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

Exhibit 99.2

Assurant, Inc. (AIZ)

Financial Supplement as of September 30, 2009

ASSURANT, INC.

FINANCIAL SUPPLEMENT

(UNAUDITED)

AS OF SEPTEMBER 30, 2009

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 AND SELECTED DATA	6
CONDENSED SEGMENT STATEMENTS OF OPERATIONS AND SELECTED DATA	8
INVESTMENTS	17
INVESTMENT RESULTS BY ASSET CATEGORY & ANNUALIZED YIELDS	19
SUMMARY OF NET OPERATING INCOME DISCLOSED ITEMS	20
RATINGS SUMMARY	21
EXHIBIT I - TOP 30 CORPORATE ISSUER EXPOSURES	22
EXHIBIT II - COMMERCIAL MORTGAGE WHOLE LOANS SUMMARY	23

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 15,000 employees worldwide and is headquartered in New York’s financial district.www.assurant.com.

Safe Harbor Statement:

Some of the statements included in this financial supplement and its exhibits, particularly those anticipating future financial performance, business prospects, growth and operating strategies and similar matters, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. 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 financial supplement 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) deterioration in the Company’s market capitalization compared to its book value that could impair the Company’s goodwill; (iv) negative impact on our business and negative publicity 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); (v) current or new laws and regulations that could increase our costs or limit our growth; (vi) general global economic, financial market and political conditions (including difficult conditions in financial, capital and credit markets, the global economic slowdown, fluctuations in interest rates, mortgage rates, monetary policies, unemployment and inflationary pressure); (vii) inadequacy of reserves established for future claims losses; (viii) failure to predict or manage benefits, claims and other costs; (ix) losses due to natural and man-made catastrophes; (x) increases or decreases in tax valuation

allowances; (xi) fluctuations in exchange rates and other risks related to our international operations; (xii) unavailability, inadequacy and unaffordable pricing of reinsurance coverage; (xiii) diminished value of invested assets in our investment portfolio (due to, among other things, the recent volatility in financial markets, the global economic slowdown, credit and liquidity risk, other than temporary impairments, environmental liability exposure and inability to target an appropriate overall risk level); (xiv) inability of reinsurers to meet their obligations; (xv) insolvency of third parties to whom we have sold or may sell businesses through reinsurance or modified co-insurance; (xvi) credit risk of some of our agents in Assurant Specialty Property and Assurant Solutions; (xvii) a further decline in the manufactured housing industry; (xviii) a decline in our credit or financial strength ratings (including the risk of ratings downgrades in the insurance industry); (xix) failure to effectively maintain and modernize our information systems; (xx) failure to protect client information and privacy; (xxi) failure to find and integrate suitable acquisitions and new insurance ventures; (xxii) inability of our subsidiaries to pay sufficient dividends; (xxiii) failure to

provide for succession of senior management and key executives; and (xxiv) significant competitive pressures in our businesses and cyclicality of the insurance industry.

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 2008 Annual Report on Form 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. Please refer to page 5 for a reconciliation net operating income to net income.

(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 ended September 30, 2009 and 2008 was 12.5% and (11.2)%, respectively, and for the nine months ended September 30, 2009 and 2008 was 13.0% and 9.0%, respectively. Segment ROEs are measured consistently with GAAP. Please refer to page 6 for the reconciliation of annualized operating ROE to annualized GAAP return on average equity.

1

Assurant, Inc.

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)	2009			2008			2009			2008
Net operating income (1)	$	126,228		$	83,054		$	363,304		$	483,724
Net realized gains (losses) on investments		12,913			(194,483	)		(27,277	)		(244,999	)
Tax benefit realized from the sale of an inactive subsidiary		—			—			—			26,630
Change in tax valuation allowance		7,043			—			(936	)		—
Legal settlement and related expenses		(1,454	)		—			83,542			—
Net income (loss)	$	144,730		$	(111,429	)	$	418,633		$	265,355
Total revenues	$	2,156,873		$	1,954,535		$	6,518,359		$	6,380,620
PER SHARE AND SHARE DATA(2):
Basic earnings per common share
Net operating income	$	1.07		$	0.70		$	3.07		$	4.09
Net income (loss) (3)	$	1.22		$	(0.94	)	$	3.54		$	2.25
Weighted average common shares outstanding - basic		118,184,367			117,985,882			118,187,358			118,132,393
Diluted earnings per common share
Net operating income	$	1.07		$	0.70		$	3.07		$	4.06
Net income (loss) (3)	$	1.22		$	(0.94	)	$	3.54		$	2.22
Weighted average common shares outstanding - diluted		118,291,841			118,859,760			118,261,464			119,275,251

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

(2) Weighted average shares outstanding and earnings per share amounts have been prepared in accordance with the new earnings per share guidance on participating securities and the two class method, which is now within the Financial Accounting Standards Board’s (“FASB’s”) Accounting Standards Codification (“ASC”) Topic 260,Earnings PerShare. Prior period amounts have been adjusted to reflect this new guidance. For further information, please see our previously filed second quarter 2009 Form 10-Q and our upcoming third quarter 2009 Form 10-Q.

(3) 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.

Summary Financial Highlights (continued)

(Unaudited)

($ in thousands, except shares and per share amounts)	As of September 30, 2009			As of June 30, 2009			As of March 31, 2009			As of December 31, 2008
Total assets	$	25,665,578		$	24,822,474		$	23,820,644		$	24,514,586
Total stockholders’ equity	$	4,903,449		$	4,364,577		$	3,670,322		$	3,709,505
Total stockholders’ equity (excluding AOCI)	$	4,781,088		$	4,676,177		$	4,452,650		$	4,380,451
Basic book value per share (1)	$	41.71		$	36.83		$	30.99		$	31.53
Basic book value per share (excluding AOCI) (1)	$	40.66		$	39.46		$	37.60		$	37.24
Shares outstanding for basic book value per share calculation (1)		117,572,997			118,494,717			118,432,367			117,640,936
Diluted book value per share (1)	$	41.61		$	36.76		$	30.98		$	31.47
Diluted book value per share (excluding AOCI) (1)	$	40.57		$	39.38		$	37.58		$	37.16
Shares outstanding for diluted book value per share calculation (1)		117,854,377			118,736,239			118,477,818			117,870,037
Debt to total capital ratio (excluding AOCI)		17.0	%		17.3	%		18.0	%		18.3	%

(1) Shares outstanding for book value per share calculations and book value per share amounts have been prepared in accordance with the new earnings per share guidance on participating securities and the two class method, which is now within ASC Topic 260. Prior period amounts have been adjusted to reflect this new guidance. For further information, please see our previously filed second quarter 2009 Form 10-Q and our upcoming third quarter 2009 Form 10-Q.

3

Assurant, Inc.

