c)		97.1	%		69.3	%		67.4	%		74.6	%		67.2	%		71.4	%		75.8	%		78.0	%		71.2	%
Investment yield(1)		5.11	%		5.16	%		5.11	%		5.58	%		5.46	%		5.28	%		5.51	%		5.19	%		5.53	%
Investment income from real estatejoint venture partnerships	$	—		$	346		$	—		$	13		$	53		$	297		$	159		$	346		$	509

(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, general and administrative 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.

9

Assurant Specialty Property (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands)	September 30, 2008			June 30, 2008			March 31, 2008			December 31, 2007			September 30, 2007			June 30, 2007			March 31, 2007			September 30, 2008			September 30, 2007
Creditor-Placed Homeowners Insurance:
Loans tracked(in millions):
Prime		26.2			26.3			26.2			26.2			26.1			24.5			24.3			26.2			26.1
Sub-prime		4.1			4.2			4.4			4.6			5.0			5.3			5.4			4.1			5.0
		30.3			30.5			30.6			30.8			31.1			29.8			29.7			30.3			31.1
Penetration rate ranges:
Prime range		1% - 2	%		1% -2	%		1% - 2	%		1% - 2	%		1% - 2	%		1% - 2	%		1% - 2	%		1% - 2	%		1% - 2	%
Sub-prime range		6% - 15	%		6% - 15	%		6% - 15	%		6% - 15	%		5% - 11	%		3% - 8	%		3% - 8	%		6% - 15	%		5% - 11	%
Average insured value:	$	173		$	170		$	165		$	159		$	151		$	146		$	141		$	173		$	151

10

Assurant Health

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended														For the Nine Months Ended
($ in thousands)	September 30, 2008		June 30, 2008		March 31, 2008		December 31, 2007		September 30, 2007		June 30, 2007		March 31, 2007		September 30, 2008		September 30, 2007
Revenues:
Net earned premiums and other considerations	$	486,700	$	487,725	$	496,060	$	509,327	$	514,233	$	513,936	$	512,784	$	1,470,485	$	1,540,953
Net investment income		13,769		15,302		15,648		15,321		15,753		16,290		19,270		44,719		51,313
Fees and other income		10,100		9,637		9,406		9,762		10,688		10,445		9,688		29,143		30,821
		510,569		512,664		521,114		534,410		540,674		540,671		541,742		1,544,347		1,623,087
Benefits, losses and expenses:
Policyholder benefits		311,790		325,504		306,565		321,851		326,479		329,327		317,784		943,859		973,590
Selling, underwriting, general and administrative expenses		152,345		143,804		157,181		152,922		153,928		159,088		161,410		453,330		474,426
		464,135		469,308		463,746		474,773		480,407		488,415		479,194		1,397,189		1,448,016
Income before provision for income taxes		46,434		43,356		57,368		59,637		60,267		52,256		62,548		147,158		175,071
Provision for income taxes		16,230		15,635		20,105		21,621		20,902		18,418		22,024		51,970		61,344
Net operating income	$	30,204	$	27,721	$	37,263	$	38,016	$	39,365	$	33,838	$	40,524	$	95,188	$	113,727
Net earned premiums and other considerations:
Individual:
Individual medical	$	319,188	$	318,095	$	319,756	$	324,727	$	323,490	$	320,442	$	314,662	$	957,039	$	958,594
Short-term medical		27,335		24,583		23,539		24,441		26,336		23,499		22,561		75,457		72,396
Subtotal		346,523		342,678		343,295		349,168		349,826		343,941		337,223		1,032,496		1,030,990
Small employer group		140,177		145,047		152,765		160,159		164,407		169,995		175,561		437,989		509,963
Total	$	486,700	$	487,725	$	496,060	$	509,327	$	514,233	$	513,936	$	512,784	$	1,470,485	$	1,540,953

