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Fitch: Assurant Faces Challenges, but Has Shown Ability to Adjust

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

By Phil Gusman | Updated on October 09, 2013

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.

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