Segmented Condensed Balance Sheets

(Unaudited)

	At September 30, 2009
	Solutions		Specialty Property		Health		Employee Benefits		Corporate & Other(1)			Consolidated
	($ in thousands)
Assets
Investments and cash and cash equivalents	$	7,486,825	$	2,418,972	$	931,009	$	2,289,728	$	1,247,310		$	14,373,844
Reinsurance recoverables		623,753		311,085		7,167		25,310		3,116,366			4,083,681
Deferred acquisition costs		2,313,612		205,450		9,536		27,164		—			2,555,762
Goodwill		—		—		—		—		1,009,089			1,009,089
Assets held in separate accounts		216,948		—		—		—		1,723,335			1,940,283
Other assets		562,899		329,066		111,373		122,758		576,823			1,702,919
Total assets	$	11,204,037	$	3,264,573	$	1,059,085	$	2,464,960	$	7,672,923		$	25,665,578
Liabilities
Policyholder benefits and claims payable	$	4,743,069	$	350,263	$	478,710	$	1,714,788	$	3,323,441		$	10,610,271
Unearned premiums		3,738,629		1,236,106		126,946		11,309		41,695			5,154,685
Debt		—		—		—		—		972,032			972,032
Mandatorily redeemable preferred stock		—		—		—		—		8,160			8,160
Liabilities related to separate accounts		216,948				—		—		1,723,335			1,940,283
Accounts payable and other liabilities		781,778		364,215		109,882		203,939		616,884			2,076,698
Total liabilities		9,480,424		1,950,584		715,538		1,930,036		6,685,547			20,762,129
Stockholders’ equity
Equity, excluding accumulated other comprehensive income		1,723,613		1,313,989		343,547		534,924		865,015			4,781,088
Accumulated other comprehensive income		—		—		—		—		122,361			122,361
Total stockholders’ equity		1,723,613		1,313,989		343,547		534,924		987,376			4,903,449
Total liabilities and stockholders’ equity	$	11,204,037	$	3,264,573	$	1,059,085	$	2,464,960	$	7,672,923		$	25,665,578
	At December 31, 2008
	Solutions		Specialty Property		Health		Employee Benefits		Corporate & Other(1)			Consolidated
	($ in thousands)
Assets
Investments and cash and cash equivalents	$	7,457,948	$	2,434,697	$	899,271	$	2,376,324	$	(60,764	)	$	13,107,476
Reinsurance recoverables		625,127		369,328		7,333		21,414		2,986,968			4,010,170
Deferred acquisition costs		2,407,675		201,817		16,623		24,557		—			2,650,672
Goodwill		—		—		—		—		1,001,899			1,001,899
Assets held in separate accounts		208,352		—		—		—		1,570,457			1,778,809
Other assets		452,076		329,288		117,534		136,770		929,892			1,965,560
Total assets	$	11,151,178	$	3,335,130	$	1,040,761	$	2,559,065	$	6,428,452		$	24,514,586
Liabilities
Policyholder benefits and claims payable	$	4,588,939	$	414,832	$	423,100	$	1,775,990	$	3,195,515		$	10,398,376
Unearned premiums		3,985,167		1,243,043		124,759		13,168		41,722			5,407,859
Debt		—		—		—		—		971,957			971,957
Mandatorily redeemable preferred stock		—		—		—		—		11,160			11,160
Liabilities related to separate accounts		208,352		—		—		—		1,570,457			1,778,809
Accounts payable and other liabilities		828,654		400,652		155,427		266,356		585,831			2,236,920
Total liabilities		9,611,112		2,058,527		703,286		2,055,514		6,376,642			20,805,081
Stockholders’ equity
Equity, excluding accumulated other comprehensive income		1,540,066		1,276,603		337,475		503,551		722,756			4,380,451
Accumulated other comprehensive loss		—		—		—		—		(670,946	)		(670,946	)
Total stockholders’ equity		1,540,066		1,276,603		337,475		503,551		51,810			3,709,505
Total liabilities and stockholders’ equity	$	11,151,178	$	3,335,130	$	1,040,761	$	2,559,065	$	6,428,452		$	24,514,586

(1) Corporate & Other includes all accumulated other comprehensive income/losses and goodwill as well as reinsurance recoverables and separate accounts related to the sale of businesses by reinsurance.

4

Assurant, Inc.

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, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			June 30, 2008			March 31, 2008			September 30, 2009			September 30,   2008
Assurant Solutions	$	31,644		$	27,894		$	30,311		$	11,884		$	20,387		$	32,355		$	47,557		$	89,849		$	100,299
Assurant Specialty Property		103,157			91,228			104,668			118,475			30,942			131,042			124,744			299,053			286,728
Assurant Health		(4,847	)		(10,330	)		14,672			25,066			30,204			27,721			37,263			(505	)		95,188
Assurant Employee Benefits		11,450			12,128			7,022			14,138			21,457			18,630			16,332			30,600			56,419
Corporate and other		(9,743	)		(16,157	)		(13,442	)		(10,735	)		(14,858	)		(18,777	)		(5,882	)		(39,342	)		(39,517	)
Amortization of deferred gains on disposal of businesses		4,421			4,388			4,421			4,763			4,796			4,763			4,796		��	13,230			14,355
Interest expense		(9,854	)		(9,854	)		(9,873	)		(9,872	)		(9,874	)		(9,937	)		(9,937	)		(29,581	)		(29,748	)
Net operating income		126,228			99,297			137,779			153,719			83,054			185,797			214,873			363,304			483,724
Adjustments:
Net realized gains (losses) on investments		12,913			(3,992	)		(36,198	)		(33,642	)		(194,483	)		(22,473	)		(28,043	)		(27,277	)		(244,999	)
Tax benefit realized from the sale of an inactive subsidiary		—			—			—			62,364			—			26,630			—			—			26,630
Change in tax valuation allowance		7,043			13,021			(21,000	)		—			—			—			—			(936	)		—
Legal settlement and related expenses		(1,454	)		84,996			—			—			—			—			—			83,542			—
Net income (loss)	$	144,730		$	193,322		$	80,581		$	182,441		$	(111,429	)	$	189,954		$	186,830		$	418,633		$	265,355

5

Assurant, Inc.

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, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			June 30, 2008			March 31, 2008			September 30, 2009			September 30,   2008
Revenues:
Net earned premiums and other considerations	$	1,874,398		$	1,875,866		$	1,874,579		$	2,004,279		$	1,984,136		$	1,995,516		$	1,941,417		$	5,624,843		$	5,921,069
Net investment income		172,924			174,932			178,479			183,048			192,314			201,211			197,774			526,335			591,299
Net realized gains (losses) on investments		19,866			(6,142	)		(55,689	)		(51,757	)		(299,205	)		(34,574	)		(43,143	)		(41,965	)		(376,922	)
Amortization of deferred gains on disposal of businesses		6,802			6,750			6,802			7,327			7,379			7,327			7,379			20,354			22,085
Fees and other income		82,883			222,203			83,706			77,711			69,911			79,280			73,898			388,792			223,089
		2,156,873			2,273,609			2,087,877			2,220,608			1,954,535			2,248,760			2,177,325			6,518,359			6,380,620
Benefits, losses and expenses:
Policyholder benefits		941,145			989,402			960,342			988,432			1,095,048			998,208			937,459			2,890,889			3,030,715
Selling, underwriting, general and administrative expenses		991,502			987,529			954,479			1,025,532			1,007,817			985,851			938,650			2,933,510			2,932,318
Interest expense		15,160			15,160			15,189			15,188			15,190			15,287			15,288			45,509			45,765
		1,947,807			1,992,091			1,930,010			2,029,152			2,118,055			1,999,346			1,891,397			5,869,908			6,008,798
Income (loss) before provision (benefit) for income taxes		209,066			281,518			157,867			191,456			(163,520	)		249,414			285,928			648,451			371,822
Provision (benefit) for income taxes		64,336			88,196			77,286			9,015			(52,091	)		59,460			99,098			229,818			106,467
Net income (loss)	$	144,730		$	193,322		$	80,581		$	182,441		$	(111,429	)	$	189,954		$	186,830		$	418,633		$	265,355
Diluted per share data:
Net operating income per diluted share (1)	$	1.07		$	0.84		$	1.17		$	1.30		$	0.70		$	1.55		$	1.80		$	3.07		$	4.06
Book value per diluted share (excluding AOCI) (1)	$	40.57		$	39.38		$	37.58		$	37.16		$	35.56		$	36.64		$	35.28		$	40.57		$	35.56
Computation of return on average equity measures:
Numerator:
Net operating income	$	126,228		$	99,297		$	137,779		$	153,719		$	83,054		$	185,797		$	214,873		$	363,304		$	483,724
Net income (loss)	$	144,730		$	193,322		$	80,581		$	182,441		$	(111,429	)	$	189,954		$	186,830		$	418,633		$	265,355
Denominator:
Average equity, excluding AOCI	$	4,728,633		$	4,564,413		$	4,416,551		$	4,294,030		$	4,296,429		$	4,298,980		$	4,123,852		$	4,580,770		$	4,121,301
Add: Average AOCI		(94,620	)		(546,964	)		(726,637	)		(573,372	)		(306,783	)		(71,632	)		24,207			(274,293	)		(210,944	)
Average equity, including AOCI	$	4,634,013		$	4,017,449		$	3,689,914		$	3,720,658		$	3,989,646		$	4,227,348		$	4,148,059		$	4,306,477		$	3,910,357
Annualized operating return on average equity		10.7	%		8.7	%		12.5	%		14.3	%		7.7	%		17.3	%		20.8	%		10.6	%		15.6	%
Annualized GAAP return on average equity		12.5	%		19.2	%		8.7	%		19.6	%		-11.2	%		18.0	%		18.0	%		13.0	%		9.0	%
Annualized operating return on average equity (excluding AOCI)(2)		10.7	%		8.7	%		12.5	%		14.3	%		7.7	%		17.3	%		20.8	%		10.6	%		15.6	%
Net realized gains (losses) on investments		1.1	%		-0.3	%		-3.3	%		-3.1	%		-18.1	%		-2.1	%		-2.7	%		-0.8	%		-7.9	%
Tax benefit realized from the sale of an inactive subsidiary		—			—			—			5.8	%		—			2.5	%		—			—			0.9	%
Change in tax valuation allowance		0.6	%		1.1	%		-1.9	%		—			—			—			—			—			—
Legal settlement and related expenses		-0.1	%		7.4	%		—			—			—			—			—			2.4	%		—
Change due to effect of including AOCI		0.2	%		2.3	%		1.4	%		2.6	%		-0.8	%		0.3	%		-0.1	%		0.8	%		0.4	%
Annualized GAAP return on average equity (2)		12.5	%		19.2	%		8.7	%		19.6	%		-11.2	%		18.0	%		18.0	%		13.0	%		9.0	%