11

Assurant Health (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands)	September 30, 2008			June 30, 2008			March 31, 2008			December 31, 2007			September 30, 2007			June 30, 2007			March 31, 2007			September 30, 2008			September 30, 2007
Sales (annualized issued premiums):
Individual:
Individual medical	$	87,600		$	78,080		$	79,976		$	67,680		$	85,089		$	100,468		$	99,614		$	245,656		$	285,171
Short-term medical		35,969			34,990			32,972			30,219			35,285			33,606			31,939			103,931			100,830
Subtotal		123,569			113,070			112,948			97,899			120,374			134,074			131,553			349,587			386,001
Small employer group		27,189			25,864			26,161			27,345			27,414			28,307			29,520			79,214			85,241
Total	$	150,758		$	138,934		$	139,109		$	125,244		$	147,788		$	162,381		$	161,073		$	428,801		$	471,242
Membership by product line(in thousands):
Individual:
Individual medical		585			587			599			619			638			650			641			585			638
Short-term medical		101			101			87			87			101			99			85			101			101
Subtotal		686			688			686			706			739			749			726			686			739
Small employer group		136			142			152			165			171			181			191			136			171
Total		822			830			838			871			910			930			917			822			910
Ratios:
Loss ratio (a)		64.1	%		66.7	%		61.8	%		63.2	%		63.5	%		64.1	%		62.0	%		64.2	%		63.2	%
Expense ratio (b)		30.7	%		28.9	%		31.1	%		29.5	%		29.3	%		30.3	%		30.9	%		30.2	%		30.2	%
Combined ratio (c)		93.4	%		94.4	%		91.7	%		91.5	%		91.5	%		93.1	%		91.7	%		93.2	%		92.1	%
Investment yield(1)		5.67	%		5.84	%		6.12	%		5.79	%		5.93	%		5.84	%		5.70	%		5.89	%		5.81	%
Investment income from real estate joint venture partnerships	$	—		$	691		$	—		$	25		$	107		$	590		$	3,535		$	691		$	4,232

(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, general and administrative 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.

12

Assurant Employee Benefits

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended														For the Nine Months Ended
($ in thousands)	September 30, 2008		June 30, 2008		March 31, 2008		December 31, 2007		September 30, 2007		June 30, 2007		March 31, 2007		September 30, 2008		September 30, 2007
Revenues:
Net earned premiums and other considerations	$	277,093	$	273,248	$	280,437	$	291,575	$	284,029	$	272,462	$	296,673	$	830,778	$	853,164
Net investment income		35,278		38,919		38,369		37,614		38,046		39,408		51,887		112,566		129,341
Fees and other income		6,475		7,208		6,555		5,301		6,040		6,379		6,277		20,238		18,696
		318,846		319,375		325,361		334,490		328,115		318,249		354,837		963,582		1,001,201
Benefits, losses and expenses:
Policyholder benefits		185,951		193,642		199,401		200,673		194,957		183,333		211,607		578,994		589,897
Selling, underwriting, general and administrative expenses		99,726		97,354		100,901		108,847		101,978		102,090		98,953		297,981		303,021
		285,677		290,996		300,302		309,520		296,935		285,423		310,560		876,975		892,918
Income before provision for income taxes		33,169		28,379		25,059		24,970		31,180		32,826		44,277		86,607		108,283
Provision for income taxes		11,712		9,749		8,727		8,773		10,788		11,351		15,320		30,188		37,459
Net operating income	$	21,457	$	18,630	$	16,332	$	16,197	$	20,392	$	21,475	$	28,957	$	56,419	$	70,824
Net earned premiums and other considerations by:
Major product grouping:
Group dental	$	109,982	$	108,976	$	106,073	$	104,938	$	103,770	$	102,567	$	101,535	$	325,031	$	307,872
Group disability single premiums for closed blocks		—		—		5,500		14,326		12,283		—		22,847		5,500		35,130
All other group disability		115,749		113,327		116,300		118,858		114,904		115,539		118,189		345,376		348,632
Group life		51,362		50,945		52,564		53,453		53,072		54,356		54,102		154,871		161,530
Total	$	277,093	$	273,248	$	280,437	$	291,575	$	284,029	$	272,462	$	296,673	$	830,778	$	853,164

