Horace Mann Estimates Catastrophic Third Quarter 2021 Losses Reach $ 35-40 Million, Partly Offsetting Continued Strong Business Performance | Illinois


SPRINGFIELD, Ill .– (BUSINESS WIRE) – October 4, 2021–

Horace Mann Educators Corporation (NYSE: HMN) today announced that third-quarter disaster losses are expected to be between $ 35 million and $ 40 million pre-tax, due in part to the effects of Hurricane Ida. The estimated losses from this storm are around $ 20 to $ 25 million, largely due to losses of policyholders in the Gulf states. A total of 24 events were designated as catastrophic claims during the period by Property Claims Services (PCS) compared to 30 events in the third quarter of 2020 and 17 events in the third quarter of 2019.

“Horace Mann says representatives responded quickly and compassionately to policyholders affected by Hurricane Ida. I am proud that our team has kept their promise to help educators when they need it most, ”said Marita Zuraitis, President and CEO of Horace Mann.

“The third quarter results will reflect the continued strong performance of net investment income, the first steps towards the sales trends we anticipate and the growing value of our diversification into the additional business line,” added Zuraitis . “We will update our full year 2021 forecast and comment on our 2022 outlook when we release third quarter results. “

The company continues to assume that fourth-quarter disaster losses will be in line with the company’s 10-year average of $ 7-9 million.

Call for third quarter 2021 results

Horace Mann plans to release his third quarter 2021 results on Wednesday, November 3, after the market closes. At that time, the quarterly press release and investor supplement will be available on the company’s website at Investors.horacemann.com.

Management will host a conference call to discuss the financial results on Thursday, November 4 at 11:00 a.m. Eastern Time. Investors can access the webcast of the call through the Events page of the Company’s Investor site or by dialing 844-735-3325. For webcasting, please log in to the site several minutes in advance to register and download any required audio software. On-demand replay will be available later today.

About Horace Mann

Horace Mann is the largest financial services company focused on providing insurance and retirement solutions to educators and school employees in the United States. Founded by Educators for Educators ® in 1945, the company is headquartered in Springfield, Illinois. For more information, visit horacemann.com.

Safe Harbor Declaration

Statements included in this press release that are not historical in nature are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties. Horace Mann has no obligation (and expressly disclaims any obligation to) update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Please refer to the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2021, as well as the Company’s past and future documents and reports filed with the Securities and Exchange Commission for information on material factors that could cause actual results to differ. substantially from those of forward-looking statements.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211004005936/en/

CONTACT: Heather J. Wietzel, Vice President, Investor Relations

217-788-5144 |[email protected]

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS

INDUSTRY KEYWORD: PRIMARY / SECONDARY PROFESSIONAL SERVICES EDUCATION INSURANCE OTHER EDUCATION BANK UNIVERSITY

SOURCE: Horace Mann Society of Educators

Copyright Business Wire 2021.

PUB: 04/10/21 16:30 / DISC: 04/10/21 16:32

http://www.businesswire.com/news/home/20211004005936/en

Copyright Business Wire 2021.


Source link

Previous Legislature considers $ 100 million in compensation for 17 tragedies
Next Insurers See Hope in BIPA Coverage Battle with NC Decision