(1) Net operating income per diluted share and book value per diluted share have been prepared in accordance with the new earnings per share guidance on participating securities and the two class method, which is now within ASC Topic 260. Prior period amounts have been adjusted to reflect this new guidance. For further information, please see our previously filed second quarter 2009 Form 10-Q and our upcoming third quarter 2009 Form 10-Q.

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

6

Assurant, Inc. (continued)

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, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			June 30, 2008			March 31, 2008			September 30, 2009			September 30,   2008
Share repurchases:
Shares repurchased		1,122,050			—			—			—			1,000,000			—			—			1,122,050			1,000,000
Average repurchase price per share	$	28.47		$	—		$	—		$	—		$	59.00		$	—		$	—		$	28.47		$	59.00
Repurchase price	$	31,948		$	—		$	—		$	—		$	59,000		$	—		$	—		$	31,948		$	59,000
AIZ Closing stock price (NYSE)	$	32.06		$	24.09		$	21.78		$	30.00		$	55.00		$	65.96		$	60.86		$	32.06		$	55.00
Investment yield(3)		5.08	%		5.23	%		5.32	%		5.29	%		5.44	%		5.56	%		5.61	%		5.19	%		5.55	%
Tax-adjusted yield(3) (4)		5.21	%		5.37	%		5.47	%		5.44	%		5.59	%		5.71	%		5.72	%		5.33	%		5.69	%
Investment (loss) income from real estate joint venture partnerships	$	(677	)	$	—		$	—		$	414		$	—		$	3,457		$	—		$	(677	)	$	3,457

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

(4) Tax-adjusted yield represents the yield on the portfolio after including the incremental benefit of investing in certain, tax-advantaged securities.

7

Assurant Solutions

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended															For the Nine Months Ended
($ in thousands)	September 30, 2009		June 30, 2009		March 31, 2009		December 31, 2008		September 30, 2008			June 30, 2008		March 31, 2008		September 30, 2009		September 30, 2008
Revenues:
Net earned premiums and other considerations	$	669,344	$	666,935	$	644,612	$	722,170	$	707,115		$	700,629	$	683,493	$	1,980,891	$	2,091,237
Net investment income		97,681		97,106		97,995		99,921		105,539			108,425		106,730		292,782		320,694
Fees and other income		50,093		51,960		52,031		49,936		40,623			47,668		44,281		154,084		132,572
		817,118		816,001		794,638		872,027		853,277			856,722		834,504		2,427,757		2,544,503
Benefits, losses and expenses:
Policyholder benefits		248,933		261,325		272,022		310,715		295,190			306,173		286,680		782,280		888,043
Selling, underwriting, general and administrative expenses		520,217		509,388		475,604		535,507		527,779			503,073		475,533		1,505,209		1,506,385
		769,150		770,713		747,626		846,222		822,969			809,246		762,213		2,287,489		2,394,428
Income before provision for income taxes		47,968		45,288		47,012		25,805		30,308			47,476		72,291		140,268		150,075
Provision for income taxes		16,324		17,394		16,701		13,921		9,921			15,121		24,734		50,419		49,776
Net operating income	$	31,644	$	27,894	$	30,311	$	11,884	$	20,387		$	32,355	$	47,557	$	89,849	$	100,299
Net earned premiums and other considerations:
Domestic:
Credit	$	59,562	$	62,740	$	65,941	$	66,166	$	70,270		$	69,808	$	73,253	$	188,243	$	213,331
Service contracts		348,258		354,783		346,508		375,433		334,386			335,552		319,515		1,049,549		989,453
Other		24,471		22,054		14,579		15,854		13,685			15,186		15,434		61,104		44,305
Total Domestic		432,291		439,577		427,028		457,453		418,341			420,546		408,202		1,298,896		1,247,089
International:
Credit		80,743		79,835		74,173		82,872		98,645			88,661		98,264		234,751		285,570
Service contracts		108,458		97,280		87,903		93,708		93,745			90,128		77,667		293,641		261,540
Other		4,025		4,107		3,660		3,813		(139	)		6,903		9,598		11,792		16,362
Total International		193,226		181,222		165,736		180,393		192,251			185,692		185,529		540,184		563,472
Preneed*:
Domestic and international		37,123		39,229		44,486		76,616		88,293			85,253		80,654		120,838		254,200
Domestic independent runoff		6,704		6,907		7,362		7,708		8,230			9,138		9,108		20,973		26,476
Total Preneed		43,827		46,136		51,848		84,324		96,523			94,391		89,762		141,811		280,676
Total	$	669,344	$	666,935	$	644,612	$	722,170	$	707,115		$	700,629	$	683,493	$	1,980,891	$	2,091,237
Fee income:
Domestic:
Debt protection	$	10,541	$	10,232	$	9,271	$	9,765	$	8,495		$	8,284	$	7,915	$	30,044	$	24,694
Service contracts		23,384		23,068		27,709		22,515		18,472			19,941		18,370		74,161		56,783
Other		4,443		5,593		3,947		6,614		6,873			7,439		5,735		13,983		20,047
Total Domestic		38,368		38,893		40,927		38,894		33,840			35,664		32,020		118,188		101,524
International		7,400		7,330		6,072		6,201		7,272			9,706		9,740		20,802		26,718
Preneed		4,325		5,737		5,032		4,841		(489	)		2,298		2,521		15,094		4,330
Total	$	50,093	$	51,960	$	52,031	$	49,936	$	40,623		$	47,668	$	44,281	$	154,084	$	132,572

* As of January 1, 2009, net earned premiums are recorded in accordance with universal life insurance guidance which is now within ASC Topic 944,Financial Services - Insurance. As a result, net earned premiums no longer include new preneed sales.