13

Assurant Employee Benefits (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands)	September 30, 2008			June 30, 2008			March 31, 2008			December 31, 2007			September 30, 2007			June 30, 2007			March 31, 2007			September 30, 2008			September 30, 2007
Sales:
Group dental	$	24,918		$	23,021		$	45,625		$	16,969		$	26,780		$	19,747		$	42,212		$	93,564		$	88,739
Group disability		13,972			10,404			18,909			10,984			12,314			14,121			20,394			43,285			46,829
Group life		6,936			5,775			9,836			6,069			6,210			7,051			11,875			22,547			25,136
Total	$	45,826		$	39,200		$	74,370		$	34,022		$	45,304		$	40,919		$	74,481		$	159,396		$	160,704
Ratios:
Loss ratio (a)		67.1	%		70.9	%		71.1	%		68.8	%		68.6	%		67.3	%		71.3	%		69.7	%		69.1	%
Expense ratio (b)		35.2	%		34.7	%		35.2	%		36.7	%		35.2	%		36.6	%		32.7	%		35.0	%		34.8	%
Investment yield(1)		5.98	%		6.25	%		6.29	%		6.16	%		6.19	%		6.21	%		6.09	%		6.19	%		6.17	%
Investment income from real estate joint venture partnerships	$	—		$	1,210		$	—		$	45		$	187		$	1,040		$	14,164		$	1,210		$	15,391

(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, general and administrative 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.

14

Assurant Corporate and Other

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands)	September 30, 2008			June 30, 2008			March 31, 2008			December 31, 2007			September 30, 2007			June 30, 2007			March 31, 2007			September 30, 2008			September 30, 2007
Revenues:
Net earned premiums and other considerations	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net investment income		6,599			6,568			7,652			7,180			8,757			10,153			11,853			20,819			30,763
Net realized (losses) gains on investments		(299,205	)		(34,574	)		(43,143	)		(51,628	)		(13,076	)		(3,086	)		5,570			(376,922	)		(10,592	)
Amortization of deferred gains on disposal of businesses		7,379			7,327			7,379			8,246			8,298			8,246			8,349			22,085			24,893
Fees and other income		212			2,771			63			157			119			143			327			3,046			589
		(285,015	)		(17,908	)		(28,049	)		(36,045	)		4,098			15,456			26,099			(330,972	)		45,653
Benefits, losses and expenses:
Policyholder benefits		12			1,096			—			3,969			—			—			—			1,108			—
Selling, underwriting, general and administrative expenses		19,448			35,281			16,193			33,230			28,060			19,294			16,119			70,922			63,473
Interest expense		15,190			15,287			15,288			15,297			15,288			15,296			15,297			45,765			45,881
		34,650			51,664			31,481			52,496			43,348			34,590			31,416			117,795			109,354
Loss before (benefit) provision for income taxes		(319,665	)		(69,572	)		(59,530	)		(88,541	)		(39,250	)		(19,134	)		(5,317	)		(448,767	)		(63,701	)
(Benefit) provision for income taxes		(105,246	)		(49,778	)		(20,464	)		(22,964	)		(14,625	)		(9,684	)		3,210			(175,488	)		(21,099	)
Net operating loss	$	(214,419	)	$	(19,794	)	$	(39,066	)	$	(65,577	)	$	(24,625	)	$	(9,450	)	$	(8,527	)	$	(273,279	)	$	(42,602	)
Real estate investment income	$	—		$	—		$	—		$	—		$	—		$	—		$	1,234		$	—		$	1,234
Corporate and Other Reconciliation
Assurant Corporate and Other Segment Net Operating Income	$	(214,419	)	$	(19,794	)	$	(39,066	)	$	(65,577	)	$	(24,625	)	$	(9,450	)	$	(8,527	)	$	(273,279	)	$	(42,602	)
Adjustments, net of tax:
Amortization of deferred gains on disposal of businesses		(4,796	)		(4,763	)		(4,796	)		(5,360	)		(5,394	)		(5,360	)		(5,427	)		(14,355	)		(16,181	)
Interest expense		9,874			9,937			9,937			9,943			9,937			9,942			9,943			29,748			29,822
Net realized losses (gains) on investments		194,483			22,473			28,043			33,558			8,499			2,006			(3,621	)		244,999			6,884
Gain on sale of inactive subsidiary		—			(26,630	)		—			—			—			—			—			(26,630	)		—
Corporate and other per Reconciliation of Net Operating
Income to Net Income (page 5)	$	(14,858	)	$	(18,777	)	$	(5,882	)	$	(27,436	)	$	(11,583	)	$	(2,862	)	$	(7,632	)	$	(39,517	)	$	(22,077	)

