and everyone. good and proud I'm incredibly of strong morning, what in including Keith, team. results by XXXX we financial achieved our delivered the Thanks,
excluding year, EBITDA we cats. XX% share the by $X.X to growing while both adjusted adjusted earnings to increased over per over For $XX, billion,
of long-term power Assurant. consistently track continued demonstrating earnings We have growing our record of the
Our second for double-digit by we highlighted Global exceptional performance where growth year year. the in was overall Housing, another consecutive delivered earnings
Living Connected foreign exchange. and million unfavorable investments million of of excluding Lifestyle, $XX X%, Global Within $XX grew
as contract trajectory and into and service we importantly, foundation XXXX. enter the a earnings XXXX GAP actions XXXX. business vehicle we we set solid the move growth In as and second for we products in excited of Global More about the of our stabilized Auto, in targeted half are
share consecutive trends Beginning through led quarter XXXX our begin as earnings both we our with by I'll adjusted there, we to deliver enterprise profitable highlighting fourth Global fourth walk year key results, by saw excluding EBITDA and From per of increased quarter. the XX%, look I'll outlook growth. cats, our ninth in Housing.
nearly Lifestyle Global million from generate year. Global over and significant $XXX continued we cash capital. full and segments Housing flow upstream the to $XXX at quarter, in fourth for Looking the million our as
million capital of shareholders million excess We $XXX total return year repurchases. $XXX puts of the to shareholders $XXX in including quarter, that to which our the cash fourth returned of in our for million, share
time, for was company. the million the level of with our capital strong holding of the same year buyback at liquidity top At we Our position a at end year. in the expectations the $XXX ended
have increase represented dividend raised stock XX%. year This our IPO. The November, increased consecutive we common past dividend our by we XXth our since the
the to added High Dividend month. earlier S&P Aristocrats just this were Yield we addition, In Index
are proud framework. part balanced our We of to capital incredibly capital continue returns as of and expect our this strong deployment achievement
or million a Global client In investments a constant down that adjusted earnings were $X Turning with segment year Living, Fourth expected and are to of results, basis. currency was last currency our included EBITDA on on flat to roughly Lifestyle. quarter X% incremental beginning to basis. capabilities related results growth. quarter partnerships constant X% future drive to new Connected compared Fourth
fourth off as launched are recently our from paying to contribute including quarter have to earnings Investments business, begun in within Living's Financial XXXX benefits already Connected Services card performance. clients,
As trade-in These Keith programs, Year-over-year, training and offset mentioned, volumes. are on business focused were we U.S. were these lower scaling for growth. by lower mix partnerships by impacted results contributions now
see as sequential expected. did we trading However, growth
income joint smaller compared the to more quarter year-over-year year. compared lower XXXX was Auto. venture included Fourth estate gain decline down million. by a partnership a Turning last were quarter, year. estate to In $XX.X of real largely real The gain results venture this Global significant XX% joint to driven
business in investment both experience year. Global Excluding vehicle service our contract results and higher elevated by Auto product income our largely last GAAP flat offset were was this, partially to loss compared in as
we Importantly, remain continue claims quarter. to stable from experience last see
and rate increases program in improvement leading earn implemented sequential our continue to earnings. previously a As book, to changes through
adjustments premium premiums, constant approximately X% $XX and Global and or in Lifestyle X% XXXX. revenue, of fees of favorable non-run a net In rate other excluding terms on grew basis, our in earned Global for income currency Automotive quarter fourth million
results Milton. cat $XX performance Moving largely an Housing. strong. Adjusted to on Fourth were million EBITDA was Global $XXX losses, which from quarter Hurricane of building exceptional year. the for included million,
Excluding pressure. policy EBITDA XX%. adjusted higher we the cats, growth insurance placement a voluntary rates market increased robust continuation given from in homeowners of In saw quarter,
policies benefit additional are leverage this significant have technology business we these we from As placed, in driven the from investments. expense our
lower Earnings impacts also as included non-catastrophe the from reinsurance well frequency as catastrophe in lower quarter growth to favorable losses costs. due
quarter While period of from its our in not results reserve quarter channel, premium did business, strong trends. to relatively double-digit continue growth. growth consecutive favorable quarter, we was achieved in had prior fourth our it which Within written the million tenth impact PMC benefit XXXX gross consistent year-over-year we renters $XX of and with development
discuss for XXXX. let's our Now outlook
year and in development reserve excluding EBITDA share cats. earnings of $XXX modestly, increase results. to prior both favorable We per adjusted housing's million expect XXXX year full Overcoming
XXXX, underlying in earnings to expected are trends excluding Excluding PYD EPS the strong significant single-digit and cats. deliver growth both high favorable growth,
those forward our from view not rates demand. impacts includes or to factor does exchange consumer foreign and including claims in rates costs related outlook Our but potential interest of tariffs,
cycles. could has ability tariffs potentially quickly Over we affect the and deliver proven of to in we model had to environments time, While various positioned business react believe economic well address claims are costs, a impacts. our to face potential
Looking segments. at our
lifestyle and driven contributions as programs Global to unfavorable Growth Automotive. growth impact XXXX, partnerships is as offset new foreign partially well expect we by in from XXXX. an investments For and Living exchange be in by from expected Connected global rates higher
by incremental percentage mute a In mind, to growth and exchange few foreign expect we points. investments
Turning to Global Housing.
decline expect EBITDA, to modestly. excluding cats, We
million $XXX year development reserve favorable the seen in XXXX. Given of prior
underlying development growth of basis, housing strong Excluding the impact year in an prior on global XXXX. expect XXXX, in we EBITDA
growth continue development. which a lender-placed our and will outlook driven not As expense contemplate to XXXX expected prior business, homeowners is to reminder, does by leverage. additional our Underlying from year policy benefit be growth
or from of For a exceed through our May event. claims we catastrophes the Settling catastrophe update we to claims. more approach our the recent wildfires remain We'll are focused the navigate million. expected and California event $XXX Reportable settle wildfires in helping on reinsurance as retention California, in policyholders continue per and program further learn provide to slightly
other of catastrophe to the through placement impacts terms XXXX, are In effective we which will reinsurance of working X. program, April on be our
similar top of both coverage our the to structure maintaining bottom robust at expect a We end XXXX our program. and program,
As the the wildfire update program year. get are expectations, be also cat which expected load estimates. into finalized, will in our on California insights terms May inclusive greater for an will We'll of we provide our
capital excess maintaining shareholders. are and XXXX prior flexibility for balance new to objectives capital Our with growth focus we as returning on support business consistent to while years
subject XXXX range market other is M&A $XXX conditions. our estimated million for million, accounts share From $XXX California for between wildfires. the our well as repurchase range as to This impact from a to expected perspective, and
to Of the the capital decisions X, will course repurchased we've track record Through year our we February of course, of continue allocation shares. sound make has shown. million $XX as over
prior consistent more flow weighted be the compared back-end our in strong by in our to capital position confidence year driven throughout cash years, buybacks expect and We generation. to
our And our to ability portfolio, industry, compared unique we finally, with consistent cash we broader flow given well Overall, differentiated the Assurant our and XXXX. to our the XXXX, capital housing growth which efficiencies are outperformance to of positioned expect flows reinvest P&C cash believe continue strong continue and and we speaking to creates feel In proud generate lifestyle of growth. trajectory in performance. for recent is generation, to aligned meaningful
for questions. With call that, operator, please the open