8

Assurant Solutions (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands)	September 30, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			June 30, 2008			March 31, 2008			September 30, 2009			September 30, 2008
Gross written premiums:
Domestic:
Credit	$	134,597		$	136,450		$	135,346		$	147,313		$	151,717		$	152,730		$	152,341		$	406,393		$	456,788
Service contracts		259,316			245,306			246,883			355,163			385,153			396,157			393,811			751,505			1,175,121
Other		14,210			43,985			15,074			19,701			17,858			17,076			16,758			73,269			51,692
Total Domestic		408,123			425,741			397,303			522,177			554,728			565,963			562,910			1,231,167			1,683,601
International:
Credit		221,581			197,605			171,379			180,516			213,322			214,407			219,212			590,565			646,941
Service contracts		118,256			98,494			107,070			132,710			133,226			110,714			101,002			323,820			344,942
Other		7,652			6,734			5,387			5,696			1,375			8,962			11,348			19,773			21,685
Total International		347,489			302,833			283,836			318,922			347,923			334,083			331,562			934,158			1,013,568
Total	$	755,612		$	728,574		$	681,139		$	841,099		$	902,651		$	900,046		$	894,472		$	2,165,325		$	2,697,169
Preneed (face sales)	$	137,301		$	126,263		$	103,124		$	99,009		$	121,021		$	120,859		$	104,424		$	366,688		$	346,304
Foreign currency translation (FX) impact (1):
Gross written premiums:
Including FX impact		-16.29	%		-19.05	%		-23.85	%		-19.10	%		-7.40	%		-4.26	%		-2.62	%		-19.72	%		-4.81	%
FX impact		-3.12	%		-5.03	%		-6.83	%		-5.53	%		0.96	%		2.34	%		3.43	%		-4.99	%		2.22	%
Excluding FX impact		-13.17	%		-14.02	%		-17.02	%		-13.57	%		-8.36	%		-6.60	%		-6.05	%		-14.73	%		-7.03	%
Net earned premiums:
Including FX impact		-5.34	%		-4.81	%		-5.69	%		6.38	%		8.80	%		13.25	%		17.23	%		-5.28	%		12.94	%
FX impact		-2.64	%		-3.76	%		-5.37	%		-4.42	%		0.56	%		1.65	%		2.42	%		-3.91	%		1.51	%
Excluding FX impact		-2.70	%		-1.05	%		-0.32	%		10.80	%		8.24	%		11.60	%		14.81	%		-1.37	%		11.43	%
Net operating income:
Including FX impact		55.21	%		-13.79	%		-36.26	%		-63.17	%		-45.45	%		7.10	%		7.91	%		-10.42	%		-10.17	%
FX impact		-8.34	%		3.32	%		-0.51	%		0.24	%		-1.42	%		-4.64	%		1.99	%		-0.87	%		-1.34	%
Excluding FX impact		63.55	%		-17.11	%		-35.75	%		-63.41	%		-44.03	%		11.74	%		5.92	%		-9.55	%		-8.83	%
Combined ratios (a):
Domestic		98.2	%		97.6	%		98.3	%		101.6	%		104.7	%		99.4	%		96.5	%		98.1	%		100.2	%
International		108.8	%		111.6	%		107.3	%		113.9	%		105.6	%		111.4	%		102.3	%		109.3	%		106.4	%
Preneed yield (2)		5.89	%		5.83	%		5.94	%		5.89	%		6.04	%		6.16	%		6.13	%		5.88	%		6.11	%
Preneed average invested assets	$	3,996,330		$	3,907,868		$	3,861,302		$	3,896,574		$	3,919,388		$	3,937,722		$	3,963,127		$	3,928,816		$	3,940,415
Investment yield(2)		5.36	%		5.41	%		5.45	%		5.34	%		5.60	%		5.76	%		5.72	%		5.39	%		5.68	%
Tax-adjusted yield (2) (3)		5.47	%		5.52	%		5.57	%		5.45	%		5.72	%		5.89	%		5.81	%		5.50	%		5.79	%
Investment (loss) income from real estate joint venture partnerships	$	(237	)	$	—		$	—		$	240		$	—		$	1,210		$	—		$	(237	)	$	1,210

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

(3) Tax-adjusted yield represents the yield on the portfolio after including the incremental benefit of investing in certain, tax-advantaged securities.

9

Assurant Specialty Property

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands)	September 30, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			June 30, 2008			March 31, 2008			September 30, 2009			September 30, 2008
Revenues:
Net earned premiums and other considerations	$	478,701		$	477,838		$	493,790		$	519,669		$	513,228		$	533,914		$	481,427		$	1,450,329		$	1,528,569
Net investment income		26,550			28,320			29,436			30,542			31,129			31,997			29,375			84,306			92,501
Fees and other income		15,100			13,642			13,324			11,910			12,501			11,996			13,593			42,066			38,090
		520,351			519,800			536,550			562,121			556,858			577,907			524,395			1,576,701			1,659,160
Benefits, losses and expenses:
Policyholder benefits		156,076			178,167			167,800			166,692			302,105			171,793			144,813			502,043			618,711
Selling, underwriting, general and administrative expenses		206,992			203,416			209,917			214,148			208,519			206,339			188,842			620,325			603,700
		363,068			381,583			377,717			380,840			510,624			378,132			333,655			1,122,368			1,222,411
Income before provision for income taxes		157,283			138,217			158,833			181,281			46,234			199,775			190,740			454,333			436,749
Provision for income taxes		54,126			46,989			54,165			62,806			15,292			68,733			65,996			155,280			150,021
Net operating income	$	103,157		$	91,228		$	104,668		$	118,475		$	30,942		$	131,042		$	124,744		$	299,053		$	286,728
Net earned premiums:
Homeowners (Creditor Placed & Voluntary)	$	333,068		$	336,338		$	348,447		$	369,458		$	368,066		$	391,153		$	342,335		$	1,017,853		$	1,101,554
Manufactured Housing (Creditor Placed & Voluntary)		54,347			55,128			55,876			56,275			55,389			56,483			57,061			165,351			168,933
Other		91,286			86,372			89,467			93,936			89,773			86,278			82,031			267,125			258,082
Total	$	478,701		$	477,838		$	493,790		$	519,669		$	513,228		$	533,914		$	481,427		$	1,450,329		$	1,528,569
Gross earned premiums:
Homeowners (Creditor Placed & Voluntary)	$	427,030		$	430,568		$	437,391		$	456,631		$	450,274		$	460,818		$	402,062		$	1,294,989		$	1,313,154
Manufactured Housing (Creditor Placed & Voluntary)		76,448			77,083			77,484			79,690			80,570			80,069			80,850			231,015			241,489
Other		150,604			147,449			151,429			156,843			152,899			146,880			140,793			449,482			440,572
Total	$	654,082		$	655,100		$	666,304		$	693,164		$	683,743		$	687,767		$	623,705		$	1,975,486		$	1,995,215
Gross written premiums:
Homeowners (Creditor Placed & Voluntary)	$	437,835		$	437,271		$	412,706		$	502,162		$	492,069		$	529,444		$	419,501		$	1,287,812		$	1,441,014
Manufactured Housing (Creditor Placed & Voluntary)		75,935			77,969			69,852			76,346			80,909			79,451			70,131			223,756			230,491
Other		167,968			154,864			131,701			147,675			187,929			169,849			125,316			454,533			483,094
Total	$	681,738		$	670,104		$	614,259		$	726,183		$	760,907		$	778,744		$	614,948		$	1,966,101		$	2,154,599
Reconciliation of gross earned premiums to net earned premiums:
Gross earned premiums	$	654,082		$	655,100		$	666,304		$	693,164		$	683,743		$	687,767		$	623,705		$	1,975,486		$	1,995,215
Ceded catastrophe reinsurance and reinstatements		(48,794	)		(44,688	)		(42,994	)		(36,793	)		(53,149	)		(34,015	)		(30,030	)		(136,476	)		(117,194	)
Ceded to clients including U.S. Government		(126,587	)		(132,574	)		(129,520	)		(136,702	)		(117,366	)		(119,838	)		(112,248	)		(388,681	)		(349,452	)
Net earned premiums	$	478,701		$	477,838		$	493,790		$	519,669		$	513,228		$	533,914		$	481,427		$	1,450,329		$	1,528,569