15

Assurant, Inc. and Subsidiaries

Investments

(Unaudited)

($ in thousands)	As of September 30, 2008				As of December 31, 2007
Investments by type
Fixed maturity securities: available for sale, at fair value	$	9,059,614	66.3	%	$	10,126,415	69.6	%
Equity securities: available for sale, at fair value
Preferred stocks		486,358	3.6	%		613,525	4.2	%
Common stocks		5,455	0.1	%		22,476	0.2	%
Commercial mortgage loans on real estate, at amortized cost		1,502,086	11.0	%		1,433,626	9.9	%
Policy loans		57,475	0.4	%		57,107	0.4	%
Short-term investments		620,434	4.5	%		410,878	2.8	%
Collateral held under securities lending		343,321	2.5	%		541,650	3.7	%
Other investments		533,974	3.9	%		541,474	3.7	%
Total investments		12,608,717	92.3	%		13,747,151	94.5	%
Cash and cash equivalents		1,053,679	7.7	%		804,964	5.5	%
Total investments and cash and cash equivalents	$	13,662,396	100.0	%	$	14,552,115	100.0	%
Fixed Maturity Securities by Credit Quality (Fair Value)
Aaa / Aa / A	$	6,008,185	66.3	%	$	6,917,249	68.3	%
Baa		2,409,011	26.6	%		2,570,640	25.4	%
Ba		519,037	5.7	%		492,822	4.9	%
B and lower		123,381	1.4	%		145,704	1.4	%
Total	$	9,059,614	100.0	%	$	10,126,415	100.0	%

16

Assurant, Inc. and Subsidiaries

Investments (continued)

(Unaudited)

	As of September 30, 2008									As of December 31, 2007
($ in thousands)	Book Value		Fair Value		% of Fair Value		Unrealized Gain (Loss)			Book Value		Fair Value		% of Fair Value		Unrealized Gain (Loss)
Fixed Maturity Securities by Issuer Type:
Governmental:
U.S. Government and government agencies	$	147,075	$	152,486	1.7	%	$	5,411		$	287,064	$	297,278	2.9	%	$	10,214
State, municipalities and political subdivisions		960,329		933,045	10.3	%		(27,284	)		630,196		646,549	6.4	%		16,353
Foreign governments		552,404		545,210	6.0	%		(7,194	)		680,097		704,246	7.0	%		24,149
Corporate (1):
Consumer Cyclical		987,003		907,932	10.0	%		(79,071	)		933,420		934,737	9.2	%		1,317
Consumer Non-Cyclical		351,325		332,690	3.7	%		(18,635	)		366,562		373,127	3.7	%		6,565
Energy		664,614		626,883	6.9	%		(37,731	)		684,996		715,105	7.1	%		30,109
Financials		2,019,099		1,769,587	19.5	%		(249,512	)		2,314,297		2,285,585	22.6	%		(28,712	)
Health Care		317,618		299,825	3.3	%		(17,793	)		381,497		383,799	3.8	%		2,302
Industrials		1,046,111		985,339	10.9	%		(60,772	)		1,005,049		1,017,314	10.0	%		12,265
Materials		279,152		259,901	2.9	%		(19,251	)		300,705		300,447	3.0	%		(258	)
Technology		150,164		143,333	1.6	%		(6,831	)		186,930		189,095	1.9	%		2,165
Telecommunications		388,652		361,232	4.0	%		(27,420	)		387,946		403,953	4.0	%		16,007
Utilities		814,885		762,023	8.4	%		(52,862	)		739,183		745,588	7.4	%		6,405
Other corporate		42,645		41,598	0.5	%		(1,047	)		51,866		51,294	0.5	%		(572	)
Asset-backed securities		23,797		22,383	0.2	%		(1,414	)		54,560		55,349	0.5	%		789
Commercial mortgage-backed securities		246,664		228,421	2.5	%		(18,243	)		191,007		190,743	1.9	%		(264	)
Residential mortgage-backed securities:
Agency		637,781		643,990	7.1	%		6,209			688,160		696,539	6.9	%		8,379
Alt-A		—		—	0.0	%		—			—		—	0.0	%		—
Subprime		28,531		28,155	0.3	%		(376	)		79,876		77,562	0.8	%		(2,314	)
Other		359		369	0.0	%		10			406		421	0.0	%		15
Collaterized debt obligations:
Credit backed		16,732		15,212	0.2	%		(1,520	)		62,538		57,684	0.6	%		(4,854	)
RMBS backed		—		—	0.0	%		—			—		—	0.0	%		—
Total fixed maturity securities	$	9,674,940	$	9,059,614	100.0	%	$	(615,326	)	$	10,026,355	$	10,126,415	100.0	%	$	100,060

