Thank you, Keith, and good morning, everyone.
XXXX as for As trends, I Keith full will XXXX. our our expectations performance, focus has outlined, quarter year we fourth on outlined particularly
the in and absolute both significant some changes rates be the currency rates growth Given foreign exchange year, I citing terms. during some will constant in of
a fourth quarter year-over-year or million catastrophes, basis. and excluding the XXXX, $XXX adjusted $XX XX% or million on EBITDA, totaled currency constant XX% For
Lifestyle. Global Global performance improved results both reflected from Housing and Our
catastrophes, share, per $X.XX year-over-year. up XX% earnings Adjusted excluding the reportable for totaled quarter,
fourth currency Lifestyle. segment year-over-year, Now results, segment XX% constant which a EBITDA or $XXX grew The reported a in or increase Global let's adjusted move Connected the that, XX% basis. was The X% of currency but driven quarter, a double XX% on to higher by basis. Living increase earnings, with starting million on constant
from strong Living Connected three growth was factors. primarily
mobile service prior in device mobile income. the and continued higher operator cable North subscriber reduced protection from investment First, American repair and year programs clients, growth and to period, third, carrier second, expenses modest compared
fourth we as offset Europe strong performance million continued Japan As in partially results in device In quarterly the expected, X.X weak year. this quarter, our serviced volume highest trading, in devices by declines were U.S. and mature. programs
While from volumes margins strong, were device pressured mix by trading carrier resulting as promotions. declined were results
steady. Connected in cost Claims Living overall remain
portion our decreased we contract be XX%, $X see some costs the partially weaker global distribution recovered Automotive, Although from to Global offset In from costs domestic growth contract time across higher costs. over million expected and service from higher earnings The of by claims claims of higher pockets and performance In client are higher materials business. channels. within or earnings was a labor structures. primarily decrease U.S., did extended
driven X% other Turning earned premium period sales $XX net This X% Lifestyle Automotive, strong reflecting or and fees and prior of Global million, up on primarily growth was income. vehicle constant a was currency contracts. basis. by service to
and earned exchange, growth fees adjusting for slightly mobile by partially in Connected When declines premium premium mobile offset in runoff foreign increased subscribers unfavorable from programs. America, income from other North in Living's
Connected of for expected from Living Automotive. both is Based Lifestyle grow new our million, XXXX, the adjusted and driven year EBITDA structure full to Global baseline reporting on by revised XXXX $XXX modestly
announced anticipate drivers. growth these some These we get first the half of the gradual the of should plan savings benefit pronounced programs, American new the We second Over previously year. be U.S. expense auto. as The partially course increases home continued to will existing restructuring and the in programs, half results mobile year, in as from of offset the in to expect year. our into well Connected connected from growth we benefit do modest the subscriber of as headwinds more North and ramp-up mobile Living
Specifically, that included in XXXX, client venture recur. joint we benefited items $XX from contract real from from in are not income a million These favorable estate of a and investment million $XX benefit. investments, to number expected
the in of particularly Europe, volumes We programs also in the declines international year in headwinds modest half anticipate given first subscriber as lower continued mature Japan. business, our and in
impact continued the anticipate we In costs which addition, ancillary will extended select finally, in bottom unfavorable top both for loss auto foreign and as experience contracts products. less particularly higher as exchange, favorable well claims service lines. And
foreign premiums, expected offset modestly ongoing in Lifestyle fees XXXX, is by growth earned income and declines net of is Living terms as for exchange other in Automotive grow and Connected Global headwinds. to In
bottom impacted be estimate have will new XXXX implementation structures, these two by changes important in It that will though, which Connected to will of $XXX is Living line. top impact we million. no line by lower note, the our contract to two
anticipate in fees Excluding these would Connected premiums income. other growth net changes, and we earned Living
$XXX included during Moving from now Adjusted Nicole was of EBITDA Housing. reportable million, quarter. winter storms to $XX million and Global Hurricane catastrophes which the
was EBITDA insurance, all $XX XX%. housing. increase $XX $XXX driven multifamily million loss or across products, primarily million adjusted up major offset was losses, partially lender-placed in by million, catastrophe non-cat including by experience Excluding The higher
values insured Lender-placed earnings accounting in the well housing of for most as from increased, premium higher as rates earnings policy growth. and average significantly increase
structure, and excluding to $XXX to million. contributed full These reporting income expect Housing costs. by In of investment the baseline adjusted partially were from revised we Based grow for a reinsurance higher increase. Global savings new EBITDA, XXXX, XXXX items on offset higher cats, year expense cat addition, the the
Improved two main from drivers. earnings expected performance is
actions expense top over lender-placed, growth First, rate year. to ongoing from and line second, recovery the of the realized be and course
later in the Gradual We is losses, in improvement expect costs higher elevated the seasonal lender-placed ongoing increased claims XXXX. in and cat non-catastrophe including to year. weather-related continue first losses in assumed non-catastrophe reinsurance half
more We losses and they our to also from profitability normalized expect lower from lower as non-cat levels. return Multifamily partners contributions Housing higher affinity
two cat June much when in In line our increases, elevated seen we've significant have final we our cost our anticipate January, program program, reinsurance the the terms third reflected of price secured relatively to of in XXXX industry, expectations. in in the we our We is this Similar continue the pricing place full of with of and program. outlook. thirds will but
the inflation, $XXX from our now we increase expected Given the we changes, in exposure. order in prices, This the exposure, event to return, expect to to in growth reinsurance risk in international for our partially offset million. is million. cat Reflecting increase and lender-placed XXXX level declines on some significant by per primarily $XXX believe risk optimize these appropriate retention incorporates and load
for in no outlook a broader rates U.S. And experience. our market that in finally, loss note the an placement that assumes worsening increase or housing housing would deterioration I'd meaningful of also cause
quarter EBITDA and driven Moving to $X loss by was was million, Corporate. The fourth adjusted up investment $XX income. million, lower
For full loss EBITDA be the we million. year the XXXX, approximately to Corporate adjusted $XXX expect
Turning $XXX In with dividends million. year to million. We segments from totaled ended $XX quarter, operating the fourth our liquidity. holding company the
had addition announced $XX acquisitions repurchases, million stock and outflows the to $XX and our in to share strategic previously our in million dividends equipment interest three position related common two items, strengthen also will main commercial quarterly In the corporate we expenses, that million $XX of space. from
below $XXX holding our This given non-core reserve contributed for to strengthening and investment the in company. Housing dividends in changes was operations. and values, Lifestyle expectations accounting changes portfolio XXXX, During million
economic including In XXXX, a XX% assumes the of accounts continue to business, catastrophes. approximate our meaningful requirements. reportable to the generate of restructuring for performance also we and to rating expect investment agency growth subject flow. is This EBITDA, This current conversion and continuation announced previously segment Cash businesses should the cash adjusted of portfolio regulatory the environment charges.
track our do conditions. In expect to we and positioned earnings challenging in summary, face cash we Assurant. macroeconomic current in strong growth generation flow continued and we're believe uncertainty to XXXX, customers future firmly continue record although well some grow serve we profitable our and and XXXX despite clients to of And continued to
And operator, with that, the call for open questions. please
