Assurant

Pricing is negotiated with sophisticated enterprise clients and is partly constrained by regulators in Housing, so pure pricing power is moderate.

However, Assurant captures attractive economics through a combination of underwriting discipline, fee-based services, device repair/logistics scale, and benefit design that balances claim costs and customer experience. 2024 adjusted EBITDA ex catastrophes of roughly 1.57 billion on about 11.88 billion of net earned premiums, fees and other income implies healthy high-teens EBITDA margins in Housing and solid low-teens at the enterprise level, indicating embedded economics more than sticker price power.

Continued mix shift toward services and technology-enabled efficiencies supports gradual margin expansion rather than headline price increases.