10

Assurant Specialty Property (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands)	September 30, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			June 30, 2008			March 31, 2008			September 30, 2009			September 30,   2008
Creditor-Placed Homeowners Insurance(1):
Loans tracked(in millions):
Prime		25.7			25.4			25.7			25.9			26.2			26.3			26.2			25.7			26.2
Sub-prime		3.8			3.6			3.8			4.0			4.1			4.2			4.4			3.8			4.1
		29.5			29.0			29.5			29.9			30.3			30.5			30.6			29.5			30.3
Average placement rates(2):
Prime		1.18	%		1.18	%		1.13	%		1.07	%		1.03	%		0.99	%		0.96	%		1.18	%		1.03	%
Sub-prime		9.51	%		9.39	%		9.14	%		9.19	%		8.92	%		8.70	%		8.33	%		9.51	%		8.92	%
Average insured value (AIV):
Creditor-placed	$	174		$	172		$	168		$	167		$	166		$	164		$	161		$	174		$	166
Real estate owned	$	226		$	228		$	228		$	228		$	223		$	217		$	206		$	226		$	223
Percent of creditor-placed premiums from real estate owned policies:
% of gross earned premiums		14	%		16	%		20	%		23	%		23	%		21	%		21	%		14	%		23	%
% of gross written premiums		12	%		12	%		20	%		19	%		23	%		22	%		21	%		12	%		23	%
Ratios:
Loss ratio (a)		32.6	%		37.3	%		34.0	%		32.1	%		58.9	%		32.2	%		30.1	%		34.6	%		40.5	%
Expense ratio (b)		41.9	%		41.4	%		41.4	%		40.3	%		39.7	%		37.8	%		38.1	%		41.6	%		38.5	%
Combined ratio (c)		73.5	%		77.6	%		74.5	%		71.6	%		97.1	%		69.3	%		67.4	%		75.2	%		78.0	%
Investment yield(3)		4.46	%		4.77	%		4.87	%		5.01	%		5.11	%		5.16	%		5.11	%		4.68	%		5.19	%
Tax-adjusted yield(3) (4)		4.76	%		5.07	%		5.18	%		5.32	%		5.43	%		5.47	%		5.32	%		4.99	%		5.47	%
Investment (loss) income from real estate joint venture partnerships	$	(68	)	$	—		$	—		$	39		$	—		$	346		$	—		$	(68	)		346

(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) Estimates based on client information and classification.

(2) Does not include real estate owned policies.

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

(4) Tax-adjusted yield represents the yield on the portfolio after including the incremental benefit of investing in certain, tax-advantaged securities.

11

Assurant Health

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																For the Nine Months Ended
($ in thousands)	September 30, 2009			June 30, 2009			March 31, 2009		December 31, 2008		September 30, 2008		June 30, 2008		March 31, 2008		September 30, 2009			September 30,   2008
Revenues:
Net earned premiums and other considerations	$	470,385		$	468,895		$	472,346	$	481,470	$	486,700	$	487,725	$	496,060	$	1,411,626		$	1,470,485
Net investment income		11,770			12,073			12,477		12,745		13,769		15,302		15,648		36,320			44,719
Fees and other income		10,140			9,847			9,914		9,774		10,100		9,637		9,406		29,901			29,143
		492,295			490,815			494,737		503,989		510,569		512,664		521,114		1,477,847			1,544,347
Benefits, losses and expenses:
Policyholder benefits		353,412			357,644			321,960		314,329		311,790		325,504		306,565		1,033,016			943,859
Selling, underwriting, general and administrative expenses		147,475			149,157			150,240		151,275		152,345		143,804		157,181		446,872			453,330
		500,887			506,801			472,200		465,604		464,135		469,308		463,746		1,479,888			1,397,189
Income before provision for income taxes		(8,592	)		(15,986	)		22,537		38,385		46,434		43,356		57,368		(2,041	)		147,158
Provision for income taxes		(3,745	)		(5,656	)		7,865		13,319		16,230		15,635		20,105		(1,536	)		51,970
Net operating income	$	(4,847	)	$	(10,330	)	$	14,672	$	25,066	$	30,204	$	27,721	$	37,263	$	(505	)	$	95,188
Net earned premiums and other considerations:
Individual:
Individual medical	$	317,820		$	316,093		$	317,070	$	319,704	$	319,188	$	318,095	$	319,756	$	950,983		$	957,039
Short-term medical		27,278			26,604			26,048		25,978		27,335		24,583		23,539		79,930			75,457
Subtotal		345,098			342,697			343,118		345,682		346,523		342,678		343,295		1,030,913			1,032,496
Small employer group		125,287			126,198			129,228		135,788		140,177		145,047		152,765		380,713			437,989
Total	$	470,385		$	468,895		$	472,346	$	481,470	$	486,700	$	487,725	$	496,060	$	1,411,626		$	1,470,485

12

Assurant Health (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands)	September 30, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			June 30, 2008			March 31, 2008			September 30, 2009			September 30,   2008
Sales (annualized issued premiums):
Individual:
Individual medical	$	91,434		$	84,707		$	88,769		$	84,603		$	87,600		$	78,080		$	79,976		$	264,910		$	245,656
Short-term medical		34,296			34,509			37,199			33,785			35,969			34,990			32,972			106,004			103,931
Subtotal		125,730			119,216			125,968			118,388			123,569			113,070			112,948			370,914			349,587
Small employer group		31,588			37,708			29,978			27,008			27,189			25,864			26,161			99,274			79,214
Total	$	157,318		$	156,924		$	155,946		$	145,396		$	150,758		$	138,934		$	139,109		$	470,188		$	428,801
Membership by product line(in thousands):
Individual:
Individual medical		568			570			572			578			585			587			599			568			585
Short-term medical		91			95			94			92			101			101			87			91			101
Subtotal		659			665			666			670			686			688			686			659			686
Small employer group		122			123			123			131			136			142			152			122			136
Total		781			788			789			801			822			830			838			781			822
Ratios:
Loss ratio (a)		75.1	%		76.3	%		68.2	%		65.3	%		64.1	%		66.7	%		61.8	%		73.2	%		64.2	%
Expense ratio (b)		30.7	%		31.2	%		31.2	%		30.8	%		30.7	%		28.9	%		31.1	%		31.0	%		30.2	%
Combined ratio (c)		104.2	%		105.9	%		97.9	%		94.8	%		93.4	%		94.4	%		91.7	%		102.7	%		93.2	%
Investment yield(1)		5.24	%		5.45	%		5.59	%		5.51	%		5.67	%		5.84	%		6.12	%		5.40	%		5.89	%
Tax-adjusted yield (1) (2)		5.47	%		5.70	%		5.84	%		5.78	%		5.95	%		6.13	%		6.32	%		5.64	%		6.14	%
Investment (loss) income from real estate joint venture partnerships	$	(135	)	$	—		$	—		$	51		$	—		$	691		$	—		$	(135	)	$	691

(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 (loss) income from real estate joint venture partnerships shown above.

(2) Tax-adjusted yield represents the yield on the portfolio after including the incremental benefit of investing in certain, tax-advantaged securities.