(1) Industry classifications are based on a combination of published index classifications as well as Assurant's view of underlying creditor risk. These resulting classifications are then mapped to the Global Industry Classification Standard (GICS^®).

17

Assurant, Inc. and Subsidiaries

Investment Results by Asset Category and Annualized Yields

(Unaudited)

	For the Three Months Ended September 30, 2008								For the Three Months Ended September 30, 2007								For the Nine Months Ended September 30, 2008								For the Nine Months Ended September 30, 2007
($ in thousands)	Yield		Investment Income			Net realized gain (loss)			Yield		Investment Income			Net realized gain (loss)			Yield		Investment Income			Net realized gain (loss)			Yield		Investment Income			Net realized gain (loss)
Fixed maturity securities: available for sale, at fair value	5.99	%	$	146,440		$	(128,088	)	6.00	%	$	143,810		$	(13,664	)	6.01	%	$	442,148		$	(187,663	)	5.94	%	$	415,481		$	(15,230	)
Equity securities: available for sale, at fair value	7.13	%		12,439			(160,091	)	6.47	%		11,927			(4,669	)	6.93	%		37,464			(176,859	)	6.49	%		35,965			(6,094	)
Commercial mortgage loans on real estate, at amortized cost	6.30	%		23,550			—		6.79	%		23,457			—		6.44	%		71,174			952		6.78	%		67,590			—
Policy loans	7.11	%		1,011			—		5.22	%		755			—		6.55	%		2,799			—		6.53	%		2,850			—
Cash and short-term investments	2.70	%		10,470			(6	)	4.79	%		14,434			93		3.08	%		34,629			(3	)	4.73	%		43,448			120
Other investments*	3.41	%		4,817			(11,020	)	4.35	%		5,950			5,164		5.42	%		22,414			(13,349	)	13.14	%		54,813			10,612
Total				198,727		$	(299,205	)				200,333		$	(13,076	)				610,628		$	(376,922	)				620,147		$	(10,592	)
Investment expenses				(6,413	)							(6,284	)							(19,329	)							(18,900	)
Net investment income			$	192,314							$	194,049							$	591,299							$	601,247
Gross realized gains						$	15,645							$	8,847							$	55,110							$	30,009
Gross realized losses							(85,702	)							(15,224	)							(131,902	)							(33,902	)
Other-than-temporary impairments on available for sale securities							(229,148	)							(6,699	)							(300,130	)							(6,699	)
Net realized (losses) gains						$	(299,205	)						$	(13,076	)						$	(376,922	)						$	(10,592	)

* Consists primarily of investments in joint venture partnerships, invested assets associated with a modified coinsurance agreement, and invested assets associated with the Assurant Investment Plan.

