Keith W. Demmings

President, Chief Executive Officer, and Director at Assurant Inc

Board

Since January 1, 2022

Age

51 years

Tenure

Joined in 1997 and has held various leadership roles including Executive Vice President positions before being promoted to President on May 18, 2021 and ultimately becoming President, Chief Executive Officer, and Director on January 1, 2022.

Also at Assurant Inc

Biju Nair

Executive Vice President and President, Global Connected Living

FLL

Francesca L. Luthi

Executive Vice President, Chief Operating Officer

JER

Jay E. Rosenblum

Executive Vice President, Chief Legal Officer

About

Keith W. Demmings joined Assurant, Inc. in 1997, marking the start of a long tenure with the company that paved the way for his progression through multiple leadership roles. His career includes key executive positions such as Executive Vice President and President of Global Lifestyle, Global Markets, and International operations, reflecting his broad and strategic influence within the organization.

Over the years, his leadership has been central to driving the company’s growth into global markets. His expertise in managing diverse business segments has been crucial in steering the company towards expansion and enhanced market presence.

He was named President on May 18, 2021, and later elevated to Chief Executive Officer and Director on January 1, 2022. These appointments underscore his significant contributions to the company and his ability to lead in evolving business environments.

While personal background and educational details are not detailed in the available information, his extensive career at Assurant exemplifies a deep commitment to the company and a successful trajectory in executive leadership.

$AIZ Performance Under Keith W. Demmings

Past Roles

Organization	Role	Date Range	Details
Assurant, Inc.	President, Global Lifestyle	July 2016 - May 2021	Former role before becoming CEO
Assurant, Inc.	President, Global Markets	September 2015 - July 2016	N/A
Assurant, Inc.	President, International	June 2013 - September 2015	N/A
Assurant Canada	President and Chief Executive Officer	N/A	Date unspecified

Fixed Compensation

Data from FY 2023

Component Name	Amount ($)	Payment Schedule	Additional Details
Salary	1,000,000	Annual	Fixed base salary for 2023
Executive LTD	5,841	Annual	Fixed long-term disability benefit for 2023
Company Contributions to Executive 401(k) Plan	114,000	Annual	Contributions made on behalf of the executive in 2023
Company Contributions to 401(k) Plan	19,800	Annual	Standard contributions as part of the retirement benefits

Performance Compensation

Data from FY 2023

Annual Incentive Compensation (ESTIP)

Metric/Component	Weight	Threshold	Target	Maximum	Actual/Performance Factor	Dollar Amount	Additional Details
Adjusted EBITDA (excluding reportable catastrophes)	50%	$1,014M	$1,193M	$1,312M	2.00	N/A	Metric forms part of the overall performance evaluation
Net Earned Premiums, Fees, and Other Income	30%	$8,697M	$10,232M	$11,767M	1.09	N/A	Metric forms part of the overall performance evaluation
Enterprise Financial Performance Factor	N/A	N/A	N/A	N/A	1.66	N/A	Aggregate performance factor combining the above metrics
Individual Performance Component	20%	N/A	N/A	N/A	1.30	N/A	Based on qualitative evaluation by the Compensation and Talent Committee

Target Annual Incentive Opportunity: $1,500,000
Actual Incentive Payment: $2,382,000 calculated as follows:
- Enterprise Performance (80% weight): $1,992,000 (1.66 × 80% × $1,500,000)
- Individual Performance Component (20% weight): $390,000 (1.30 × 20% × $1,500,000)

Long-Term Equity Awards (Stock Awards)

Component	Metric	Value/Quantity	Additional Details
RSUs	Grant Date Fair Value	$1,625,045	Granted 14,644 units on March 16, 2023 at a stock price of $110.97. Vesting over time subject to continued employment.
	Number of Units	14,644
PSUs	Grant Date Fair Value	$5,047,892	Granted target of 43,931 units on March 16, 2023 at a stock price of $110.97. Vesting contingent on performance over a three-year period.
	Performance Range	Threshold: 21,966 units
		Target: 43,931 units
		Maximum: 87,862 units (200% of target)	Payouts range from 0% to 200% based on performance conditions.
Overall Mix	Mix of Awards	25% RSUs / 75% PSUs	Total Grant Date Value of $6,500,068.

The performance compensation for 2023 is based on achieving both financial and qualitative goals. The ESTIP uses a combination of quantitative metrics and a qualitative individual performance assessment to determine the final cash payout, while the long-term equity awards incorporate performance conditions tied to share-based targets.