13

Assurant Employee Benefits

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended														For the Nine Months Ended
($ in thousands)	September 30, 2009		June 30, 2009		March 31, 2009		December 31, 2008		September 30, 2008		June 30, 2008		March 31, 2008		September 30, 2009		September 30, 2008
Revenues:
Net earned premiums and other considerations	$	255,968	$	262,198	$	263,831	$	280,970	$	277,093	$	273,248	$	280,437	$	781,997	$	830,778
Net investment income		33,039		33,466		34,157		34,461		35,278		38,919		38,369		100,662		112,566
Fees and other income		7,467		7,540		6,758		5,901		6,475		7,208		6,555		21,765		20,238
		296,474		303,204		304,746		321,332		318,846		319,375		325,361		904,424		963,582
Benefits, losses and expenses:
Policyholder benefits		182,632		186,770		198,728		196,690		185,951		193,642		199,401		568,130		578,994
Selling, underwriting, general and administrative expenses		96,529		97,993		95,287		102,835		99,726		97,354		100,901		289,809		297,981
		279,161		284,763		294,015		299,525		285,677		290,996		300,302		857,939		876,975
Income before provision for income taxes		17,313		18,441		10,731		21,807		33,169		28,379		25,059		46,485		86,607
Provision for income taxes		5,863		6,313		3,709		7,669		11,712		9,749		8,727		15,885		30,188
Net operating income	$	11,450	$	12,128	$	7,022	$	14,138	$	21,457	$	18,630	$	16,332	$	30,600	$	56,419
Net earned premiums and other considerations:
Group dental	$	105,507	$	105,306	$	105,565	$	110,084	$	109,982	$	108,976	$	106,073	$	316,378	$	325,031
Group disability single premiums for closed blocks		—		—		—		5,947		—		—		5,500		—		5,500
All other group disability		103,460		108,495		109,704		113,832		115,749		113,327		116,300		321,659		345,376
Group life		47,001		48,397		48,562		51,107		51,362		50,945		52,564		143,960		154,871
Total	$	255,968	$	262,198	$	263,831	$	280,970	$	277,093	$	273,248	$	280,437	$	781,997	$	830,778

14

Assurant Employee Benefits (continued)

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands)	September 30, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			June 30, 2008			March 31, 2008			September 30, 2009			September 30, 2008
Sales(1):
Group dental	$	21,202		$	16,904		$	31,573		$	16,487		$	24,918		$	23,021		$	45,625		$	69,679		$	93,564
Group disability		10,587			8,207			14,172			9,310			13,972			10,404			18,909			32,966			43,285
Group life		6,547			5,086			9,859			5,738			6,936			5,775			9,836			21,492			22,547
Total	$	38,336		$	30,197		$	55,604		$	31,535		$	45,826		$	39,200		$	74,370		$	124,137		$	159,396
Ratios:
Loss ratio (a)		71.3	%		71.2	%		75.3	%		70.0	%		67.1	%		70.9	%		71.1	%		72.7	%		69.7	%
Expense ratio (b)		36.6	%		36.3	%		35.2	%		35.8	%		35.2	%		34.7	%		35.2	%		36.1	%		35.0	%
Investment yield (2)		5.88	%		5.86	%		5.98	%		5.94	%		5.98	%		6.25	%		6.29	%		5.92	%		6.19	%
Tax-adjusted yield (2) (3)		5.94	%		5.93	%		6.05	%		6.01	%		6.06	%		6.33	%		6.35	%		5.98	%		6.26	%
Investment (loss) income from real estate joint venture partnerships	$	(237)		$	—		$	—		$	84		$	—		$	1,210		$	—		$	(237)		$	1,210

(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) Sales do not include any sales from assumed business, only direct.

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

(3) Tax-adjusted yield represents the yield on the portfolio after including the incremental benefit of investing in certain, tax-advantaged securities.

15

Assurant Corporate and Other

Condensed Statements of Operations

(Unaudited)

	For the Three Months Ended																					For the Nine Months Ended
($ in thousands)	September 30, 2009			June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			June 30, 2008			March 31, 2008			September 30, 2009			September 30, 2008
Revenues:
Net earned premiums and other considerations	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Net investment income		3,884			3,967			4,414			5,379			6,599			6,568			7,652			12,265			20,819
Net realized gains (losses) on investments		19,866			(6,142	)		(55,689	)		(51,757	)		(299,205	)		(34,574	)		(43,143	)		(41,965	)		(376,922	)
Amortization of deferred gains on disposal of businesses		6,802			6,750			6,802			7,327			7,379			7,327			7,379			20,354			22,085
Fees and other income		83			139,214			1,679			190			212			2,771			63			140,976			3,046
		30,635			143,789			(42,794	)		(38,861	)		(285,015	)		(17,908	)		(28,049	)		131,630			(330,972	)
Benefits, losses and expenses:
Policyholder benefits		92			5,496			(168	)		6			12			1,096			—			5,420			1,108
Selling, underwriting, general and administrative expenses		20,289			27,575			23,431			21,767			19,448			35,281			16,193			71,295			70,922
Interest expense		15,160			15,160			15,189			15,188			15,190			15,287			15,288			45,509			45,765
		35,541			48,231			38,452			36,961			34,650			51,664			31,481			122,224			117,795
(Loss) income before benefit for income taxes		(4,906	)		95,558			(81,246	)		(75,822	)		(319,665	)		(69,572	)		(59,530	)		9,406			(448,767	)
(Benefit) provision for income taxes		(8,232	)		23,156			(5,154	)		(88,700	)		(105,246	)		(49,778	)		(20,464	)		9,770			(175,488	)
Net (loss) income	$	3,326		$	72,402		$	(76,092	)	$	12,878		$	(214,419	)	$	(19,794	)	$	(39,066	)	$	(364	)	$	(273,279	)
Real estate investment income	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Corporate and Other Reconciliation
Assurant Corporate and Other Segment Net income (loss)	$	3,326		$	72,402		$	(76,092	)	$	12,878		$	(214,419	)	$	(19,794	)	$	(39,066	)	$	(364	)	$	(273,279	)
Adjustments, net of tax:
Amortization of deferred gains on disposal of businesses		(4,421	)		(4,388	)		(4,421	)		(4,763	)		(4,796	)		(4,763	)		(4,796	)		(13,230	)		(14,355	)
Interest expense		9,854			9,854			9,873			9,872			9,874			9,937			9,937			29,581			29,748
Net realized (gains) losses on investments		(12,913	)		3,992			36,198			33,642			194,483			22,473			28,043			27,277			244,999
Tax benefit realized from the sale of an inactive subsidiary		—			—			—			(62,364	)		—			(26,630	)		—			—			(26,630	)
Change in tax valuation allowance		(7,043	)		(13,021	)		21,000			—			—			—			—			936			—
Legal settlement and related expenses		1,454			(84,996	)		—			—			—			—			—			(83,542	)		—
Corporate and other line item result (1)	$	(9,743	)	$	(16,157	)	$	(13,442	)	$	(10,735	)	$	(14,858	)	$	(18,777	)	$	(5,882	)	$	(39,342	)	$	(39,517	)

(1) Reconciles to Corporate and other result per Reconciliation of Net Operating Income to Net Income on page 5.

16

Assurant, Inc.

Investments

(Unaudited)

($ in thousands)	As of September 30, 2009				As of December 31, 2008
Investments by type
Fixed maturity securities available for sale, at fair value	$	9,964,609	69.3	%	$	8,631,687	65.9	%
Equity securities available for sale, at fair value
Preferred stock		498,163	3.5	%		430,403	3.3	%
Common stock		4,701	0.0	%		4,049	0.0	%
Commercial mortgage whole loans on real estate, at amortized cost		1,449,108	10.1	%		1,506,694	11.5	%
Policy loans		56,401	0.4	%		58,096	0.4	%
Short-term investments		445,684	3.1	%		703,402	5.4	%
Collateral held under securities lending		186,467	1.3	%		234,027	1.8	%
Other investments		532,860	3.7	%		498,434	3.8	%
Total investments		13,137,993	91.4	%		12,066,792	92.1	%
Cash and cash equivalents		1,235,851	8.6	%		1,040,684	7.9	%
Total investments and cash and cash equivalents	$	14,373,844	100.0	%	$	13,107,476	100.0	%
Fixed Maturity Securities by Credit Quality (Fair Value)
Aaa / Aa / A	$	6,169,071	62.0	%	$	5,712,630	66.1	%
Baa		2,992,839	30.0	%		2,398,830	27.8	%
Ba		602,039	6.0	%		403,636	4.7	%
B and lower		200,660	2.0	%		116,591	1.4	%
Total	$	9,964,609	100.0	%	$	8,631,687	100.0	%

17

Assurant, Inc.