18

Assurant, Inc. and Subsidiaries

Summary of Net Operating Income Disclosed Items - (1)

Income / (Expense) Items

(unaudited)

($ in millions, after-tax)		For the Three Months Ended
		September 30, 2008						June 30, 2008						March 31, 2008						December 31, 2007						September 30, 2007						June 30, 2007						March 31, 2007
		$			Diluted EPS			$			Diluted EPS			$			Diluted EPS			$			Diluted EPS			$			Diluted EPS			$			Diluted EPS			$			Diluted EPS
Assurant Solutions:
Fees from sale of US pre-need independent franchise	(a)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	3.5		$	0.03		$	—		$	—
Loss from repriced/discontinued international product	(b)(c)	$	—		$	—		$	(6.9	)	$	(0.06	)	$	—		$	—		$	—		$	—		$	(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	(c)(a)	$	(7.7	)	$	(0.06	)	$	—		$	—		$	11.7		$	0.10		$	(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		$	—		$	—
Catastrophe losses, net of reinsurance (2)	(b)	$	(86.2	)	$	(0.73	)	$	(11.5	)	$	(0.10	)	$	—		$	—		$	(22.2	)	$	(0.19	)	$	—		$	—		$	—		$	—		$	—		$	—
Client related settlements	(c)	$	—		$	—		$	—		$	—		$	4.6		$	0.04		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Reinsurance reinstatement premiums	(e)	$	(8.6	)	$	(0.07	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Assurant Health:
Legal related settlements	(c)	$	—		$	—		$	—		$	—		$	—		$	—		$	2.5		$	0.02		$	—		$	—		$	—		$	—		$	—		$	—
					$	—
Assurant Employee Benefits:
Change in administration of state specific contract provisions	(b)	$	—		$	—		$	—		$	—		$	—		$	—		$	(2.1	)	$	(0.02	)	$	—		$	—		$	—		$	—		$	—		$	—
Assurant Corporate and Other:
Expenses related to SEC investigation (3)	(c)	$	—		$	—		$	(3.0	)	$	(0.03	)	$	(1.6	)	$	(0.01	)	$	(4.3	)	$	(0.04	)	$	(3.2	)	$	(0.03	)	$	—		$	—		$	—		$	—
Change in certain tax liabilities/receivables	(d)	$	(4.0	)	$	(0.03	)	$	—		$	—		$	—		$	—		$	(6.4	)	$	(0.05	)	$	(0.6	)	$	(0.01	)	$	2.9		$	0.02		$	(5.8	)	$	(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

(e) Net earned premiums

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

(2) Historically, disclosed catastrophe losses include individual Insurance Services Office (ISO) events with losses greater than $5 million. Catastrophe losses in the three months ended September 30, 2008 and September 30, 2007 include paid losses and case reserves on all ISO events, but do not include IBNR reserves.

(3) Assurant incurred $2.1 million after-tax of expenses related to the SEC investigation during the three months ended September 30, 2008; however, Assurant received $2.1 million after-tax of expense reimbursements from its Director & Officer Insurance carriers during the three months ended September 30, 2008.

19

Exhibit I

Assurant, Inc. and Subsidiaries

Top 30 Issuer Exposures

(unaudited)

