Assurant, Inc. faces profitability challenges in key areas of its business—particularly its force-placed products—but the specialty insurer has traditionally demonstrated an ability to adapt to changing market conditions, according to a Fitch analysis.

For example, Fitch notes that the company's Assurant Solutions segment reported a 21 percent drop in net-operating earnings for 2013's first half compared to the same period a year ago, as consumer spending affected sales of extended-service contracts and unemployment amplified credit-insurance losses. But the ratings agency also says Assurant Solutions "continues to introduce innovative products in markets that are less susceptible to economic conditions, such as the mobile-phone market," specifically citing Assurant Solution's announced program with T-Mobile that will offer handset protection and more frequent upgrade opportunities to U.S. customers.

Fitch's comments are included in an "Unrated Issuer Report" (UIR) on Assurant. Fitch says UIRs provide perspective on key issues that can impact an issuer's creditworthiness, and are written "on select entities for which Fitch does not maintain a public rating."