Investments (continued)

(Unaudited)

	As of September 30, 2009								As of December 31, 2008
($ 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:
Government:
U.S. Government and government agencies	$	112,074	$	119,314	1.2%	$	7,240		$	136,725	$	150,487	1.8%	$	13,762
State, municipalities and political subdivisions		858,652		920,366	9.2%		61,714			874,134		873,580	10.1%		(554	)
Foreign governments		573,817		598,472	6.0%		24,655			503,620		513,318	5.8%		9,698
Corporate (1):
Consumer Cyclical		999,678		1,038,663	10.4%		38,985			1,035,228		915,887	10.6%		(119,341	)
Consumer Non-Cyclical		312,919		335,432	3.4%		22,513			315,544		302,847	3.5%		(12,697	)
Energy		721,286		761,494	7.6%		40,208			670,000		604,332	7.0%		(65,668	)
Financials		2,004,574		1,988,836	20.0%		(15,738	)		1,869,195		1,672,525	19.4%		(196,670	)
Health Care		415,363		437,338	4.4%		21,975			306,016		290,410	3.4%		(15,606	)
Industrials		934,385		969,209	9.7%		34,824			949,846		851,921	9.9%		(97,925	)
Materials		269,549		271,778	2.7%		2,229			262,411		220,934	2.5%		(41,477	)
Technology		145,431		153,271	1.5%		7,840			126,410		120,626	1.4%		(5,784	)
Telecommunications		471,219		505,248	5.1%		34,029			388,872		376,896	4.4%		(11,976	)
Utilities		840,385		908,895	9.1%		68,510			793,188		767,630	8.9%		(25,558	)
Other corporate		358		367	0.0%		9			363		374	0.0%		11
Asset-backed securities		52,521		53,403	0.5%		882			62,184		59,906	0.7%		(2,278	)
Commercial mortgage-backed securities		226,875		216,967	2.2%		(9,908	)		241,458		198,103	2.3%		(43,355	)
Residential mortgage-backed securities (RMBS):
Agency		629,907		661,613	6.6%		31,706			654,370		683,521	7.9%		29,151
Alt-A		—		—	0.0%		—			—		—	0.0%		—
Subprime		20,051		16,937	0.2%		(3,114	)		22,911		22,390	0.3%		(521	)
Other		4,446		4,107	0.1%		(339	)		352		365	0.0%		13
Collaterized debt obligations:
Credit backed		4,595		2,899	0.1%		(1,696	)		5,817		5,635	0.1%		(182	)
RMBS backed		—		—	0.0%		—			—		—	0.0%		—
Total fixed maturity securities	$	9,598,085	$	9,964,609	100.0%	$	366,524		$	9,218,644	$	8,631,687	100.0%	$	(586,957	)

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

18

Assurant, Inc.

Investment Results by Asset Category and Annualized Yields

(Unaudited)

	For the Three Months Ended September 30, 2009								For the Three Months Ended September 30, 2008								For the Nine Months Ended September 30, 2009								For the Nine Months Ended September 30, 2008
($ 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	5.82	%	$	139,803		$	18,659		5.99	%	$	146,440		$	(128,088	)	5.91	%	$	418,343		$	(80	)	6.01	%	$	442,148		$	(187,663	)
Equity securities, available for sale	7.43	%		9,683			825		7.13	%		12,439			(160,091	)	7.30	%		29,069			(35,570	)	6.93	%		37,464			(176,859	)
Commercial mortgage whole loans on real estate	6.30	%		22,983			—		6.30	%		23,550			—		6.31	%		70,085			(5,306	)	6.44	%		71,174			952
Policy loans	6.09	%		860			—		7.11	%		1,011			—		5.71	%		2,451			—		6.55	%		2,799			—
Cash and short-term investments	0.86	%		3,247			94		2.70	%		10,470			(6	)	1.20	%		13,665			147		3.08	%		34,629			(3	)
Other investments*	2.41	%		3,192			288		3.41	%		4,817			(11,020	)	3.44	%		13,202			(1,156	)	5.42	%		22,414			(13,349	)
Total				179,768		$	19,866					198,727		$	(299,205	)				546,815		$	(41,965	)				610,628		$	(376,922	)
Investment expenses				(6,844	)							(6,413	)							(20,480	)							(19,329	)
Net investment income			$	172,924							$	192,314							$	526,335							$	591,299
Gross realized gains						$	25,458							$	15,645							$	40,804							$	55,110
Gross realized losses							(2,950	)							(85,702	)							(50,374	)							(131,902	)
Other-than-temporary impairments on available for sale securities							(2,642	)							(229,148	)							(32,395	)							(300,130	)
Net realized gains (losses) on investments						$	19,866							$	(299,205	)						$	(41,965	)						$	(376,922	)

* 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.

19

Assurant, Inc.

Summary of Net Operating Income Disclosed Items - (1)

Income / (Expense) Items

(unaudited)

		For the Three Months Ended
($ in millions, after-tax)		September 30, 2009						June 30, 2009						March 31, 2009						December 31, 2008						September 30, 2008						June 30, 2008						March 31, 2008
		$			Diluted EPS**			$			Diluted EPS**			$			Diluted EPS**			$			Diluted EPS**			$			Diluted EPS**			$			Diluted EPS**			$			Diluted EPS**
Assurant Solutions:
Exit cost for international business	(c)(d)	$	—		$	—		$	—		$	—		$	—		$	—		$	(9.7	)	$	(0.08	)	$	—		$	—		$	—		$	—		$	—		$	—
Loss from repriced/discontinued international product	(b)(c)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	(6.9	)	$	(0.06	)	$	—		$	—
Client bankruptcies	(c)	$	—		$	—		$	—		$	—		$	—		$	—		$	(8.1	)	$	(0.07	)	$	—		$	—		$	—		$	—		$	—		$	—
Client related settlements	(a)(c)	$	—		$	—		$	—		$	—		$	—		$	—		$	5.9		$	0.05		$	(7.7	)	$	(0.06	)	$	—		$	—		$	11.7		$	0.10
Restructuring costs	(c)	$	—		$	—		$	(2.4	)	$	(0.02	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Assurant Specialty Property:
Catastrophe losses, net of reinsurance (2)	(b)	$	—		$	—		$	—		$	—		$	—		$	—		$	(5.1	)	$	(0.04	)	$	(86.2	)	$	(0.73	)	$	(11.5	)	$	(0.10	)	$	—		$	—
Client related settlements	(c)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	4.6		$	0.04
Reinsurance reinstatement premiums	(e)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	(8.6	)	$	(0.07	)	$	—		$	—		$	—		$	—
Restructuring costs	(c)	$	—		$	—		$	(2.5	)	$	(0.02	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Subrogation reimbursement	(b)	$	5.9		$	0.05		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	���		$	—
Assurant Health:
Reserve strengthening	(b)	$	—		$	—		$	(9.0	)	$	(0.08	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Litigation reserve	(b)	$	(8.1	)	$	(0.07	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Assurant Employee Benefits:
Reserve adequacy study adjustment	(b)	$	—		$	—		$	—		$	—		$	—		$	—		$	3.5		$	0.03		$	—		$	—		$	—		$	—		$	—		$	—
Restructuring costs	(c)	$	—		$	—		$	(1.5	)	$	(0.01	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Assurant Corporate and Other:
Expenses related to SEC investigation (3)	(c)	$	—		$	—		$	—		$	—		$	—		$	—		$	1.7		$	0.01		$	—		$	—		$	(3.0	)	$	(0.03	)	$	(1.6	)	$	(0.01	)
Change in various tax liabilities/receivables	(d)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	(4.0	)	$	(0.03	)	$	—		$	—		$	—		$	—
Compensation expense	(c)	$	—		$	—		$	—		$	—		$	(4.6	)	$	(0.04	)	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

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

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

** Diluted earnings per share amounts have been prepared in accordance with the new earnings per share guidance on participating securities and the two class method, which is now within ASC Topic 260. Prior period amounts have been adjusted to reflect this new guidance. For further information, please see our previously filed second quarter 2009 Form 10-Q and our upcoming third quarter 2009 Form 10-Q.