($ in thousands)	As of September 30, 2008
	Fixed Maturity Securities							Preferred Stocks
	Fair Value		Book Value		Unrealized Gain/Loss			Fair Value		Book Value		Unrealized Gain/Loss
Issuer
General Electric	$	110,285	$	128,008	$	(17,723	)	$	9,765	$	10,100	$	(335	)
HSBC Holdings PLC		70,630		77,418		(6,788	)		27,172		33,405		(6,233	)
Bank of America Corporation		63,506		69,918		(6,412	)		26,444		35,249		(8,805	)
AT&T Inc.		83,781		86,182		(2,401	)		4,135		4,460		(325	)
JPMorgan Chase & Company		58,348		66,732		(8,384	)		16,784		19,040		(2,256	)
Wells Fargo & Company		54,569		58,532		(3,963	)		13,691		14,852		(1,161	)
Canadian Imperial Bank		66,165		67,100		(935	)		—		—		—
Citigroup Inc.		44,905		59,941		(15,036	)		20,563		31,326		(10,763	)
IBM Corporation		64,207		68,080		(3,873	)		558		617		(59	)
Midamerican Energy Holdings		58,411		63,935		(5,524	)		5,251		5,920		(669	)
US Bancorp		25,625		35,358		(9,733	)		34,212		38,808		(4,596	)
Verizon Communications Inc.		57,295		64,339		(7,044	)		2,261		2,758		(497	)
Comcast Corporation		48,944		54,791		(5,847	)		8,959		11,889		(2,930	)
Prudential Financial Inc.		51,571		55,729		(4,158	)		526		807		(281	)
Wal-Mart Stores Inc.		51,249		54,355		(3,106	)		—		—		—
Deere & Company		49,101		49,301		(200	)		—		—		—
FMR LLC		48,369		55,109		(6,740	)		—		—		—
Goldman Sachs Group Inc.		38,476		52,286		(13,810	)		9,561		13,311		(3,750	)
Manulife Financial Corporation		35,109		37,155		(2,046	)		12,082		12,640		(558	)
Duke Energy Corp		46,688		50,490		(3,802	)		—		—		—
Burlington Northern Santa Fe		44,930		46,656		(1,726	)		—		—		—
News Corporation		43,826		49,087		(5,261	)		—		—		—
ConocoPhillips		43,757		43,712		45			—		—		—
Wyeth		42,847		44,843		(1,996	)		—		—		—
Target Corporation		41,162		42,538		(1,376	)		—		—		—
Allstate Corporation		40,248		45,871		(5,623	)		—		—		—
Southern Company		18,654		20,535		(1,881	)		20,844		23,722		(2,878	)
Procter & Gamble Company		38,001		38,205		(204	)		—		—		—
FPL Group Inc.		34,656		36,202		(1,546	)		3,058		3,670		(612	)
Credit Suisse Group AG		29,466		32,861		(3,395	)		8,243		10,147		(1,904	)
	$	1,504,781	$	1,655,269	$	(150,488	)	$	224,109	$	272,721	$	(48,612	)

20

Exhibit II

Assurant, Inc. and Subsidiaries

Commercial Mortgage Loans Summary

(unaudited)

($ in thousands)	September 30, 2008
	Book Value		% of Total
Summary of Commercial Mortgage Loans
Geographic Region
Pacific	$	508,577	33.8	%
Middle Atlantic		274,339	18.3	%
New England		178,968	11.9	%
South Atlantic		164,972	11.0	%
Mountain		164,498	11.0	%
West South Central		87,487	5.8	%
West North Central		46,852	3.1	%
East South Central		28,749	1.9	%
Canada		27,467	1.8	%
East North Central		20,830	1.4	%
Total	$	1,502,739	100.0	%
Property Type
Retail	$	511,453	34.0	%
Office		493,266	32.8	%
Industrial		365,718	24.4	%
Other		70,195	4.7	%
Apartments		62,107	4.1	%
Subtotal	$	1,502,739	100.0	%
Allowance for losses		—	0.0	%
Unamortized fees and costs		—	0.0	%
Total	$	1,502,739	100.0	%
Loan Size
Under $3 million	$	589,352	39.2	%
$3 million but less than $6 million		502,015	33.4	%
$6 million but less than $9 million		258,100	17.2	%
$9 million but less than $12 million		39,378	2.6	%
$12 million and over		113,894	7.6	%
Total	$	1,502,739	100.0	%

Commercial Mortgage Loan Information by Vintage

(loan amounts in thousands)

As of September 30, 2008

Loan year	Book value		Delinquent loan balance		Number of loans	Number of delinquent loans	Average balance per loan		Average loan-to-value (1)
2004 and prior	$	660,345	$	—	311	—	$	2,118	31	%
2005		257,963		—	72	—		3,583	50	%
2006		182,231		—	64	—		2,847	45	%
2007		272,640		—	90	—		3,029	54	%
2008		129,559		—	35	—		3,702	59	%
Total	$	1,502,739	$	—	572	—	$	2,625	40	%

¹⁾ Based upon property appraisals as of June 30, 2008.

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