Is AIZ (Assurant, Inc.) Halal or Haram?

Based on our AAOIFI-standard shariah screening, AIZ is Not Halal (Haram) and is not considered permissible for Muslim investors. It failed 2 of 4 compliance screens. Assurant, Inc.'s core business activity was found to be non-compliant. Its cash & securities ratio of 39.02% exceeds the ≤33% threshold.

Assurant, Inc. is a global provider of specialty insurance products, focusing on lifestyle and housing solutions. The company dominates niche markets by offering mobile device protection, extended service contracts for consumer electronics, vehicle protection, and lender-placed housing insurance across North America and international markets. For Muslim investors, Assurant is classified as Not Halal (Haram) and should be avoided. The stock fails both the qualitative business activity screen due to its conventional insurance operations and the quantitative financial screen, making it incompatible with AAOIFI standards. Financially, Assurant passes the debt screen with a debt-to-market cap ratio of 18.9% and reports negligible interest income. However, its cash and securities to market cap ratio sits at 39.0%, failing the 33% maximum limit, which indicates that an impermissible amount of the company's value is tied up in liquid, often interest-bearing assets. Since conventional insurance inherently relies on riba (interest) and gharar (excessive uncertainty), Islamic scholars unanimously classify such businesses as impermissible. Muslim investors seeking exposure to the financial protection sector should look toward Takaful (Islamic insurance) alternatives rather than conventional providers like Assurant. Assurant, Inc. operates in the Financial Services sector under the Insurance - Specialty industry and is headquartered in Atlanta, GA, US. The company is led by CEO Keith Warner Demmings and employs approximately 14,200 people.

AIZ was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. AIZ passed 2 of these 4 screens.

AIZ was last screened on 2026-04-29. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.