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

(2) Assurant discloses catastrophe losses including Individual Services Office (“ISO”) and non-ISO events with losses greater than $5 million. Catastrophe losses in the three months ended June 30, 2008 include paid losses and case reserves on all ISO events, but do not include IBNR reserves.

(3) This item includes both SEC investigation-related expenses and reimbursements received related to SEC expenses covered under Director & Officer insurance.

20

Assurant, Inc.

Ratings Summary

(Unaudited)

	As of September 30, 2009
	A.M. Best	Moody’s	Standard &     Poor’s
Outlook	Stable	Stable	Negative
Company
American Bankers Insurance Company	A	A2	A-
American Bankers Insurance Company (CAB)	A	N/A	N/A
American Bankers Life Assurance Company	A-	A2	A-
American Bankers Life Assurance Company (CAB)	A-	N/A	N/A
American Memorial Life Insurance Company	A-	N/A	A-
American Reliable Insurance Company	A-	N/A	N/A
American Security Insurance Company	A	A2	A-
Assurant Life of Canada	A-	N/A	N/A
Caribbean American Life Assurance Company	A-	N/A	N/A
Caribbean American Property Insurance Company	A-	N/A	N/A
John Alden Life Insurance Company	A-	A2	A-
Reliable Lloyds	A-	N/A	N/A
Standard Guaranty Insurance Company	A	N/A	N/A
Time Insurance Company	A-	A2	A-
UDC Dental California	A-	N/A	N/A
Union Security Dental Care New Jersey	A-	N/A	N/A
Union Security Insurance Company	A-	A2	A-
Union Security Life Insurance Company of New York	A-	N/A	N/A
United Dental Care of Arizona	A-	N/A	N/A
United Dental Care of Colorado	A-	N/A	N/A
United Dental Care of Michigan	NR-3	N/A	N/A
United Dental Care of Missouri	A-	N/A	N/A
United Dental Care of New Mexico	A-	N/A	N/A
United Dental Care of Ohio	NR-3	N/A	N/A
United Dental Care of Texas	A-	N/A	N/A
United Dental Care of Utah	NR-3	N/A	N/A
Voyager Indemnity Insurance Company	A-	N/A	N/A
Commercial Paper	AMB-2	P-2	A-
Senior Debt	bbb	Baa1	BBB+

21

Exhibit I

Assurant, Inc.

Top 30 Corporate Issuer Exposures

(unaudited)

	As of September 30, 2009
($ in thousands)	Fixed Maturity Securities							Preferred Stocks
Corporate Issuer	Fair Value		Book Value		Unrealized Gain/Loss			Fair Value		Book Value		Unrealized Gain/Loss
Bank of America Corp	$	99,141	$	104,774	$	(5,633	)	$	38,220	$	48,498	$	(10,278	)
General Electric Co		123,321		124,923		(1,602	)		6,972		7,916		(944	)
Wells Fargo & Company		96,691		95,862		829			18,770		16,837		1,933
Verizon Communications		100,294		94,043		6,251			—		—		—
AT&T Inc		98,525		89,906		8,619			—		—		—
HSBC Holdings PLC		69,523		68,071		1,452			27,890		29,750		(1,860	)
MidAmerican Energy Holdings		73,558		66,951		6,607			761		1,017		(256	)
JPMorgan Chase & Co		58,929		60,457		(1,528	)		14,861		15,327		(466	)
US Bancorp		18,434		17,542		892			47,814		53,951		(6,137	)
Comcast Corp		65,548		62,445		3,103			—		—		—
IBM Corp		61,203		56,587		4,616			—		—		—
Goldman Sachs Group Inc		51,248		52,261		(1,013	)		8,990		9,637		(647	)
PNC Financial Services		34,028		33,087		941			24,725		22,498		2,227
Canadian Imperial Bank		52,498		48,466		4,032			6,050		4,788		1,262
ConocoPhillips		57,731		50,808		6,923			—		—		—
FMR LLC		56,040		54,828		1,212			—		—		—
Citigroup Inc		53,507		60,121		(6,614	)		—		—		—
Duke Energy Corp		51,171		46,376		4,795			—		—		—
Deere & Co		50,867		45,540		5,327			—		—		—
Burlington Northern Santa Fe		50,832		47,257		3,575			—		—		—
Prudential Financial Inc		49,665		50,030		(365	)		—		—		—
Wyeth		49,367		44,996		4,371			—		—		—
Manulife Financial Corp		34,650		35,567		(917	)		14,493		13,649		844
Time Warner Cable Inc		47,645		43,987		3,658			—		—		—
Target Corp		47,317		44,140		3,177			—		—		—
MetLife Inc		29,850		28,655		1,195			16,934		17,349		(415	)
Transcanada Corp		46,106		39,809		6,297			—		—		—
Wal-Mart Stores Inc		45,943		41,778		4,165			—		—		—
Hydro One Inc		44,070		40,694		3,376			—		—		—
Morgan Stanley		42,105		44,020		(1,915	)		1,537		842		695
		1,759,807		1,693,981		65,826			228,017		242,059		(14,042	)

22

Exhibit II
Assurant, Inc.
Commercial Mortgage Loans Summary (1)
(unaudited)

($ in thousands)	As of September 30, 2009
Summary of Commercial Mortgage Loans	Book Value			% of Total
Geographic Region
Pacific	$	491,880		34	%
Middle Atlantic		261,304		18	%
New England		177,745		12	%
South Atlantic		170,670		12	%
Mountain		162,689		11	%
West South Central		83,667		6	%
West North Central		44,281		3	%
East South Central		26,846		2	%
Canada		24,469		2	%
East North Central		16,773		1	%
Allowance for loan losses		(11,216	)	—
Total	$	1,449,108		100	%
Property Type
Retail	$	481,083		33	%
Office		476,734		33	%
Industrial		374,674		26	%
Other		71,368		5	%
Apartments		56,465		4	%
Allowance for loan losses		(11,216	)	—
Total	$	1,449,108		100	%
Loan Size
Under $3 million	$	566,424		39	%
$3 million but less than $6 million		483,115		33	%
$6 million but less than $9 million		231,381		16	%
$9 million but less than $12 million		58,824		4	%
$12 million and over		120,580		8	%
Allowance for loan losses		(11,216	)	—
Total	$	1,449,108		100	%

Commercial Mortgage Loan Information by Vintage

As of September 30, 2009

Loan year	Book value			Delinquent loan balance	Number of loans (whole number)	Number of delinquent loans	Average balance per loan		Average loan-to-value (2)		Weighted average loan-to-value (2)
2004 and prior	$	577,088		—	280	—	$	2,061	36.28	%	48.14	%
2005		247,811		—	72	—		3,442	60.68	%	67.33	%
2006		173,832		—	62	—		2,804	54.51	%	63.35	%
2007		288,555		—	90	—		3,206	72.31	%	78.92	%
2008		154,742		—	42	—		3,684	69.92	%	73.61	%
2009		18,296		—	3	—		6,099	60.26	%	68.33	%
Allowance for loan losses		(11,216	)	—	N/A	—		N/A	N/A		N/A
Total	$	1,449,108		—	549	—	$	2,640	49.19	%	62.24	%

⁽¹⁾ We originate fixed rate mortgage loans on commercial real estate. We are the sole lender and generally hold these loans to maturity. We do not typically securitize or otherwise sell these loans.

⁽²⁾ Based on property appraisals as of September 30, 2009.

23